MGI Pharma MOGN New patents, anti cancer Message Board

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Biotech / Medical : MGI Pharma MOGN New patents, anti cancer

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To: Icebrg who wrote (1518)	9/2/2004 1:53:03 AM
From: Icebrg	of 1826

MGI's 'Great Day': Deal To Market Dacogen, Two Companies Bought By Karen Pihl-Carey Staff Writer [BioWorld commenting yesterday's activity]. MGI Pharma Inc.'s stock surged nearly 20 percent Wednesday after it announced a marketing deal for SuperGen Inc.'s Dacogen, as well as its plans to acquire two private companies focused on oncology. If all milestones are met, Minneapolis-based MGI would pay $85 million to SuperGen. But it's also paying $90 million for the acquisition of Aesgen Inc., and $50 million for Zycos Inc. However, the products acquired through all transactions are expected to bring MGI $500 million in additional annual net sales about three to four years following their commercial launches. "We see the completion of these three transactions as really helping form the foundation for us in creating a leading biopharmaceutical company," said Bill Brown, the company's executive vice president and chief financial officer. "So this is just a great day for all of us associated with MGI Pharma to really lay the groundwork for the future growth."....... bioworld.com

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