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Biotech / Medical : Munch-a-Biotech Today
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To: Ian@SI who wrote (2875)6/1/2010 3:01:16 PM
From: tuck  Read Replies (1) of 3158
 
Re: Javelin/Hospira deal: "Certainly sounds like a material adverse event."

It does, but the "M.A.C." clause in the merger agreement is hazy. Dyloject sales in the U.K. were not very large -- ~$5 million last year -- and Hospira would only get Javelin's royalty split with Therabel there. Small potatoes. So the real issue is how this affects approval in the US. Does it imply a manufacturing problem that can't be corrected in a timely fashion?

This blog explores the M.A.C. clause:

dealbook.blogs.nytimes.com

Scroll down a ways to get to the Javelin/Hospira part.

Stock has recovered somewhat, but the extended deadline is tomorrow with deafening silence from both parties since Javelin came clean on the "supply chain problem."

Cheers, Tuck
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