Celgene shares get hammered

This is what happens when a competitor arrives at the door step!
Celgene's shares fell roughly 15 percent to $48.90 on Nasdaq, while Millennium's shares rose nearly 10 percent to $16.53.

Until recently, Millennium's injected drug Velcade has been seen as the underdog to Celgene's more convenient, oral drug Revlimid. But data presented over the weekend at the annual meeting of the American Society of Hematology (ASH) is giving investors greater confidence that Velcade will be able to hold its own.

So, is the Celgene buyout of Pharmion in trouble? Celgene is below the collar lower range of $56.16, and Pharmion shares dropped on the news.
As Celgene's stock value falls, the actual value of the Pharmion buyout could suffer, said Banc of America Securities analyst William T. Ho, if the stock price remains below the $56.15 lower boundary of the deal's collar.

Advantage of oral formulation (of Revlemid) can only take one so far.
Post a Comment

Popular posts from this blog

Rafting down Colorado river

Image
In the past, I have visited Grand Canyon twice.  Once I was there by myself, and another time I took my parents and my uncle, Mr. RS Tiwari when they were visiting me in the US.  Both times I went to the southern rim and on both time I didn't go down to the canyon itself.  Each time however, I was filled with wonderment at this amazing architecture of nature and wondered to myself, how cool it would be to travel down the Colorado river on a raft.

And so, I put it on my bucket list.  I promised myself, I will raft down Grand Canyon in this lifetime.

Amazingly, that day now seems near!!




Last year, I sent a note out to my close friends asking them if any one would like to join me on my dream trip.  I received one response - enquiring just how difficult the trip might be, but beyond that, nothing.  Clearly, rafting down Grand Canyon is not every body's cup of tea.

But one can't be deterred by lack of enthusiasm of others!!  This bucket list is mine, and so I should take the o…
Read more

Learning from your mistakes

Man:  Guruji, how do I learn about my mistakes.

Guru: Identify one mistake in your wife and tell her to correct it.
In response she will help you identify all your mistakes along with those of your family and your friends.

It's that easy.
Read more