- Athenex Inc shares climbed during the after-hours session as India's Intas Pharmaceuticals and Dr Reddy's Laboratories Ltd are reportedly in talks to acquire Athenex.
- According to the Economic Times report, the deal could be valued at $200-250 million as the U.S.-based biotechnology firm looks to sell a controlling stake.
- The two Indian pharma companies are competing with a handful of mid-market healthcare-focused private equity funds in the US, people with knowledge of the matter told ET.
- Athenex had hired investment advisory firm Cowen Inc to run a formal process to find a buyer.
- "A formal process has started, and the first round of offers have come in," said one of the people. "Intas and Dr Reddy's are the two Indian firms in the race. A transaction could be concluded during the current quarter."
- During its recent earnings release, Athenex reported Q2 product sales of $25.8 million, +26% Y/Y.
- It is said to have raised $85 million in total transaction value in Q2 for a total of $125 million in proceeds from sales of non-core assets in 1H 2022.
- It maintains the FY22 product revenue guidance range of 20-25% growth Y/Y.
- Voyager Therapeutics Inc VYGR unveiled its prioritized therapeutic pipeline focusing on tau antibody for Alzheimer's disease and gene therapies for GBA1 Parkinson's and SOD1 ALS.
- For GBA1 Parkinson's, a non-human primate (NHP) capsid evaluation study is currently underway.
- Voyager intends to select a development candidate in 1H of 2023, initiate a dose range finding study in NHPs in 2H of 2023, and initiate GLP toxicology studies in 2024.
- Voyager anticipates an IND filing in 2025.
- For SOD1 gene silencing, an NHP capsid evaluation study is currently underway. The company intends to select a development candidate in 2022, complete an NHP dose range finding study in 2023, initiate GLP toxicology studies in 1H of 2024, and file an IND in 2024.
- On the partnership front, the company believes that Pfizer Inc PFE and Novartis AG NVS TRACER capsid collaborations are going well with option exercise decisions upcoming in Q4 2022 and Q1 2023, respectively.
- Voyager expects that its cash, cash equivalents, and marketable securities will be sufficient to meet Voyager's planned operating expenses and capital expenditure requirements into 2024.
- Pfizer Inc is reportedly in advanced talks to buy Global Blood Therapeutics Inc for about $5 billion, bolster its portfolio and pipeline.
- Global Blood Therapeutics markets sickle-cell disease treatment, Oxbryta, which generated $194.7 million in revenue in 2021.
- Wall Street Journal says that Pfizer aims to seal a deal for GBT in the coming days, citing people familiar with the matter.
- Some people said the situation is still fluid, and other suitors are still in the mix.
- GBT announces its second-quarter results Monday.
- Bloomberg reported earlier this week that some large pharmaceutical companies are looking into a potential deal. Global Blood Therapeutics is reportedly working with advisors to evaluate potential takeover offers.
- At its current share price of $52.58, GBT has an enterprise value of $3.2 billion.
