Gilead Sciences’ investors seemed puzzled over the pricey offer of $137 per share, or about $11 billion, the biotech giant laid down for Pharmasset on 21 November, with investors reacting with immediate disdain, driving shares of Gilead down as low as 14%, or $5.53, in morning trading.
Gilead Sciences’ investors seemed puzzled over the pricey offer of $137 per share, or about $11 billion, the biotech giant laid down for Pharmasset on 21 November, with investors reacting with immediate disdain, driving shares of Gilead down as low as 14%, or $5.53, in morning trading.
On the other hand, Pharmasset's shares took off at lightening speed before the opening bell rang – rocketing 86%, or a gain of $62
Shares are hit as German conglomerate lowers revenue forecast.
The Danish firm's atopic dermatitis drug is holding its own despite strong competition from Sanofi/Regeneron’s Dupixent.
Cipla's CEO underlines that US generic prices are already “very significantly comparable” with the rest of the world and expects President Donald Trump's executive order on drug pricing to primarily impact branded pharmaceuticals. The company also shared updates on its US pipeline.
