Before corporate actions are officially announced there are generally rumours circulating on the Internet. When I started out in corporate actions in 1997 such things never existed.
The latest rumour is that the FTSE100 pharmaceutical company AstraZeneca may be considering taking over Cubist Pharmaceuticals, a Massachusetts company.
The deal is related to Cubicin, a medicine which treats the superbug MRSA and some serious skin infections. This antibiotic had sales in the region of $600 last year and some analysts feel that this drug could turn out to be a golden egg.
Cubist won a patent dispute for Cubicin against Israels Teva which strengthens their position.
At the moment Cubist is certainly a very tempting target for a takeover as it has a potentially huge client base with proven sales already.
This would not be the first takeover of a company that specialising in vaccines. In 2007 AstraxZeneca acquired MedImmune at a cost of $15.2 billion to combine with its Cambridge Antibody Technology division.
If AstraZeneca was to successfully acquire Cubist Pharmaceuticals it will control a large share of the global vaccine market.
Today AstraZenaca stock price fell slightly to 3186.86p.
- Cubist Pharmaceuticals, Inc. (Public, NASDAQ:CBST) – www.cubist.com – bio-pharmaceutical company focused on the research, commercialization and creation of pharmaceutical products. See latest stock prices for Cubist: www.google.com/finance?q=NASDAQ:CBST
- www.astrazeneca.co.uk – one of the world’s leading pharmaceutical companies.