1/22/2024 0 Comments Kite pharma stocxk![]() ![]() ![]() RELATED: With hep C sales crashing, Gilead CEO Milligan concedes M&A is vital for growth That’s because sales of the company’s transformative hepatitis C treatments, Sovaldi and Harvoni, had fallen by more than a third in 2016 and were continuing to plummet, slammed by a combination of pricing pressure and a dwindling population of patients, most of whom had been cured by the drugs. In February, during its fourth-quarter earnings report, Gilead told investors to expect 2017 sales between $22.5 billion and $24.5 billion-far short of the $27.7 billion analysts had been expecting. To understand why Milligan was able to go back to his board, ultimately securing approval for the $180-per-share price, it’s helpful to review Gilead’s tough six months prior to closing the deal. Belldegrun that he was going to find it very difficult to go back to the parent board and request an increased price,” the prospectus says. Milligan at the level of the offer, making clear that the Kite board had unanimously rejected the offer and that any future offer would need to be a compelling one. Belldegrun expressed his disappointment to Dr. 1, several executives from both companies met to discuss the $160-per-share offer, after which Belldegrun and Milligan met separately. RELATED: Growth-hungry Gilead finally pivots from flagging hep C with $12B Kite buy So Belldegrun had little leverage aside from his own confidence and that of Kite’s board-which he used quite well against Gilead CEO John Milligan. Through all of this, Gilead was the only suitor making formal offers to acquire Kite, according to the prospectus. But during that time, Kite filed for FDA approval of axi-cel, its personalized CAR-T treatment for non-Hodgkin lymphoma, and it got the good news that the agency would not require a committee review meeting prior to approval. Gilead had come calling a month before with an offer of $127, which it later hiked to $160. 18, Gilead offered to buy Kite for $180 per share-an 82% premium over the target company’s 60-day average stock price. ![]() But Gilead Sciences’ $12 billion buyout of Kite Pharma wasn’t your everyday big bio deal-far from it, in fact.Ī look at the prospectus for the merger tells an instructive tale of how Kite CEO Arie Belldegrun turned a single bid into a huge payday by capitalizing not only on his company’s valuable innovation in the red-hot field of immuno-oncology, but also on Gilead’s desperate need to make a game-changing deal. It studies various charts of various time frames to reach a prediction value.Usually when two biopharma companies negotiate a merger and the final price ends up soaring way past the original offering price, it’s because there’s another bidder lurking in the wings, ready to swoop in with a better offer. The AI algorithm does a complete analysis of charts of the stock, and determines where the stock might go in future. The AI Munafa prediction value is a complicated algorithm. How is AI Munafa prediction value determined? If the AI Munafa prediction value is near 50, then the stock might show a sideways movement. However, if this AI prediction value is near or nearing 10, then this stock might very well show a downward movement. If this AI Munafa prediction value is near or nearing 100, then this stock might show an upward movement. AI Munafa prediction value: 70 as on Mon 02 October 2017 Not much is happening in the stock trend. KITE appears to be moving in a flat line. Tomorrow's movement Prediction of Kite Pharma, Inc. Price is above an important level of 178.72 on charts, and as long as price remains above this level, the uptrend of stock might continue. And this trend seems to be continuing further. ![]()
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