Will the biotech bubble support the comeback of Introgen Therapeutics, one of the sector's largest disasters?
French investors holding shares of Genfit are having trouble coping with the failure of the company's fatty liver disease drug GFT505.
Neither of the deals announced Monday are blockbusters or particularly transformative. Both buyers have specific needs and went after small targets for large prices.
Teva said it would acquire smaller companies as a way to offset the expected revenue hit coming when its multiple sclerosis drug Copaxone faces generic competition in September.
Horizon is buying Hyperion to grow its orphan disease business unit.
The GFT505 study in NASH failed, analysts said. That's bad for Genfit and good for Intercept Pharmaceuticals, which is developing a rival drug for fatty liver known as OCA.
If history repeats itself, the recent weakness in biotech stocks will end with lots more buying.
In April, Celladon is expecting results from a mid-stage study of a gene therapy aiming to improve the pumping ability of the heart in patients with advanced heart failure.
Biotech CEOs are supposed to be cheerleaders for their stock, so it's noteworthy when a CEO's pocketbook indicates otherwise.
Biotech stocks may or may not be in a bubble, but investors are definitely worried about sky-high valuations.