For the record, my biotech acquisition predictions for 2012 were Seattle Genetics (SGEN), Celgene (CELG), Biomarin Pharmaceuticals (CELG), Amag Pharma (AMAG), Onyx Pharma (ONXX) and Momenta Pharma (MNTA). I'm still waiting for a winner.
@pauldavidson11 asks, "What are your thoughts regarding VVUS approval and ARNA share price?
My thoughts or predictions, in no particular order:
Vivus' (VVUS) weight-loss drug, Qnexa, will be approved on July 17, in line with consensus investor expectations.Qnexa's approval is secondary in importance to the restrictions and warnings expected in the drug's label. Learning how restricted (or not) the Qnexa label reads is likely to play a big part in how investors react on July 17. Vivus shares at Tuesday's close of $29.93 are up 30% since April 9, when the company announced the three-month extension of its FDA review. This looks very much like a classic "run-up" into FDA approval decisions, which is often followed by a sell off. Don't be surprised if Vivus shares fall following Qnexa's approval exactly like Arena Pharmaceuticals' stock price sank following FDA approval of Belviq on June 27. On that subject: At Tuesday's close of $10.02, Arena is down 14% since Belviq's approval.
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