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Third time was the charm for Alkermes' experimental antidepressant ALKS 5461.
Gilead is under enormous pressure from investors to acquire companies or develop new drugs from its pipeline.
Puma CEO Alan Auerbach wanted the cash desperately, regardless of Puma's stock price. Get the deal done, even if you have to sell it to the shorts.
Celgene is not some dinky micro-cap biotech lacking the resources or knowledge to conduct a rigorous clinical trial, so omitting a placebo arm from the GED-0301 study is inexcusable.