|HGS Again Rejects GSK Extension of Tender Offer; Amgen Announces Results Of Phase 3 EVOLVE™ Trial|
|By Staff and Wire Reports|
|Friday, 08 June 2012 18:49|
Earlier this morning, GlaxoSmithKline plc (NYSE: GSK) announced it extended its tender offer to acquire all of the outstanding shares of Human Genome Sciences (NASDAQ: HGSI) for $13.00 per share in cash to 5:00 p.m. New York City time on Friday, 29 June 2012.
The HGS Board of Directors responded, not too long after, rejecting GSK's unsolicited $13.00 per share tender offer after determining, in consultation with financial and legal advisors, that the GSK offer price is inadequate and does not reflect the value inherent in HGS.
As previously announced, Human Genome Sciences has authorized the exploration of strategic alternatives in the best interests of stockholders, including a potential sale of the Company.
Human Genome Sciences states this process continues to be active and fully underway. GSK declined to enter the process and, through its unsolicited tender offer, seeks to circumvent, disrupt and prematurely end the Company's process to the disadvantage of HGS stockholders.
Human Genome Sciences is committed to completing the exploration of strategic alternatives as expeditiously as possible, and the HGS Board of Directors recommends that HGS stockholders reject GSK's tender offer and not tender any of their shares to GSK.
Currently, shares of Human Genome Sciences are trading up about 2% at $13.47 per share.
Amgen (NASDAQ: AMGN) announced top-line results of the Phase 3 EVOLVE™ (EValuation Of Cinacalcet HCl Therapy to Lower CardioVascular Events) trial, which evaluated Sensipar®/Mimpara® (cinacalcet) for the reduction of the risk of mortality and cardiovascular (CV) events among 3,883 patients with secondary hyperparathyroidism (HPT) and chronic kidney disease (CKD) receiving dialysis. The primary endpoint of the study was time to the composite event comprising all-cause mortality or first non-fatal cardiovascular event, including myocardial infarction, hospitalization for unstable angina, heart failure or peripheral vascular event. Although patients in the Sensipar/Mimpara arm experienced numerically fewer composite primary events, the results were not statistically significant, and the trial did not meet its primary endpoint in the intent-to-treat analysis.
"Amgen embarked on the EVOLVE trial to understand whether treating secondary HPT with Sensipar/Mimpara could positively impact the high rates of mortality and cardiovascular events among patients with CKD receiving dialysis," said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. "We thank the patients, caregivers and investigators for their participation and engagement in this landmark trial. EVOLVE will provide the nephrology community with important information."
AmerisourceBergen Corporation (NYSE: ABC) today announced that Lazarus Krikorian, 47, has been appointed Vice President, Corporate Controller, effective immediately. Krikorian will be an officer of the Company, and will report to Tim G. Guttman, who was recently appointed Senior Vice President and Chief Financial Officer, and whom Krikorian succeeds as Corporate Controller.
Amgen (NASDAQ: AMGN) today announced top-line results of the Phase 3 EVOLVE™ (EValuation Of Cinacalcet HCl Therapy to Lower CardioVascular Events) trial, which evaluated Sensipar®/Mimpara® (cinacalcet) for the reduction of the risk of mortality and cardiovascular (CV) events among 3,883 patients with secondary hyperparathyroidism (HPT) and chronic kidney disease (CKD) receiving dialysis.
Boston Scientific Corporation (NYSE: BSX) has closed its acquisition of Cameron Health, Inc. of San Clemente, California, and, as a result, added to its product portfolio the world's first and only commercially available subcutaneous implantable cardioverter defibrillator, called the S-ICD® System.
Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, today announced that it has received conditional Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration (FDA) to initiate a clinical trial to study its GLX next-generation tissue treatment platform applied to a surgical bovine pericardial heart valve.
Generex Biotechnology Corporation (OTCBB: GNBT) reported today that the inaugural meeting of the Scientific Advisory Board (SAB) of its wholly-owned subsidiary, Antigen Express, Inc., for the company's AE37 breast cancer vaccine took place in Dallas, TX on May 19, 2012.
Masimo (NASDAQ: MASI) CEO and founder Joe Kiani received the Ernst & Young (Orange County) Entrepreneur of the Year® Award during a gala at the St. Regis Monarch Beach Resort in Dana Point, Calif., Thursday evening.
At this year's SNM Annual Meeting, June 9-13, Royal Philips Electronics (NYSE: PHG, AEX: PHI) is highlighting its portfolio of nuclear medicine (NM) applications for IntelliSpace Portal, adding to its existing portfolio of CT, MR and multimodality applications.