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Article: Genentech Buys Tysabri Plant For $408M From Biogen Idec.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
To keep pace with the roaring success of its compounds, Genentech Inc. is buying Biogen Idec Inc.'s 60-acre biologics manufacturing plant in Oceanside, Calif. - the one that had been slated to make ill-fated Tysabri - for $408 million, thus boosting Genentech's drug-making capacity by about 30 percent.
"Given the timing, we like this deal," Christopher Raymond, analyst with Robert W. Baird & Co. in Chicago, wrote in a research note. He maintained an "outperform" rating on South San Francisco-based Genentech, whose stock (NYSE:DNA) closed Friday at $82.47, up 82 cents. Piper Jaffray maintained the same rating.
Biogen Idec's ...
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Article: Biogen Idec Cutting Staff To Reduce Costs, Tighten ...
BIOWORLD Today;
November 3, 2009 ;
700+ words
... ... issues. (See BioWorld Today, June 20, 2005.) Biogen Idec also is seeking ... of strength." Biogen Idec reported net income ... effort to position Biogen Idec for the years 2010 ... Juves told BioWorld Today. "It will provide ...
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