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DBL%20Hendrix%20small.png College chemistry, 1983

Derek Lowe The 2002 Model

Dbl%20new%20portrait%20B%26W.png After 10 years of blogging. . .

Derek Lowe, an Arkansan by birth, got his BA from Hendrix College and his PhD in organic chemistry from Duke before spending time in Germany on a Humboldt Fellowship on his post-doc. He's worked for several major pharmaceutical companies since 1989 on drug discovery projects against schizophrenia, Alzheimer's, diabetes, osteoporosis and other diseases. To contact Derek email him directly: derekb.lowe@gmail.com Twitter: Dereklowe

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In the Pipeline: Don't miss Derek Lowe's excellent commentary on drug discovery and the pharma industry in general at In the Pipeline

In the Pipeline

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January 21, 2009

Nitromed: Someone Wants Them

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Posted by Derek

Remember that NitroMed / Archemix deal that I mentioned briefly back in November? Well, it's not going so smoothly. One of the largest NitroMed shareholders, Deerfield Management, objected to the whole idea, and proposed buying the company itself.

Last week the company adjourned its shareholder meeting until yesterday to consider the offer, and yesterday they adjourned again. Deerfield started off at fifty cents per share, and has slowly raised its offer to $0.80. You have to think that that's the sort of behavior that they would have objected to in some other suitor for the company, but hey. . .

Comments (1) + TrackBacks (0) | Category: Business and Markets


COMMENTS

1. Hap on January 21, 2009 2:23 PM writes...

Maybe someone's looking to get them cheap - if your target can't get funding another way, and you can make the alternative stock deal difficult, then... The other stockholders might get annoyed, though.

If DM doesn't get it cheap, the stockholders might be happier with an all-cash deal than with one involving stock, although you would have to ask what DM sees in them that the rest of their stockholders do not.

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