Merck was awarded $2.54 billion in royalties by a jury in a patent lawsuit against Gilead Sciences over Gilead's hepatitis C drugs.
Sarissa Capital will nominate two directors to Ariad Pharmaceuticals' board and seek the "imminent retirement" of Chief Executive Harvey Berger.
Merck said the U.S. FDA intends to rescind its "breakthrough" designation for its experimental combination treatment for hep C.
The sheer volume and pace of biotech offerings are causing some to question whether the sector is nearing the end of its years of buoyancy.
With some traditional drug companies starved for growth, Cramer thinks smaller biotechs may be in play.
Roche's deal for InterMune is one of the few this year that returns to the traditional model of big pharma buying smaller biotech.
Achillion's been a takeover target for years. But Merck's acquisition of Idenix may mean Achillion's time has come.
U.S. stock index futures pointed to a lower start to Wall Street trade on Tuesday, despite more upbeat news out of China.
U.S. stocks tallied slight gains on Monday, with benchmark indexes again closing at records.
Baupost Group appears to have made a nearly $1 billion off of Merck's deal to buy Idenix.
Analysts say there's more to Merck's interest in Idenix than its drug portfolio: intellectual property. And that's why Gilead's shares are lower.
Some of Monday's midday movers:
Drug giant Merck said it would purchase Idenix Pharmaceuticals for $3.85 billion, a deal already approved by both companies' board of directors.
U.S. stock index futures pointed to a flat-to-lower open on Wall Street on Monday, despite upbeat data from China and Japan.
Some of the names on the move ahead of the open.
*UBS cuts Idenix price target to $9 from $10. *UBS raises Celgene price target to $82 from $80. Reuters Station users, click. 1568.
*Credit Suisse cuts Idenix Pharmaceuticals Inc to underperform from.
Bristol-Myers Squibb suspended a mid-stage study of its experimental hepatitis C drug BMS-094 due to a serious safety issue — a major blow to the company’s research pipeline that is also likely to rejigger the way Wall Street views other companies’ efforts to develop an all-oral therapy against the viral liver disease.
Stocks wobbled out of the gate Wednesday, with traders hesitant to make any strong commitments head of the afternoon Federal Reserve policy decision.
U.S. stock index futures pointed to a mixed open on Wall Street on Wednesday as investors turned their attention away from the G20 Summit and the euro zone crisis and concentrated instead on domestic concerns.