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Cholesterol Drug Battle 16 Nov 2009
Abbott Laboratories' Niaspan beat Merck's Zetia in a new study. CNBC's Mike Huckman has the details.

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Pharma's Market

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Dec.19

4:02 PM ET

Tuesday, 19 Dec 2006

Selling Cialis

Posted By:Mike Huckman

Topics:Pharmaceuticals

Sectors:Health Care

Companies:Eli Lilly and Company | Pfizer Inc

Lilly [LLY Loading... () ] and Icos [ICOS Loading... () ] today postponed the Icos shareholder vote on the new-and-improved, $34-a-share buyout offer until January 25th. The vote was supposed to take place today, but after Lilly raised the bid -- somewhat reluctantly -- yesterday, the companies wanted to give investors more time to mull it over. At least one big shareholder is still complaining that Lilly didn't go high enough.

And under the category of things that make me go, "Hmmm". Celgene [CELG Loading... () ] shares have gone from $42 in early October to $60 today. It keeps hitting new highs (another one today). Yes, the company has had what seems like a continuous stream of positive data on its cancer drugs. But, one has to wonder, especially in the wake of Pfizer's [PFE Loading... () ] recent drug pipeline implosion, whether there's increasing speculation that Celgene gets taken out by Pfizer or a competitor.

Pfizer, for example, has said it wants a bigger footprint in biologics. A company like Celgene would give it instant access with products already on the market. The market cap today is pushing $21 billion, but it's still well within the reach of a cash-rich company like Pfizer.

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