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Call to the Floor: Isis Pharmaceuticals CEO

Wednesday, 4 Jan 2012 | 1:49 PM ET

A partnership with one of the world’s largest biotech companies means a strong year ahead for Isis Pharmaceuticals, CEO Stanley Crooke said Wednesday on “Fast Money.”

Isis announced that it would receive $29 million from Biogen Idec as part of work on a drug to battle SMA, a deadly genetic muscular disease in children.

Isis-Biogen Partnership
Biogen teams up with Isis Pharmaceuticals to create a drug that fights a genetic disease in little children, with Isis CEO Stanley T. Crooke.

“I think 2012 for Isis is going to be a really great year,” he said.

Crooke said the drug, ISIS-SMNRx, has started clinical trials.

Isis shares were down 3 cents midday at $7.22.

Under the terms of the agreement, Isis will be eligible to receive up to $45 million associated with the clinical development and a license fee up to an additional $225 million, plus double-digit royalties.

Crooke also noted the company has in its development pipeline a drug to lower cholesterol and an anti-obesity drug that improves energy use.

“What keeps me up at night is the challenges of drug discovery and development and the opportunities presented by the technology we’ve invented,” he said.

Asked if Isis was a takeover target, Crooke said, “Well, we certainly don’t want to be.”

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Trader disclosure: On Jan. 4, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: P. Najarian is long AAPL; P. Najarian is long C; P. Najarian is long JPM calls; P. Najarian is long WFC calls; P. Najarian is long MSFT; P. Najarian is long INTC; P. Najarian is long YHOO; P. Najarian is long MOS; J. Najarian is long call spreads AAPL; J. Najarian is long call spreads AKS; J. Najarian is long call spreads PNC; J. Najarian is long call spreads GS; J. Najarian is long call spreads CSCO; J. Najarian is long call spreads LULU; J. Najarian is long call spreads TIVO; J. Najarian is long call spreads TIMM

For Barbara Ryan
Abbott Laboratories - is company an Investment Banking client of DBSI and Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company within the past year. This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities-related services.

Bristol Myers Squibb Company is an Investment Banking client of DBSI and Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company within the past year. This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities-related services.

For Mark Gulley
No disclosures

For Stanley T. Crooke
No disclosures

For Ken Sena
Yahoo - Evercore or an affiliate expects to receive or intends to seek compensation for investment banking services from this subject company within the next three months.

Groupon - Evercore or an affiliate expects to receive or intends to seek compensation for investment banking services from this subject company within the next three months.

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