Healthcare Sector Review: Amgen’s M&A, Johnson & Johnson May Be Eyeing Elan

Amgen (NASDAQ:AMGN) and Micromet (NASDAQ:MITI) announced that the companies have entered into a definitive merger agreement under which Amgen will acquire Micromet, a biotechnology company founded in Germany with its research and development center in Munich and headquarters in Rockville, Md., for $11 per share in cash. The transaction, which values Micromet at approximately $1.16B, was unanimously approved by both the Amgen and Micromet Boards of Directors. The acquisition includes blinatumomab, a Bispecific T cell Engager, or BiTE, antibody in Phase 2 clinical development for acute lymphoblastic leukemia, or ALL. Blinatumomab is also in clinical development for the treatment of non-Hodgkin’s lymphoma, or NHL, and could have applications in other hematologic malignancies. The tender offer is not subject to a financing condition. The transaction is expected to close in Q1.

The shares closed at $10.94, up $2.66, or 32.13%, on the day. Its market capitalization is $1.01 billion.

Momenta Pharmaceuticals (NASDAQ:MNTA): Watson Pharmaceuticals (NYSE:WPI) confirmed that the United States Court of Appeals for the Federal Circuit has granted Watson and Amphastar Pharmaceuticals’ request for a stay of the preliminary injunction preventing the companies from marketing or selling Amphastar’s Enoxaparin Sodium Injection, a generic equivalent to Sanofi-aventis’ (NYSE:SNY) LOVENOX. The Federal Circuit’s Order does not represent a final decision with respect to the merits of the pending appeal or the underlying litigation. Amphastar and Watson plan to launch their Enoxaparin Sodium Injection product immediately.

The shares closed at $15.13, down $3.98, or 20.83%, on the day. Its market capitalization is $775.28 million.

Covance Inc. (NYSE:CVD): Wells Fargo reports 5.77% passive stake in Covance.

The shares closed at $43.31, down $3.84, or 8.14%, on the day. Its market capitalization is $2.63 billion.

Spectrum Pharmaceuticals (NASDAQ:SPPI) CEO says Q4 sales will match or beat Q3, Bloomberg reports.

The shares closed at $14.05, down $0.94, or 6.27%, on the day. Its market capitalization is $806.57 million.

NuVasive, Inc. (NASDAQ:NUVA)¬†disclosed last night thast a judge from the U.S. District Court, Southern District of California in San Diego delivered tentative and non-binding rulings on various post-trial motions, including Medtronic’s (NYSE:MDT) request for an injunction against NuVasive. The vompany continues to anticipate that a final judgment regarding Medtronic’s injunction request and the remainder of the issues and motions under dispute in the post-trial motion process will be delivered by the end of Q1 or early Q2. The court tentatively denied Medtronic’s motion for judgment as a matter of law, or in the alternative, new trial, and tentatively denied NuVasive’s motion for judgment.

The shares closed at $15.55, down $0.76, or 4.66%, on the day. Its market capitalization is $656.90 million.

Johnson & Johnson (NYSE:JNJ): Following Roche’s (RHHBY) bid for Illumina (NASDAQ:ILMN), rumors are swirling that Johnson & Johnson (NYSE:JNJ) could pounce on Elan (NYSE:ELN) with a “knock-out” cash offer, the Daily Mail reports. Johnson & Johnson holds an 18% stake in Elan.

The shares closed at $65.70, up $0.48, or 0.74%, on the day. Its market capitalization is $179.42 billion.

Bristol Myers Squibb Co. (NYSE:BMY) sees FY12 worldwide sales $17.2B-$18.2B vs. consensus $18.19B. Sees FY12 worldwide sales of PLAVIX approx. $2.7B. Sees FYgross margin as a percentage of sales being consistent with last year.

The shares closed at $32.48, down $0.22, or 0.67%, on the day. Its market capitalization is $55.04 billion.

Merck & Co., Inc. (NYSE:MRK): Sandoz, a Division of the Novartis group (NYSE:NVS), announced the launch of Sandoz Losartan and Sandoz Losartan HCT, generic equivalents to Merck Frosst’s (NYSE:MRK) Cozaar and Hyzaar, in Canada.

The shares closed at $38.78, up $0.1, or 0.26%, on the day. Its market capitalization is $118.20 billion.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com