Posted by Steve Johnson on March 24th, 2009 at 3:57 pm | Categorized as Tech | Tagged as Add new tag, Biotechnology, CV Therapeutics, Gilead Sciences
The $1.4 billion deal that Foster-City based Gilead Science’s announced March 12 to buy CV Therapeutics of Palo Alto has triggered a class-action shareholder lawsuit.
The legal action, which CV Therapeutics disclosed today in a filing with the U.S. Securities and Exchange Commission, was filed March 19 in Santa Clara County Superior Court by a group called Superior Partners. It accuses CV Therapeutics and its board of failing in their fiduciary duty to stockholders.
Among other claims, the suit alleges that CV Therapeutics’ board limited the number of potential buyers for the company and had a conflict of interest because they will receive monetary compensation from the sale.
CV Therapeutics denied the claims.
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Posted by Jack Davis on March 18th, 2009 at 5:18 pm | Categorized as CV Therapeutics, Docu-Drama, Gilead Sciences | Tagged as Astellas Pharma, CV Therapeutics, Gilead Sciences, Mergers and Acquisitions
Louis Lange, the chief executive of CV Therapeutics, agreed in effect to sell his entire stake in the company to Gilead Sciences as an “inducement” to that company to enter into an agreement to buy CV Therapeutics for $20 a share, according to a filing today with the SEC. Lange owns about Read the rest of this entry »
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Posted by Jack Davis on March 5th, 2009 at 6:57 pm | Categorized as CV Therapeutics, Docu-Drama, Drug trials | Tagged as CV Therapeutics, Drug development, Drug trials
CV Therapeutics, the Palo Alto biopharmaceutical company fending off unsolicited overtures from Japan’s second largest drug company, reported today that its new oral compound CVT-3619, designed to treat cardiometabolic diseases, was “well tolerated “with no serious adverse events and was associated with a reduction of free fatty acids.”
The Phase 1, single-blind, placebo-controlled, single-ascending-dose study involved 55 healthy and 23 obese volunteers. “No clinically meaningful changes in Read the rest of this entry »
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Posted by Jack Davis on February 27th, 2009 at 4:11 pm | Categorized as CV Therapeutics, Docu-Drama | Tagged as Astellas Pharma, CV Therapeutics, hostile takeovers, Posion pill
Astellas Pharma is appealing directly to the stockholder of CV Therapeutics, offering to give them $16 a share, an offer it has unsuccessfully made twice before to CV’s board, most recently a week ago.
“While we continue to prefer to reach a negotiated agreement Read the rest of this entry »
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Posted by Jack Davis on February 20th, 2009 at 6:26 pm | Categorized as Biotech, CV Therapeutics, Mergers and Acquisitions | Tagged as Astellas Pharma, CV Therapeutics, Mergers and Acquisitions, Poison pill
CV Therapeutics, the Palo Alto maker of the chest-pain treatment drug, Ranexa, said Friday the company’s board turned down an offer to buy it for $16 a share from Japan’s second-largest drug maker, Astellas Pharma.
We posted last month about the first offer Read the rest of this entry »
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Posted by Jack Davis on January 30th, 2009 at 2:21 pm | Categorized as CV Therapeutics, Poison pill | Tagged as Astellas Pharma, CV Therapeutics, Mergers and Acquisitions, Posion pill, Ranexa
The board of directors at CV Therapeutics decided to extend by a year the shareholders rights plan they have in place to fend off hostile takeovers. The plan, otherwise known as a poison pill, was set to expire Read the rest of this entry »
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Posted by Jack Davis on July 11th, 2008 at 1:35 pm | Categorized as CV Therapeutics, Drug trials | Tagged as CV Therapeutics, Drug trials, Regulatory approval
CV Therapeutics said Thursday that European officials gave it the OK to market ranolazine, its treatment for patients suffering from angina, in all 27 states of the European Union. The move comes months after the European Medicines Agency gave a positive opinion Read the rest of this entry »
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