Bristol-Myers, Incyte and BioMarin could be acquisition targets for Gilead
08 FEB 2017
Bristol-Myers Squibb (NYSE: BMY) as well as the smaller pharms Incyte (Nasdaq:INCY) and BioMarin Pharmaceutical (Nasdaq:BMRN) could be the target for acquisition by Gilead Sciences (Nasdaq:GILD), Barron's reported, citing an analyst at asset manager Gabelli for the opinion. California-based Gilead is turning its attention now to what it could do to reverse its outlook, including a possible big purchase of another company, Barron’s wrote in an online story Wednesday.
Jing He, an analyst at Rye, New York-based Gabelli said the asset manager couldn’t rule out the acquisition by Gilead of Bristol-Myers Squibb due to the recent setback of New York-based BMS in lung cancer. Jing He also said she believes Incyte could be a good fit as a result of Gilead’s interest in a growth oncology asset, Barron’s reported. BioMarin is another possibility as it provides growth and has the size Gilead likes, according to the report.
Gilead, which reported its earnings Tuesday, 7 January 2017, reconfirmed its willingness to acquire assets with pipeline value, the analyst said in the report cited by Barron’s.
The report may be seen at the link below.