GenPharm's time to sell

Last week's announcement that Medarex Inc. will acquire GenPharm International Inc., for up to $65 million in MEDX common stock, put an upbeat wrap on the GenPharm story.

After completing both a $57 million licensing agreement with Centocor Inc. (CNTO, Malvern, Penn.) for its HuMab mouse technology and settling its lengthy altercation with Cell Genesys Inc. (CEGE, Foster City, Calif.) in March, GenPharm President and CEO Jonathan MacQuitty said the company received acquisition overtures from a number of companies before finding a fit with MEDX (Annandale, N.J.)