Aug. 23 Company Quick Takes: Amgen-Alexion, Lilly-Adocia, Gilead-Galapagos

Alexion takeout rumors ebb
Market speculation that a takeout of Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) by Amgen Inc. (NASDAQ:AMGN) cooled Friday as Alexion shares gave back Thursday’s gains. Both companies declined to comment on a Wednesday report from Spain’s Intereconomia.com that Amgen is close to acquiring the rare disease drug developer at $200 per share. William Blair analyst Tim Lugo said the firm is skeptical "given the lack of synergies between the focus of the two companies and the ongoing litigation regarding a Soliris biosimilar in the European Union." Alexion gained $8.33 to $123.49 Thursday, but gave back $8.16 to close at $115.33 Friday, nearly completing a round trip as U.S. markets fell amid the latest barbs in the U.S.-China trade war.

Tribunal rules in Lilly's favor in arbitration with Adocia
Adocia S.A. (Euronext:ADOC) fell $6.54 (32%) to $13.76 Friday after a tribunal dismissed its arbitration claim against Eli Lilly and Co. (NYSE:LLY) alleging that the pharma misappropriated and misused confidential information and discoveries from a diabetes deal terminated by Lilly in 2016. The American Arbitration Association Tribunal also dismissed a counterclaim from Lilly, which argued that Adocia had concealed those discoveries. Adocia said the outcome does not affect a 2018 decision by the tribunal to award Adocia $11.6 million in damages, plus interest, as compensation related to a disputed contractual milestone payment...