Drug developer Tesaro explores sale

Cancer drug developer Tesaro Inc is exploring a sale and is working with financial advisers after receiving takeover interest, Bloomberg reported on Friday, citing people familiar with the matter.

Shares of the Waltham, Massachusetts-based company rose as much as 44 percent on the news in regular trading.

The company, which has a market capitalization of $1.92 billion, said it does not comment on rumor or speculation.

According to the Bloomberg report , the advisers have begun contacting other potential suitors and the company could opt to remain independent.

Tesaro has received acquisition interest from several drugmakers in the past. In July, reports emerged of a possible buyout of the company by Swiss drugmaker Roche Holding AG.

Tesaro’s lead ovarian cancer drug, Zejula, competes with Clovis Oncology Inc’s Rubraca and AstraZeneca’s Lynparza – all of which belong to a closely watched class of new medicines called PARP inhibitors.

  • Related Posts

    • Pharma
    • December 23, 2024
    • 45 views
    Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

    India’s healthcare and pharmaceutical sectors raised Rs 14,811 crore through initial public offerings (IPOs) in 2024, the largest since 2019, driven by strong domestic demand amid expanding global opportunities. According…

    • Pharma
    • December 23, 2024
    • 70 views
    NPPA sets retail prices for 65 drugs, revises ceiling for 20 formulations

    The National Pharmaceutical Pricing Authority (NPPA) has fixed retail prices for 65 new drug formulations and notified ceiling price fixation of 13 formulations. The regulatory body, under the Department of…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

    Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

    NPPA sets retail prices for 65 drugs, revises ceiling for 20 formulations

    NPPA sets retail prices for 65 drugs, revises ceiling for 20 formulations

    India-Latin America trade and collaboration prospects discussed at Kerala University conference

    India-Latin America trade and collaboration prospects discussed at Kerala University conference

    Karnataka Govt Files Criminal Cases Against Pharma Firm In Ballari Maternal Deaths Case

    Karnataka Govt Files Criminal Cases Against Pharma Firm In Ballari Maternal Deaths Case

    NPPA Notifies Ceiling Price Of 13 Formulations, Retail Price Of 65 New Drugs

    NPPA Notifies Ceiling Price Of 13 Formulations, Retail Price Of 65 New Drugs

    Over 14,000 PMBJK Centres Set Up To Provide Generic Medicines: Govt

    Over 14,000 PMBJK Centres Set Up To Provide Generic Medicines: Govt