Celgene Corporation (CELG), Compugen Ltd. (USA) (CGEN): This Week in Biotech

but it was done in by an exceptionally strong performance by the placebo. Isis will still be researching CRPrx for other indications. However, as I noted earlier this week, having 31 potential sources of revenue as well as 12 ongoing collaborations, I’d suggest Isis is in much better shape than investors realize.

The end of the week didn’t bring good tidings for shareholders of Novo Nordisk A/S (ADR) (NYSE:NVO), which, according to a report from BioCentury, received a second complete response letter (i.e., a rejection letter) from the FDA for its recombinant Factor VIII therapy to treat a form of hemophilia. According to the report, the rejection is based on unresolved issues at Novo Nordisk A/S (ADR) (NYSE:NVO)’s manufacturing facility and merely adds to a series of struggles the company has had with regard to advancing its hemophilia-related pipeline. As you might expect, Novo Nordisk A/S (ADR) (NYSE:NVO) is working with the FDA to resolve this issue as quickly as possible.

Finally, off in its own world this week is Onyx Pharmaceuticals (NASDAQ:ONXX) , which purportedly has received a $130-per-share buyout offer, or $9.5 billion, from Amgen, as Reuters reported earlier this week. According to people familiar with the matter, Onyx Pharmaceuticals (NASDAQ:ONXX) is still exploring interest from other suitors, but it may be interested in accepting Amgen’s offer, which is $10 a share higher than its original offer roughly six weeks ago. This news comes on the heels of Onyx Pharmaceuticals (NASDAQ:ONXX)’s second-quarter results, which showed losses were halved to just $53 million and revenue more than doubled to $153 million. If Onyx Pharmaceuticals (NASDAQ:ONXX) accepts the deal at $130 per share, I’d suggest Amgen is still getting itself a decent bargain.

The article This Week in Biotech originally appeared on Fool.com is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.The Motley Fool recommends Celgene.

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