This from Beaker's Blog. Amgen is in a cash position to acquire another company(s) and it is only a matter of time. Amgen is sitting on $12.3 B in cash in international accounts and would have to pay 35% tax if they tried to repatriate funds. This makes spending on a foreign company particularly favorable -- meeting all other business and strategic criteria of course. It would be an acquisition with tax free profits.
Who are likely candidates? Beaker suggests UCB-Belgium, French drugmaker Ipsen (oncology, hematology, endocrinology), or Actelion (Europe's largest orphan drug producer). In the US, perhaps Dendreon-Seattle (oncology) or Human Genome Sciences - MD.
Again, seems like only a matter of time given cash position and need to grow revenues.
Posted by Bruce Lehr September 20th 2010.
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