Navigation Links
CV Therapeutics' Board of Directors Rejects Astellas Unsolicited Proposal
Date:2/20/2009

PALO ALTO, Calif., Feb. 20 /PRNewswire-FirstCall/ -- CV Therapeutics, Inc. (Nasdaq: CVTX) today announced that its board of directors has thoroughly reviewed and rejected the previously announced unsolicited proposal from Astellas Pharma Inc. to acquire CV Therapeutics at a price of $16.00 per share.

After careful consideration of the proposal with its independent financial and legal advisors, the CV Therapeutics board concluded that the Astellas proposal significantly undervalues the company and is not in the best interests of CV Therapeutics and its stockholders. The board had previously rejected the same proposal on November 21, 2008, when Astellas approached the company privately.

"CV Therapeutics has a strategic plan in place which we believe will enhance shareholder value. Moreover, we have always been, and remain, receptive to opportunities to further enhance shareholder value. Executing on our strategic plan enabled us to achieve outstanding results in 2008, with multiple regulatory approvals, record revenues and two exceptional strategic transactions. This strong record of product approvals, which exceeds that of many pharma companies over the last several years, has allowed the company to establish a solid cash position. The full promotional launch of the improved U.S. Ranexa labeling is just beginning, the introduction of Ranexa in Europe is imminent, and Lexiscan is showing real growth in the marketplace. Accordingly, we expect 2009 to be another outstanding year, highlighted by increasing revenues and pipeline advancement, for example with CVT-3619," said Louis G. Lange, chairman and chief executive officer of CV Therapeutics.


    Following is the text of the letter being sent by CV Therapeutics today
    to Masafumi Nogimori, president and chief executive officer of Astellas
    Pharma:

 
'/>"/>
SOURCE CV Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. CV Therapeutics Reports 2008 Fourth Quarter and Full Year Financial Results
2. Sopherion Therapeutics Secures $55 Million in Series C Funding
3. Amicus Therapeutics Announces Change to Board of Directors
4. Opsona Therapeutics Closes EUR18M Funding
5. Sirion Therapeutics Partners With Advanced Vision Research (TheraTears(R)) to Promote Products for Retinal and Meibomian Gland Health
6. First Multiple Dose Clinical Trial of TorreyPines Therapeutics Oral Compound NGX426 Demonstrates Compound Is Safe and Well-Tolerated
7. United Therapeutics to Announce 2008 Fourth Quarter and Annual Financial Results Before Market Open on Tuesday, February 17, 2009
8. Northwest Biotherapeutics Secures $700,000 Equity Financing
9. iCo Therapeutics Closes $1.3 Million Private Placement
10. Cell Therapeutics, Inc. (CTI) BIO CEO Presentation to be Webcast
11. Amicus Therapeutics Announces Fourth Quarter and Full Year 2008 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/22/2015)... The laboratory information management systems market is a rapidly ... advancements due to factors such as rising pressure to ... systems, and increasing government support for adoption of HCIT ... in the market focus on technological advancements to further ...
(Date:1/22/2015)... 22, 2015 zFlo Motion , a ... announce an exciting product from a new partner. STT-Systems ... over the past 15 years, with offerings in the optical-motion ... 3D IMU system (inertial measurement unit), iSen, is opening eyes ...
(Date:1/22/2015)... 22, 2015 Diagenode, Inc., a ... the Bioruptor® and complete solutions for epigenetics research, ... immunoprecipitation, alleviating the need for manual processing. The ... for ChIP of histones or transcription factors and ...
(Date:1/22/2015)... 22, 2015   GenoSpace , a precision medicine software company ... the broad use of genomic, imaging and other biomedical data ... Michelle Munson , CEO of Aspera, an IBM Company, ... - http://photos.prnewswire.com/prnh/20150122/170713 "We are pleased ...
Breaking Biology Technology:Laboratory Information Management Systems Market is Expected to Reach $1,323.6 Million by 2019 - New Research Report by MarketsandMarkets 2Laboratory Information Management Systems Market is Expected to Reach $1,323.6 Million by 2019 - New Research Report by MarketsandMarkets 3Laboratory Information Management Systems Market is Expected to Reach $1,323.6 Million by 2019 - New Research Report by MarketsandMarkets 43D Motion Capture Just Got Easy 2Diagenode Launches Unique Semi-Automated Solution for Chromatin Immunoprecipitation 2GenoSpace Expands Board with Appointment of Michelle Munson 2
... - The Culex quinquefasciatus mosquito poses a ... of elephantiasis-causing worms and encephalitis-inducing viruses. An international team ... and the SIB Swiss Institute of Bioinformatics sequenced its ... articles published in today,s issue of Science, describe results ...
... - YM BioSciences Inc. (NYSE Amex: YMI, TSX:YM), ... its CYT387 JAK1/JAK2 inhibitor program demonstrating that CYT387 ... which may provide significant clinical advantages. CYT387 is ... study at Mayo Clinic in patients with myelofibrosis. ...
... Inc. - (OTC Bulletin Board: BHRT ) ... of autologous cell therapies for the treatment of cardiovascular ... commitment from Seaside National Bank and Trust for a ... Company,s loan with Bank of America. The loan is ...
Cached Biology Technology:Major disease-vector mosquito reveals the secrets of its immune system 2YM Biosciences To Present Poster On CYT387 At The European School Of Haematology International Conference 2YM Biosciences To Present Poster On CYT387 At The European School Of Haematology International Conference 3Bioheart, Inc. Announces Loan to be Assumed by Seaside 2Bioheart, Inc. Announces Loan to be Assumed by Seaside 3
(Date:1/22/2015)... Washington , January 20, 2015 Investorideas.com, ... tech stocks, releases video from the CES 2015 (Consumer Electronics ... Apollo Robbins . Apollo shows how easily ... smart wallet, a product of NXT-ID, Inc. (NASDAQ: ...
(Date:1/22/2015)... Jan. 22, 2015 Infinisource has launched its new NXG ... model. The G2 sets a higher standard for collecting attendance ... management solution. With plug-and-play installation, touch screen interface and seamless ... a robust time collection solution for the small to mid-size ...
(Date:12/19/2014)... , Dec. 18, 2014 Research and Markets ... the "iPhone 5S Fingerprint Sensor - Apple/AuthenTec TMDR92 ... offering. http://photos.prnewswire.com/prnh/20130307/600769 ... Apple introduced the fingerprint reading feature with the iPhone ...
Breaking Biology News(10 mins):Apollo Robbins Talks about the Illusion of Personal Safety and How Easily Your Wallet is Stolen; If a Wocket Wallet is Stolen the Thief Can't do Anything With it! 2Apollo Robbins Talks about the Illusion of Personal Safety and How Easily Your Wallet is Stolen; If a Wocket Wallet is Stolen the Thief Can't do Anything With it! 3Infinisource's NXG series sets new time clock standard 2iPhone 5S Fingerprint Sensor - Apple/AuthenTec TMDR92 & Sapphire - Technology Report 2
... biomedical engineer and colleagues have developed a method that, applied ... with increased breast cancer risk the pain and stress of ... lesion. The universal technology will give radiologists greater confidence ... The American Cancer Society recommends that women with certain ...
... an effort to increase understanding of the medical device ... of product development more effectively, researchers at Stanford University ... device development process. Published in the June ... , the model was constructed based on best-practice analysis ...
... Fla. -- The U.S. National Science Foundation (NSF) announced ... of building a multi-decadal time series of Agulhas Current ... Observing System. Led by Principal Investigator, Lisa Beal, ... Marine and Atmospheric Science, the international team will include ...
Cached Biology News:New MRI technique could mean fewer breast biopsies in high-risk women 2Stanford researchers publish comprehensive model for medical device development 2Stanford researchers publish comprehensive model for medical device development 3NSF provides $3.4 million to study climatically important Agulhas Current 2
... in your 35mm dish without transferring ... Chamber has separate openings for solution ... fluctuations of the liquid level in ... from entering the chamber. An adjustable ...
... Five cells (BTI-TN-5B1-4) derived from Trichoplusia ... shown to be capable of expressing ... proteins compared to other insect cells. ... features:- -Rapid doubling time as adherent cultures- Quick ...
... steadylite plus assay system offers ... sensitivity, Designed for batch-processing systems, ... higher density microplates such as ... free, Convenient storage conditions ( ...
... This kit consists of universal lysis buffer, ... primers for 100 25 l volume PCR ... of Gram negative or positive rod and ... Pneumoniae, Bacillus Cereus, Staphylococcus Aureus, Streptococcus Agalactiae, ...
Biology Products: