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Fly News Breaks for August 23, 2019
ALXN, AMGN
Aug 23, 2019 | 08:30 EDT
Cowen analyst Yaron Werber said unsubstantiated reports have Amgen (AMGN) pursuing an acquisition of Alexion (ALXN). The analyst said such a combination does not make strategic sense and would not fit Amgen's strategic matrix and that it would roll Amgen backwards just as it is beginning to see new growth ahead. As such, he said a deal is unlikely and if done, would not be well received by the Street. Werber reiterated his Outperform rating and $231 price target on Amgen shares.
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