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Human Genome Sciences Share News

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Human Genome Adopts Poison Pill With 15% Trigger To Deter Glaxo

DOW JONES NEWSWIRES Human Genome Sciences Inc. (HGSI) adopted a shareholder rights plan with a 15% trigger in the wake of GlaxoSmithKline PLC's (GSK, GSK.LN) $2.6 billion hostile takeover bid for the biotech firm and continued to suggest that shareholders reject the offer. Human Genome Sciences, based in Rockville, Md., last month rejected Glaxo's $13-a-share offer as too low and said it had hired two banks to advise it on "strategic alternatives," including a possible sale of the company. The company said Thursday the rights plan will allow its board the opportunity to complete its strategic review process and protect the long-term interest of its shareholders. A rights plan, also known as a poison pill, is often used to thwart potential hostile takeover offers by giving other shareholders the right to buy more shares at a discount if one shareholder buys a certain percentage of the company's stock. The plan is valid for one year. Human Genome reiterated Thursday that it is confident in the potential for its lupus drug, Benlysta, and that Glaxo's offer undervalues the company. Glaxo and Human Genome Sciences jointly sell the lupus drug that they developed together and share financial interest in drugs for diabetes and heart disease. Glaxo began working with Human Genome Sciences nearly 20 years ago, paying $125 million in 1993 to establish a research partnership with the company. Human Genome Sciences was one of the first biotech companies to emerge from the early 1990s push to map all of the genes in the human body. Shares were inactive premarket and closed at $14.25 on Wednesday. They are up 93% this year. -By Lauren Pollock, Dow Jones Newswires; 212-416-2356; lauren.pollock@dowjones.com

Stock News for Human Genome Sciences (HGSI)
DateTimeHeadline
08/03/201203:00:56GlaxoSmithKline Completes Acquisition of Human Genome Sciences
07/30/201209:06:49GlaxoSmithKline Gets 79% Tenders for Human Genome Sciences Offer
07/15/201219:10:13Glaxo Eyes Human Genome Sciences for $2.6 Billion
07/15/201215:49:18Sources Say GlaxoSmithKline in Talks to Acquire Human Genome...
07/11/201212:36:14Glaxo To File Experimental Diabetes Drug Albiglutide In Early...
07/10/201208:38:08Human Genome: FDA Sets Dec. 15 Action Date For Anthrax Treatment...
07/03/201217:08:09GlaxoSmithKline Readies Candidates to Replace Human Genome's...
06/29/201209:24:03Glaxo Keeps Pressure On Human Genome By Extending Offer To July...
06/29/201207:35:49GlaxoSmithKline Sets July 20 For Expiration Of Tender Offer To...
06/15/201210:42:11GSK Gets Renewed Invitation to Human Genome Sciences Strategic...
06/08/201209:10:55GlaxoSmithKline Extends HGS Offer To June 29
06/07/201211:43:24Glaxo Seen Likely to Extend Hostile Tender Offer for Human Genome
05/30/201211:58:59GlaxoSmithKline Is Said To Plan Effort To Replace Human Genome...
05/23/201209:12:46Glaxo Amends Offer To Address HGS Shareholder Rights Plan
05/17/201217:45:35ADR Report: Shares Lower As Euro-Zone Worries Loom
05/17/201213:54:16GlaxoSmithKline Offer To Acquire HGS Represents Full, Fair Value
05/17/201207:55:44Human Genome Adopts Poison Pill With 15% Trigger To Deter Glaxo
05/09/201209:33:24WSJ BLOG/Health: A.M. Vitals: GSK's Hostile Human Genome Bid;...
05/09/201205:02:12Glaxo Goes Direct To HGS Shareholders With Hostile Offer
05/09/201202:48:24GlaxoSmithKline To Launch $13/Share Tender Offer For To Buy HGS

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