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More M&A in Biotech:
NEW YORK (Reuters) - Activist investor Elliott Investment Management has built a stake in BioMarin Pharmaceutical and has been in discussions with the biotechnology company for months about its future, according to two people familiar with the matter.
This should read well for PointBio and Lilly paying up and also nice read across to Avacta’s Affyxell!!
Early buying and the 25/ buyer will need to pay above 150 very soon.
Size buyer before midday is looking at 155-60.
Lilly will have to pay up for Point Bio and it makes Avacta’s JV with Point look even more interesting and valuable.
Size buyer could be testing the offer price any minute, before it is too late and we will be looking at 8 month’s high.
Affordable EVs power India growth
India’s electric-vehicle market is taking off because of an abundance of cheap new models.
Sales of passenger EVs in the country rose to 75,000 in the nine months through September — that’s more than double the volume during the same period last year.
While their share of the total market remains small at 2.4%, a closer look at the underlying trends highlights an important insight for EV makers hoping to make inroads in India: Some 86% of all electric cars sold this year were priced under $20,000.
Many of them were introduced this year, including the cheapest — MG’s Comet mini car that sells for less than $10,000. Tata Motors’ best-selling Tiago compact EV accounted for 39% of EV shipments and retails for around $10,500. Deliveries of the model started early this year.
When looking at statistics across all drivetrains, it quickly becomes clear that affordable small cars and compact SUVs are dominating. About 69% of cars sold in India last year were priced below $15,000, while 27% cost less than $10,000. Top-selling combustion-engine models such as Suzuki’s Swift and Wagon R retail for less than $8,000.
Offering EVs at similar prices has helped automakers secure demand from private customers, especially from those commuting to their offices in India’s urban markets. Because of low operating costs, battery-powered cars are also popular among ride-hailing and taxi companies.
The surge in demand has sparked promises to produce more EVs locally. Automakers have committed nearly $5.4 billion in investments to set up or expand their EV manufacturing facilities in India, data from BloombergNEF shows.
Pledges have come from domestic players Tata Motors and Mahindra & Mahindra but also Korean automakers Hyundai and Kia. Vietnamese EV startup VinFast recently disclosed plans to set up an EV manufacturing facility in the country by 2026. The government will subsidize some of this capacity, part of its efforts to reduce India’s reliance on imports for key EV components.
In June, after meeting Prime Minister Narendra Modi in the US, Tesla Chief Executive Officer Elon Musk said it’s “quite likely” that the manufacturer will make a significant investment in India. This came after a standoff between the automaker and New Delhi on the issue of high taxes on importing cars to India. Reports suggest that India might now extend tax breaks to automakers that commit to set up domestic production lines. Musk’s comments should be taken with a pinch of salt though, given that talks of potential new plants have come up during nearly all of his meetings with foreign politicians in recent months.
Commitments to set up local battery plants have also proliferated, supported in part by government subsides. Companies including Tata Group, Amara Raja, Exide Industries and Ola Electric – all local players – have announced a total of 12.6 gigawatt-hours of cell manufacturing capacity. M
Very strong possibility that C7 data will be announced with a license deal
With one of the major Pharma’s. Record Upfront payment !
Share price could easily post news end above LFT levels.
Interesting opening on Monday indeed! Hope you are all on board. Enjoy the week end,
As discussed before, size buyers have to pay 145+ any minute.
The latest link is excellent timing and having Eli Lilly in their Q3 eps presentation talking about “ invest in future innovation “.
Point Biopharma will help them getting a chat with Avacta.
Before Ny , Look out for pre MSCI related buying: Blackrock , Norges Bank, Dws etc happened last time we had LFT related price movement.
Our buyer is having a good time this morning, picking up stock while he can below 140, the Numis “ research” note is a complete joke as was Deutsche Bank’s acquisition of Numis, 60% of the staff will leave once their 12 months contractual lock up is over.
Meanwhile overhead in NY ( with a Swiss accent ) “ try and get size below 170”
Good luck everybody, but whatever you do, never sell.
You will never get back in again in size below today’s level.
Which comes first 170 or RNS?