|Bid||29.00 x 0|
|Ask||29.20 x 0|
|Day's range||28.80 - 29.49|
|52-week range||11.06 - 30.75|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.30 (1.08%)|
|1y target est||30.24|
Varian’s offer for Sirtex Medical Limited (ASX:SRX) at $28 a share seemed attractive, but CDH Investments raised it by 20%.
Liver cancer treatment developer Sirtex could soon be at the centre of a bidding war, as a second suitor has lodged a formal takeover offer.
Australian-based liver cancer treatment developer Sirtex Medical is committing to a takeover deal with Varian, despite a higher proposal from CDH Investments.
Biotech Sirtex Medical, which is subject to a $1.6 billion takeover proposal from Varian Medical Systems of the US, has lifted its first-half net profit by 13 per cent and maintained its earnings guidance for the full year. The developer of an internal radiation therapy for liver cancer made a net profit of $23.5 million in the six months to December 31, with a restructure undertaken in June boosting its margins. "We are delighted with our first-half financial performance, which represents a substantial turnaround in the profitability of the business," chief executive Andrew McLean said in a statement.
Biotech Sirtex Medical has lifted its first-half net profit by 13.2 per cent to $23.5 million after a restructure undertaken in June boosted margins. However, revenue for the six months to December 31 ...
The head of Sirtex Medical says he is not surprised US suitor Varian Medical offered a 49 per cent share price premium in its $1.6 billion takeover offer for the Australian cancer treatment developer . Sirtex CEO Andrew McLean says he was "not at all" surprised by Varian's offer, which at $28 for each Sirtex share represents a 49 per cent mark-up on the January 29 closing price of $18.83, and a 60 per cent premium to the average price over January. "Sirtex is a wonderful business with strong prospects," Mr McLean said on Wednesday.
Shares in liver cancer treatment developer Sirtex Medical have soared, gaining almost 50 per cent after resuming trading on Wednesday following news that US cancer care firm Varian has agreed to pay $1.6 ...
Australian-based liver cancer treatment developer Sirtex Medical has agreed to a $1.6 billion takeover offer from US company Varian. Sirtex distributes a radiation therapy to more than 1,090 hospitals in over 40 countries, and currently has a market value of $1.05 billion. Varian, which is listed on the New York Stock Exchange with a market value of $US11.8 billion, is based in California and develops radiotherapy and screening technology to treat cancer.
Shares in Sirtex Medical have been placed in a trading halt ahead of what the cancer treatment specialist called a "potential material corporate transaction". The liver cancer treatment developer, which booked a $26.3 million loss in 2016/17 after writedowns and failed clinical trials, this month said it expects underlying first-half earnings of $34 million - a 16 per cent improvement on the previous first half.
Sirtex Medical shares have surged after the liver cancer treatment specialist flagged improved first-half earnings and a turnaround in second-half sales. Sales of the company's SIR-Spheres microspheres - a product used to deliver medication to cancer sites inside the body - were flat in the first half but Sirtex CEO Andrew McLean, who took up his role in May, said the company expects higher sales in the second half of 2017/18.
Liver cancer treatments group Sirtex Medical says dosage sales in the first three months of the current financial year have been flat and sales revenue is down because of adverse currency movements, but profit is improving. Chief executive Andrew McClean has told shareholders that the first quarter is showing "some early favourable results" from the company's efforts to improve efficiency and productivity. Sirtex's main product is a medical device called SIR-Spheres Y-90 resin microspheres, to treat liver cancer.