Wednesday, 22 October 2014
Last updated 11 hours ago
Aug 29 2014 | 7:23am ET
Pharmaceutical giant Merck & Co. will have to answer a hedge fund’s questions, a federal judge ruled this week.
U.S. Magistrate Judge Douglas Arpert in Trenton, N.J., ordered Merck to respond to a subpoena issued by BVF Partners, part of its lawsuit against Celera Corp. Celera has a royalty interest in an osteoporosis drug sold by Merck, Odanacatib.
BVF, which runs the Biotechnology Value Fund, has sued Celera for allegedly undervaluing the company as part of its sale to Quest Diagnostics in 2011. In particular, the hedge fund says that Celera downplayed Odanacatib’s value.
Arpert noted that Merck’s “analyses and valuations of Odanacatib could serve as important data points to establish the true value of the drug.”
Odanacatib is still awaiting federal approval.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...