Novo Nordisk To Gain Full Ownership Of Eligen SNAC Technology With Acquisition Of Emisphere

Novo Nordisk A/S (NVO) has agreed to acquire Emisphere Technologies Inc., a drug delivery company with proprietary technologies that enable oral formulations of therapeutics. The acquisition provides Novo Nordisk full ownership of the Eligen SNAC technology, which has been used under a licence agreement to develop the first oral biologic, Rybelsus.

Novo Nordisk will acquire all outstanding shares of Emisphere for $1.350 billion. Novo Nordisk will also acquire related Eligen SNAC royalty stream obligations owed to MHR Fund Management LLC, the largest shareholder of Emisphere, for $450 million. The total acquisition price is $1.8 billion.

Novo Nordisk said the transaction will not impact its previously communicated operating profit outlook for 2020 or the ongoing share buyback programme. The acquisition is anticipated to have a net negative impact on operating profit of less than one percent in 2021 and broadly neutral to positive impact in the following years.

LendingTree Guides Q4 Revenues Just Below Estimates – Quick Facts

While reporting financial results for the third quarter on Thursday, financial services firm LendingTree, Inc. (TREE) provided revenue guidance for the fourth quarter, just below analysts’ estimates.

For the fourth quarter, the company expects revenues in a range of $200 million to $215 million. On average, analysts polled by Thomson Reuters expect the company to report revenues of $215.4 million for the quarter.

LendingTree had withdrawn its full-year 2020 guidance due to economic uncertainty related to COVID-19 in mid-April.

Joe Biden's lead in Pennsylvania grows

San Francisco (CNN Business)MSNBC’s Rachel Maddow is placing herself under home quarantine, she announced, after a person close to her tested positive for the coronavirus.

“Everything happens, all at once,” the anchor tweeted on Friday. “I have had a close contact test positive for COVID.”
Maddow said she has tested negative so far, but will be quarantining until “it’s safe for me to be back at work without putting anyone at risk.”

An NBC spokesperson did not immediately respond to a request for comment on who will take over Maddow’s 9 p.m. ET slot, but the anchor assured her followers that they would be “in good hands tonight with Nicolle and Joy and Brian and the Great and Good Mr. Kornacki and the whole MSNBC crew.” Nicolle Wallace, Joy Reid, Brian Williams and Steve Kornacki are part of the cable news network’s all-star lineup covering this week’s historic election.
Kornacki, in particular, has gained new celebrity status on social media for his real-time analysis as the ballots are counted across key battleground states.

Maddow’s sudden absence comes during a tense time for the network, and for cable news in general, with all eyes on the still-pending election results.

Stock Alert: Epizyme Plunges Following Q3 Results

Shares of drug maker Epizyme, Inc. (EPZM) are falling more than 18% Friday morning at $11.02 after the company reported wider loss for the third quarter.

Net loss for the quarter widened to $56.07 million, or $0.55 per share from $36.09 million or $0.40 per share loss a year ago.

Revenue for the third quarter declined to $3.57 million from $5.72 million last year.

In a separate release, Epizyme announced expanded loan facility with Pharmakon Advisors, an affiliate of Royalty Pharma, for additional $150 Million to fund its growth initiatives.

Epizyme and Pharmakon Advisors originally executed their agreement in November last year and the company had drawn $70 million.

The stock has been trading in the range of $9.90- $27.82 in the last one year.

Pennsylvania is coming down to the wire as Joe Biden is in striking distance of winning the state. Follow the live 2020 presidential election results here.

• Explore more race results below.
• As of 11:30 p.m. ET Pennsylvania has not been called. Follow the live results here.
• Pennsylvania has voted for a Democratic president in seven of the last 12 elections.
• The state has 20 electoral votes.
• Pennsylvania's congressional delegation is split: 10 Republicans and 10 Democrats.
• See the live coverage and full results from the US presidential election.
• Visit Business Insider's homepage for more stories.

• PA-01
• PA-07
• PA-08
• PA-10
• PA-16
• PA-17

As of 11:30 p.m. ET Pennsylvania has not been called. 

Pennsylvania has voted for a Democrat in seven of the last 12 presidential elections. The state is home to competitive down-ballot races for attorney general and in Pennsylvania's 1st, 8th, and 10th Congressional Districts.

Control over Pennsylvania's state government is split: the governor is a Democrat while the Republicans hold both chambers of the state legislature. In Congress, Pennsylvania's delegation is split: 10 Democrats and 10 Republicans. The state has 20 electoral votes and is expected by analysts to be competitive.

Issa Wins California House Race; Republicans Hold

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Republican Darrell Issa won California’s 50th Congressional District near San Diego, the Associated Press projected, defeating Democratic challenger Ammar Campa-Najjar.

Issa had served in Congress for nine terms, but decided not to seek re-election in 2018. Campa-Najjar is a former Obama administration official.

The 50th district has been open since former Republican Congressman Duncan Hunter resigned from office in January over misuse of campaign funds.