predator eyes pharmaxis - afr

http://afr.com/p/opinion/predator_eyes_pharmaxis_kPP2HzUjXIv0KFpAfHWT2L

Specialty pharmaceutical company Pharmaxis, which has Allan Gray fund manager Simon Marais on the shareholder register with 19.19 per cent, was the subject of takeover speculation over the weekend.

An offshore party is working up a bid proposal and has engaged an investment banking adviser, sources told Street Talk.

A Pharmaxis spokeswoman declined to comment.

Analysts are bullish on Pharmaxis because of its successful launch of Bronchitol in Germany and US Food and Drug Administration acceptance for a standard review of Pharmaxis’s new drug application for cystic fibrosis patients.

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The Australian Financial Review