Does Carl Icahn (photo) have another biopharma company in his sights? Institutional Investor thinks so. The activist investor has bought a stake in Amgen, and given his history of agitating for change at drug companies, that could mean he's preparing a salvo of criticism for Amgen's leadership and board.
For example, Icahn roiled the waters at Biogen Idec, where he lobbied for a sale. When a deal didn't materialize, he launched a proxy fight, winning two seats on the board. To avoid a second proxy battle, Biogen came to terms with Icahn, agreeing to give him seats on the board for two more of his hand-picked nominees.
Icahn has also stirred the pot at Amylin Pharmaceuticals, Eli Lilly's partner on the Byetta diabetes drug. He moved in on Genzyme, too, but that battle is clearly over; Genzyme is now part of Sanofi. However, he does maintain a stake in Sanofi as well. Most famously, his activities at MedImmune and ImClone Systems ended in big buyouts from Big Pharma. Whether Icahn is eyeing another Big Pharma deal, this time for Amgen, remains to be seen.
- see the story from Institutional Investor