Human Genome Sciences News

The latest chapter in Human Genome Sciences' battle to fend off a hostile takeover bid by British pharma giant GlaxoSmithKline played out in a Rockville courtroom Thursday morning.

The British pharmaceutical giant is looking to replace the entire board of Human Genome Sciences , the biotechnology company it is trying to acquire for $2.59 billion, according to people with direct knowledge of the matter.

If you expected the merger and acquisition standoff between GlaxoSmithKline and Human Genome Sciences to come to a resolution next week, think again.

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The board of Human Genome Sciences is being sued by a shareholder, and the court is being petitioned to stop the company from using its "poison pill" to prevent the $2.6 billion hostile takeover attempt by GlaxoSmithKline .

A shareholder at Human Genome Sciences Inc. has sued the Rockville biotech firm for mounting a poison pill defense to a $2.6 billion hostile takeover offer from GlaxoSmithKline.

Human Genome shareholder and plaintiff Duane Howell filed the lawsuit Friday, asking the court to restrain the board from invoking a stockholder rights plan adopted earlier this month , Reuters reports .

Shares of Human Genome Sciences opened at 13.88 on Thursday. Human Genome Sciences has a one year low of $6.51 and a one year high of $30.00. The company's market cap is $2.763 billion.

Just last month GlaxoSmithKline was in the news for a move to acquire Human Genome Sciences , its partner of up to twenty years for $2.6 billion.

News from Europe's pharmaceutical manufacturing industry coupled with upcoming events, and exclusive articles and interviews from industry experts.

The Smithsonian's National Museum of Natural History is developing its first major exhibit on the human genome with a $3 million pledge from the philanthropic foundation of Life Technologies Corp.

Two items on Thursday from Human Genome Sciences , as it reports that adoption of a rights plan for short-term shareholders, which will have the term of one year.

Spanish stocks dropped sharply early Friday morning after ratings agency Moody's downgraded its credit score of 16 Spanish banks in the latest blow to the troubled financial sector.

Oil prices hovered below $93 a barrel Friday in Asia, pausing after the latest twists in Europe's debt crisis triggered a sharp two-week selloff.

Human Genome Sciences on Thursday reiterated its rejection of longtime partner GlaxoSmithKline's takeover bid, saying it undervalues the Rockville biotech, and urged its stockholders to do likewise.

No sooner than the GlaxoSmithKline $2.6 billion offer was announced, Human Genome Sciences made its intentions known that it thought that it was drastically undervalued and rebuked the offer.

ROCKVILLE, Md.-- --May 17, 2012 - Human Genome Sciences, Inc. announced today that its Board of Directors has adopted a Stockholder Rights Plan and declared a dividend of one share purchase right for each share of HGS's common stock held of record at the close of business on May 29, 2012.

The number of people seeking U.S. unemployment benefits was unchanged last week, suggesting modest but steady gains in the job market.

Human Genome Sciences says its board has adopted a "poison pill" shareholder rights plan to ward off unsolicited takeover bids for the biotech drugmaker.

Human Genome Sciences announces adoption of short-term stockholder rights plan, with a term of one year.