The activist investing giant Elliott Investment Management has bought over a $1 billion stake in BioMarin, a person familiar with the matter tells Endpoints News.
Elliott’s involvement, first reported Tuesday by Reuters, is the latest development for the California drugmaker, which has failed to meet its own sales targets for the launch of its hemophilia gene therapy Roctavian. Elliott and BioMarin have been engaged in discussions for several months, according to a person familiar with the matter.
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