BioMarin strikes cooperation deal with activist investor Elliott, sets up review committee and adds board members

More than a month af­ter ac­tivist in­vestor El­liott In­vest­ment Man­age­ment bought a $1 bil­lion stake in Bio­Marin, the two have reached a deal to co­op­er­ate and share in­for­ma­tion as they seek to boost the biotech’s per­for­mance.

Bio­Marin is al­so set­ting up a strate­gic op­er­at­ing re­view com­mit­tee on the board to re­view its busi­ness, strat­e­gy and op­er­a­tions, fi­nan­cial and cap­i­tal al­lo­ca­tion pri­or­i­ties as well as long-term plan­ning.

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