Elliott Management Corp. is taking another run at the drug-discovery sector. A campaign against UK pharmaceutical giant GSK Plc in 2021 proved unusually tough going for the feared agitator. But its latest target, US biotech BioMarin Pharmaceutical Inc., lacks GSK’s defenses.

Paul Singer’s hedge fund has been busy in healthcare, and recent campaigns have garnered results, but the subjects have been in services and manufacturing rather than the riskier business of turning costly R&D into medical breakthroughs. The memory of GSK still lingers in the market. The company repelled Elliott’s call for Chief Executive Officer Emma Walmsley to reapply for her job ahead of it splitting into pharmaceutical and consumer stocks.

QOSHE - What Comes After Elliott Buys a Stake? A Deal - Chris Hughes
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What Comes After Elliott Buys a Stake? A Deal

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10.11.2023

Elliott Management Corp. is taking another run at the drug-discovery sector. A campaign against UK pharmaceutical giant GSK Plc in 2021 proved unusually tough going for the feared........

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