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news.MedImmune has told investors that it will not be considering a strategic sale and will instead aggressively implement its business plan to maximize shareholder value.
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The company said that it had received a letter from shareholder David Katz, president of Matrix Asset Advisors, commenting on the company's quarterly results and suggesting that MedImmune consider a strategic sale.
MedImmune said that, on receiving the letter, the board met to discuss the suggestion, taking into account the recent publication of a successful pivotal clinical trial with refrigerated FluMist showing its superior efficacy over the flu shot in children under five years of age in the New England Journal of Medicine.
After careful review of these and other considerations with its outside advisors, MedImmune concluded that it would “aggressively implement its business plan” rather than consider a sale.