Myogen, How Things Have Changed

By Mark Phillips, 10-09-06

Colorado banks are doing well. So says the Federal Deposit Insurance Corporation (FDIC) as reported in Thursday's Denver Business Journal.
Heritage Bank certainly did well this week. Albuquerque-based First Community Bank, a subsidiary of Albuquerque-based First State Bancorp., bought locally owned Heritage Bank this week for $72M. Colorado Gubernatorial candidate Bob Beauprez stands to net over $16M from the sale.
In other recent acquisition news, Boulder favorite Izze announced its sale to Pepsico, Crocs purchased Zibbitz, and Myogen sold to Gilead Sciences Inc. for nearly $2.5 billion.
The Denver Post has a nice back-story on the Myogen deal. In June 2005, the company offered workers a sheet cake as a thank you for years of hard work with disappointing results. Myogen, how things have changed! I wonder what kind of cake they had this week?
[End of article]