UPDATE 1-Optimer shares rise after report names Glaxo, Cubist as potential buyers

buyers@

* Co aims to get as much as $1 bln - report

* Optimer could get $15-$16/shr - analyst

* Shares up 18 pct

(Adds comments from an analyst, details)

April 2 (Reuters) - Shares of Optimer Pharmaceuticals Inc rose as much as 24 percent after a Bloomberg report said GlaxoSmithKline Plc and Cubist Pharmaceuticals Inc were among those interested in buying the antibiotic maker.

Optimer, the maker of diarrhea drug Dificid, aims to get as much as $1 billion in a possible auction, the report said, quoting two unnamed sources. (http://link.reuters.com/cys96t)

The report also named AstraZeneca PLC and Japan's Astellas Pharma Inc as potential buyers.

Robert W. Baird & Co analyst Brian Skorney said the $1 billion target implied a price of about $18 per share, which, he felt, would be difficult to achieve.

"I think we can see a $15 to $16 (per share) deal get done," Slorney said, calling the jump in Optimer's stock price a probable overreaction.

Tuesday's gains in the stock price eclipsed the 13 percent jump it had seen on Feb. 27, when the company first said it would explore a sale after replacing its CEO.

The shares were up 18 percent at $13.84 in afternoon trade on the Nasdaq, well above their closing price of $12.13 on Feb. 27.

"I think bankers are probably leaking some information to try drum up some more enthusiasm to get a higher deal value than what is already on the table," Skorney said.

Analysts have previously identified Pfizer Inc, Viropharma Inc and Cubist as potential suitors for Optimer.

"Anyone who has commercial infrastructure selling hospital-based antibiotics could be a bidder here," Skorney said.

"Astellas is already partnered with Optimer and since they already own most of the worldwide rights, it makes sense to consolidate everything."

Similarly, he said, Pfizer Inc had a number of antibiotics that would go generic over the next couple of years, so bidding for Optimer would make sense for it too.

Skorney said the cost, and the benefit, of the acquisition would be trivial for companies like Glaxo and Johnson & Johnson , but Forest Laboratories and Cubist would have to pay over 10 percent of their current valuation for Optimer.

Optimer spokesman David Walsey was unavailable for comment.

Cubist spokeswoman Julie DiCarlo said the company did not comment on speculation or rumors related to mergers and acquisitions. GSK declined to comment.

Dificid, which treats adult patients who contract infectious diarrhea in hospitals, accounted for $62.4 million in sales in 2012. The company is expected to generate sales of $310 million from the drug by 2017, according Thomson Reuters data.

Optimer is also testing to see if the drug can prevent diarrhea in patients under 18 years and whether it can treat it in patients undergoing bone marrow transplants.

(Editing by Sreejiraj Eluvangal)

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Glaxo Expects a Shot of Growth in 2013: CEO

Witty's predicting mid-single-digit declines in 2013, with that already factored into Glaxo's forecast for earnings per share growth of 3 to 4 percent.

Glaxo is also accelerating its "change program" to cut costs. "There are really two major areas of focus of this change program," the CEO said. "One is to make sure we right size our European pharmaceutical business in response to the pricing pressure we've seen from European governments."

The other, Witty said, is to change the company's technology platforms to reduce manufacturing costs, improve the the carbon footprint, cut inventories, and improve cycle time.

The drug company's product pipeline is also filling up, with six new products under regulatory review. Glaxo expects to launch around 15 new products globally over the next three years, according to the company's earnings report. It is also aiming to improve its research and development returns to around 14 percent over the long term.

(Read More: Drug Pipelines Begin to Fill for Big Pharma)

Glaxo is considering selling its sports drinks business as well, but told CNBC that it has no plans to follow some rivals like Pfizer and transform into a less-diversified company. Last week, Pfizer's animal health subsidiary Zoetis raised $2.2 billion in its initial public offering.

Witty said there are strong synergies binding Glaxo's three key divisions — pharmaceuticals, vaccines, and consumer health.

The company's emerging market pharma and consumer business are also strong, Witty said, and now account for about 40 percent of the entire group.

"We are a big believer in bound together synergistic businesses," the CEO said, "We are against diversification for the sake of it."

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