The week begins with two big drugs deals. First, Britain's Shire (SHPG) is buying ViroPharma (VPHM). Both companies specialize in treatments for rare diseases. Pennsylvania-based ViroPharma has skyrocketed 26-percent on the news. That's because Shire is offering $50 a share, which is a 27% premium on Friday's closing price. Shire is also up, but by just about 3% on the announcement.
As for the other deal this morning, Novartis (NVS) is selling part of its diagnostics unit to Spain-based Grifols (GRFS) for $1.7-billion. Novartis has been looking to unload some of its units since a new CEO took over in August. The company is also trying to forge partnerships for some of its smaller businesses. Novartis goes into today's regular session up 21%. Grifols is up 17% in that time.
Amazon (AMZN) has a giant new plan: Sunday deliveries from, get this, the post office. Could this be a win-win for two entities which just keep losing money? Yahoo Finance Senior Columnist Mike Santoli has more inRead More »from Shire Buying ViroPharma; Apple’s Throwing Curves; Amazon to Offer Sunday Deliveries