you bet me to it...haaa
July 12, 2013
14:24 EDT CLDX, ALXN, BMRN, SGEN, GILD, RHHBY Biotech names rally after report of Alexion takeover interest
Shares of a number of biotech companies are moving higher after a Bloomberg report said Roche (RHHBY) is seeking financing for a takeover bid for Alexion (ALXN). WHAT'S NEW: According to a Bloomberg report that cites people with knowledge of the situation, Roche is seeking billions in financing for a potential takeover bid for Alexion. PRICE ACTION: Following the report, shares of Alexion jumped more than 18% and were halted at least twice for volatility. PEERS TO WATCH: Following the report, a number of biotech stocks, including Seattle Genetics (SGEN), up 3.5%, Celldex Therapeutics (CLDX), up 5%, and Gilead (GILD), up 1.5%, and BioMarin (BMRN), up 6%, advanced.