- Barrons.com•18 hours ago
Yesterday, biotech stocks--including BioMarin Pharmaceutical (BMRN), Tesaro (TSRO), Vertex Pharmaceuticals (VRTX) and Celgene (CELG)--got pounded after Hillary Clinton tweeted that there was "no justification" for EpiPen price hikes, echoing what happened back in September 2015. RBC's Michael Yee and team consider the implications: The SPDR S&P Biotech index was down -4.3% today (vs SPX down -0.5%) and was one of the sharpest daily moves down in 8 weeks (i.e., Brexit) - but importantly, is after an already large +25% move since the Brexit bottom. Importantly, the sharp pullback was due mostly in our view to investor fear of more political risk around drug pricing concerns and potential changes in the future after Hillary Clinton tweeted "EpiPens can be the difference between life and death.
- Nicole Sinclair•3 days ago
On Monday, Medivation (MDVN), which owns Xtandi, confirmed it was being acquired by Pfizer (PFE) for $14 billion. This comes just months after Sanofi (SNY) approached Medivation in a hostile deal, going public with its offer and beginning a process to replace the company’s board. Sanofi lost out on its bid to Pfizer, which was willing to pay up and fold Medivation into its oncology franchise.
- Investor's Business Daily•3 days ago
Pfizer's Medivation buyout agreement has put an M&A spotlight on BioMarin, Incyte, Vertex and other drug companies.
Vertex Pharmaceuticals Incorporated (VRTX)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
|Bid||84.19 x 100|
|Day's Range||95.21 - 98.87|
|52wk Range||75.90 - 136.97|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||-84.99|
|Avg Vol (3m)||1,395,782|
|Dividend & Yield||N/A (N/A)|