Hepatitis C Makers Mostly Higher on Gilead/Pharmasset M&A (IDIX, INHX, VRTX)
The deal between Gilead and Phamasset is driving other hepatitis C developers higher this morning. Whether the 90% or so premium is a true read on just how bad this is up to you but here is what we are seeing:…
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The deal between Gilead and Phamasset is driving other hepatitis C developers higher this morning. Whether the 90% or so premium is a true read on just how bad this is up to you but here is what we are seeing:
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is up 5% at $7.79 versus a prior 52-week range of $2.67 to $7.72.
Inhibitex, Inc. (NASDAQ: INHX) is up 28% at $11.50 pre-market versus a prior 52-week range of $2.00 to $10.60.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) was higher early on but shares are now indicated down marginally at $28.24 versus a $28.29 close on Friday. Vertex has been riddled with problems this year.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
