|M&A Deals Sparks Healthcare Sector: Lincare Holdings, Amylin Pharmaceuticals, Ampio|
|By Staff and Wire Reports|
|Monday, 02 July 2012 12:26|
Also, in the merger & acquisition news, Brightpoint, Inc.(NASDAQ:CELL) agreed to be acquired by Ingram Micro Inc. in exchange of $9 per share in cash. The transaction valued the company at about $840 million, including estimated net debt of $190 million on June 30. Post deal, Ingram projecting to boost its EPS by 18 cents in 2013 and 35 cents in 2014, excluding one-time charges and integration costs.Shares of CELL soared over 63% to $8.83.
Amylin Pharmaceuticals, Inc.(NASDAQ:AMLN) added 8.83% to $30.69 and made a new 52-week high of $30.75. This morning Bristol Myers Squibb Co.(NYSE:BMY) agreed to buy the company for $5.3 billion or $31 per share in cash.
Following an acquisition of Amylin, analyst at Piper Jaffray issued a positive note on various biotech stocks and stated those companies would be an acquisition target. BioMarin Pharmaceutical Inc.(NASDAQ:BMRN) climbed 1.47 (3.71%) to $41.05, Theravance Inc(NASDAQ:THRX) added 1.77 (7.94%) at $23.99, Affymax, Inc.(NASDAQ:AFFY) rose 0.19 (1.48%) to $13.07 and Rigel Pharmaceuticals, Inc.(NASDAQ:RIGL) surged 0.13 (1.40%) to $9.43.
Cytori Therapeutics Inc. (USA)(NASDAQ:CYTX) extended its uptrend and rose another 9.26% to $2.95. The stock has been showing solid buying since early July and went up all the way from $2.05 to $2.95 in about a month. In February, the stock had sharp selloff and lost about 50% in just one month.