Pharmaceutical and biotech mergers and acquisitions (M&A) is on track to hand us the best year for non-mega merger deals since 2010 - which is delivering juicy profits for anyone investing in drug stocks.
On Monday, Dublin-based pharmaceutical firm Shire (Nasdaq ADR: SHPG) announced that it will buy Pennsylvania-based ViroPharma (Nasdaq: VPHM) for $4.2 billion in cash. The $50 per share purchase price is a 27% premium to Viropharma's Friday close and a 64% premium to the price when sale rumors first emerged this summer.You, too, can profit from this "feeding frenzy"...
Amgen (Nasdaq: AMGN) Deal Shows How to Find Biotech's Best Investments
On Sunday, the world's largest independent biotechnology company, Amgen Inc. (Nasdaq: AMGN), bought Onyx Pharmaceuticals Inc. (Nasdaq: ONXX) in a $10.4 billion dollar deal - making it the fifth-largest biotech deal in history according to Standard & Poor's Capital IQ.
The Amgen deal with Onyx highlights where insiders - and investors - see the best investments in the biotech industry.