M&A Moves Down the Food Chain: Otsuka to Buy Astex for ~$900M
Astex Pharmaceuticals (ASTX $8.22) has been on our focus list since 12/27/11 at $1.63 and today the stock is up 23% on buy-out news as Otsuka seeks cancer drug pipeline. Coming soon, a comparison of mid-cap biopharma stocks.
Astex (ASTX) is the 7th Company from our Focus List that has been acquired at a premium from our listing.
Green Screen in Life Science Stocks as Money Looks to the Future
Our index of 50 emerging mid-cap biopharma stocks is up over 2% today and major ETFs are up 1.4% ( FBT,IBB,XBI) as rally resumes in biotechnology.
Notable 2% movers among Rayno Life Science Focus stocks: Abaxis (ABAX), Astex (ASTX), Biogen (BIIB),Genomic Health (GHDX), ImmunoGen (IMGN),NeoGen (NEOG), Regeneron (REGN) and Seattle Genetics (SGEN).
IBB briefly broke previous high today at $201.75