FYI: Don’t be fooled by the sluggish performance within the health-care sector. A careful glance reveals plenty of bullish price action, starting with merger and acquisition activity, which is lifting the biotechnology group.
Pfizer just announced the $11.4 billion acquisition of Boulder, Colo.-based Array BioPharma. The buyout price represents a 62 percent premium over Array’s closing price on June 14. That premium further demonstrates the urgency felt in the industry to find next-generation therapies to treat difficult diseases like cancer.
Regards,
Ted
https://www.fa-mag.com/news/biotech-etfs-get-a-boost-from-big-mergers-45508.html?print
