Tag Archives: jnj

Top 5 IBD 50 Drug Stocks Thriving Via Acquisitions

The recent flurry of deal-making in the drug sector has put the spotlight on other top-rated drugmakers that have grown with the help of savvy mergers and acquisitions. In just the past week, AbbVie (ABBV) agreed to buy Pharmacyclics (PCYC) for $21 billion, beating out Johnson & Johnson (JNJ), and Mallinckrodt (MNK) announced a $2.3 billion deal to acquire privately held Ikaria. The latest IBD 50 includes five drugmakers that are growing quickly

AbbVie Stock Slides On Pricey Pharmacyclics Deal

Big pharma AbbVie’s $21 billion deal to acquire hot biotech Pharmacyclics was met with widespread skepticism by AbbVie investors Thursday, sending AbbVie’s stock down 4% in afternoon trading. AbbVie (ABBV) announced the cash-and-stock acquisition late Wednesday after rumors had been swirling all afternoon that Novartis (NVS) and Johnson & Johnson (JNJ) were engaged in a bidding war for Pharmacyclics (PCYC). It surprised Wall Street that AbbVie

Biotech Pharmacyclics Spikes On Buyout Rumors

Pharmacyclics (PCYC) stock soared to an all-time high Wednesday on media reports that the biotech is considering selling itself to a big pharmaceuticals company. Pharmacyclics, whose only marketed product is the Imbruvica blood-cancer drug, has drawn interest from Johnson & Johnson (JNJ) and Novartis (NVS), according to a report from Bloomberg, which cited unidentified sources with “knowledge of the matter.” No representatives from any of those