While you were sleeping Drug deals bolster sentiment

Tue, 22 Apr 2014

By Margreet Dietz April 23 (BusinessDesk) – A raft of merger and acquisition activity in the global drug sector helped underpin equities on both sides of the Atlantic, as did better-than-expected earnings from companies including Netflix and Travelers. Shares of Allergan soared, last up 15.3 percent, after Canada’s Valeant Pharmaceuticals offered to buy the company in a deal worth some US$46 billion. Separately, Novartis, GlaxoSmithKline, and Eli Lilly also announced deals. “The Novartis-Glaxo deal and rumours about a potential AstraZeneca a...

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