Novartis agreed to buy AveXis for $8.7B, representing an 88% premium for the company as of Friday's closing price (source: https://www.cnbc.com/2018/04/09/novartis-enters-deal-to-acquire-avexis-for-8-point-7-billion.html)
Overseas: Novo is up over a percent, Shire is trending up, and last week JP Morgan told investors that pharma is currently at its cheapest valuation in over ten years. (Source: https://www.cnbc.com/2018/04/02/pharmas-cheap-stocks-spell-investment-opportunity-for-traders-jp-morgan.html)
Looks like today may spell the end of the $XBI downdraft, and an optimal entry point into any of your potential biotech plays.
Submitted April 09, 2018 at 03:51AM by nathanj37 https://ift.tt/2uXpcA3
