Tuesday's Health Winners & Losers
Biotech stocks were mostly higher Tuesday, as a buyout in the space and general positive sentiment outweighed several negative earnings reports.
CollaGenex (CGPI) surged after Galderma Pharma agreed to buy the company for $420 million. Galderma will pay $16.60 a share, a 30% premium to the stock's Monday closing price. The deal is expected to close before the end of the second quarter.
CollaGenex shares surged $3.53, or 28%, to $16.33. The stock was among the top movers of the Nasdaq biotechnology index, which was up 16.74, or 2.1%, to 806.83.
Also up was hospital owner
(THC), which posted a sharply
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