Alpharma said it is still exploring its strategic alternatives, including the possible sale of the company to King or another party for a price higher than the $37 a share.
King shares were down 12 cents, or 1.2%, at $9.76, while Alpharma shares added 67 cents, or 1.83%, at $37.25. Big Pharma player Eli Lilly (LLY Quote) was waiting for word from the FDA on its blood thinner prasugrel, which would be marketed under the name Effient in the U.S. The drug has already been delayed once. If approved, the drug has blockbuster potential, and it would compete with Plavix, which Sanofi-Aventis (SNY Quote) and Bristol-Myers Squibb (BMY Quote) market. Lilly's shares edged up 22 cents, or 0.47%, to $46.82. The Amex pharmaceutical index, of which King and Eli Lilly are components, was up 0.4%, at 299.26. The Nasdaq and Amex biotech indices fared slightly better, adding about 1.1% apiece.- Loading Comments...
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