Why Roche (RHHBY) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of Roche Holding (RHHBY) are up 1.38% to $37.47 on heavy trading volume after CEO Severin Schwan told Reuters that the company's decision to buy U.S. biotech company InterMune (ITMN)  for $8.3 billion last month was "exceptional" and not a sign of more ambitious plans for major acquisitions.

Damping down expectations that Roche could embark on a series of such multibillion-dollar deals to bolster its presence in the treatment of rare diseases, Schwan said there was no change in the company's M&A strategy or its likely pace of deal-making, Reuters said.

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