Amarin (AMRN) stock bounded to a month high Thursday on a report that Dow Jones component Pfizer (PFE) could be interested in acquiring it. But Pfizer stock fell.
StreetInsider.com reported Thursday that Pfizer could put up a bid on Amarin. Amarin makes Vascepa, a treatment to help lower triglycerides in adults. Pfizer has a cardiovascular and metabolic diseases unit that focuses, in part, on heart failure and related problems.
In midday trading on the stock market today, Amarin shares jumped 16.6%, near 17.50. The stock flew as much as 19.2% in above-average volume. Pfizer stock dropped 2.4% to 42.30.
Deals in the biopharma space have kicked up over the last month. The biggest transaction could see Bristol-Myers Squibb (BMY) take over Celgene (CELG) for $74 billion. Also this week, Eli Lilly(LLY) said it would spend $8 billion to acquire Loxo Oncology (LOXO).
Earlier Thursday, analysts speculated that Biogen (BIIB) could also become acquisitive in 2019. Biogen has an estimated $17 billion to $18 billion to spend in a takeover, one analyst said.
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