Shares in Convatec jumped to one-month highs on Tuesday after Swedish business daily Dagens Industri said several investors are considering an offer for the British medical device maker after the recent slump in its stock.
One of the interested parties is Swedish private equity firm EQT, according to the report, which cited anonymous sources.
The FTSE 250-listed shares were up 8.1 percent at 0857 GMT after hitting their highest since mid-February. They were top of the pan-European STOXX 600.
Turnover was high with 4.4 million shares changing hands in the first hour of trading, just shy of the long-term total daily average.
Convatec and EQT declined to comment.
The shares plummeted a month ago after the company launched a turnaround plan following disappointing annual results.
By Josephine Mason
Source: Reuters
A monkeypox outbreak is emerging in the U.S. and Europe, and at least one country is amping up countermeasure preparedness. Bavarian Nordic has secured a contract with an unnamed European country to supply its smallpox vaccine, called Imvanex in Europe, in response to the emergence of monkeypox cases, the Danish company said Thursday.
Moderna’s recent chief financial officer debacle—in which Jorge Gomez departed on his second day on the job—raised questions about the company’s hiring process given its rush to global biopharma prominence. The most obvious one: How was it possible for Gomez to be hired when he was under investigation by his previous employer, Dentsply Sirona of Charlotte, N.C.
Merck & Co. is plucking a cancer project from the branch of Chinese-based Kelun Pharmaceutical for up to $1.4 billion, but details from the New Jersey-based Big Pharma have been hard to come by. The deal, first disclosed Monday on the Shenzhen stock exchange, has Merck handing over $47 million in upfront cash in exchange for ex-China rights to a “macromolecular tumor project.”
