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
As Novo Nordisk gears up to disrupt the obesity market with its newly approved weight-loss drug Wegovy, it is teaming with retail pharmacy giant CVS Health on a new education and nutrition coaching program for people taking anti-obesity meds.
The terms of the deal were undisclosed, but Atreca received $6 million from the Gates Foundation in 2012 to discover potential treatments for malaria, tuberculosis and HIV. The foundation has also given grant money to other biopharmas exploring malaria treatments, including Exscientia, which secured $4.2 million last year for such work.
At the start of the last decade, the IPO markets weren’t receptive to biotech companies. But by 2013, public investment was pouring into the industry, drawn by scientific advances and boosted by the newfound interest of a broader range of investors. Ever since, biotechs and their backers have ridden a multi-year boom. Keep track of them as they happen with this database.
