Jeff Smith noon, March 8
Amylin Stock Soars
Stock of biotech Amylin Pharmaceuticals is up 48.15% this morning (March 28) to $22.80 on a report of an old takeover offer. Bloomberg News reported this morning that giant pharmaceutical Bristol-Myers Squibb had offered to buy Amylin for $22 a share last month, and Amylin's board had rejected the offer. The market seems to assume that if Bristol thinks the stock is worth $22, other bidders may think so, too.