- The stock price of Athenex (ATNX) went up over 49% during intraday trading today. This is why.
The stock price of Athenex (ATNX) went up over 49% during intraday trading today. Investors are responding positively to reports that India-based Intas Pharmaceuticals and Dr Reddy’s Laboratories are both in talks to buy out Athenex. The deal is reportedly valued somewhere between $200 million and $250 million for a controlling stake in the company.
The two Indian pharmacy companies are also reportedly competing against several healthcare-focused private equity funds based in the U.S. according to ET’s sources. Athenex reportedly hired Cowen to find a buyer.