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Fly News Breaks for May 31, 2016
CPXX, JAZZ
May 31, 2016 | 08:26 EDT
Leerink analyst Jason Gerberry says Jazz Pharmaceuticals (JAZZ) announced it will acquire Celator Pharmaceuticals (CPXX) for $1.5B in cash consideration, helping to bolster Jazz's hematology-oncology franchise and achieve out-year revenue diversification once Celator's Vyxeos becomes commercially available in the second half of 2017. Gerberry reiterates an Outperform rating and $200 on Jazz's shares.
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