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Fly News Breaks for May 31, 2016
CPXX, JAZZ
May 31, 2016 | 11:55 EDT
UBS analyst Marc Goodman said he likes the risk/reward of Jazz Pharmaceuticals' (JAZZ) deal to buy Celator (CPXX) for $1.5B, noting that its fits Jazz's strategy and adds a late-stage "mostly de-risked" asset in Vyxeos along two additional products and a platform technology. The analyst, who expects the deal to be positive to the stock as investors get more comfortable with Celator, keeps a Buy rating and $168 price target on Jazz shares.
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