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Fly News Breaks for January 13, 2020
AKRX, PRGO
Jan 13, 2020 | 12:08 EDT
Cantor Fitzgerald analyst Louise Chen said that a news articles, which she attributed to Street Account, stated that Perrigo (PRGO) may be interested in acquiring Akorn (AKRX). However, after she had a chance to speak to investor relations at Perrigo she said that she thinks "based on what the company has factually put out there in terms of its M&A strategy" that this deal would not make sense. She noted that Perrigo has been interested in divesting its generics business and bringing on another mostly generics asset would further delay its intended strategy. Chen has an Overweight rating on Perrigo shares. The Fly notes that a report in Okdiario was cited by its trading contacts as the source of the Perrigo for Akorn talks rumor.
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