Celgene Corporation (NASDAQ:CELG) lost 2.68% to $49.46. The company is offering $58 in cash and 0.2617 of a Celgene share for each Abraxis share, implying a price of $71.93 per Abraxis share based on June 29 stock prices. The deal represents a premium of 17 percent to Abraxis’ Tuesday close of $61.31 and is expected to close in the fourth quarter, and is expected to modestly hurt 2010 adjusted earnings of Celgene.Human Genome Sciences (NASDAQ:HGSI) shares are down 6.35% to $21.22 on over 1.01 million shares. So far this year, the stock is down over 31%. In the past 52 weeks, the stock is trading within the range of $2.25-$34.49.
The company is a commercially focused biopharmaceutical company. The Company has three products in late-stage clinical development: BENLYSTA for systemic lupus erythematosus (SLE), ZALBIN for chronic hepatitis C, and raxibacumab for inhalation anthrax.
Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) dropped 1.70% to $18.48. Today, the stock opened at $19.02 and lost momentum in the first hour of trade. So far, the market capitalization of the stock stands at $2.66 billion. The 52-week range of the stock is $11.01-$24.21.
Shares of Genzyme Corporation (NASDAQ:GENZ) is trading 1.62% lower to $49.95. So far, the market capitalization of the stock stands at $13.33 billion. The stock today opened at $50.51 and has been seeing some selling pressure thereon. The daily average volume of the stock is 3.82 million shares. The stock fell more than 6% in the last 5 trading sessions.
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