Here's Why Achillion Pharmaceuticals Is Soaring 19.5% Today
After Achillion Pharmaceuticals (NASDAQ: ACHN) priced its shares that Johnson & Johnson (NYSE: JNJ) is selling at $2.75 each, the company is rallying back 19.5% as of 3:15 p.m. EST.
Johnson & Johnson walked away from a licensing deal with Achillion Pharmaceuticals and its hepatitis C drug pipeline earlier this year, leading to speculation that J&J would unload the $225 million worth of Achillion Pharmaceuticals stock it acquired in 2015.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com
Achillion Pharmaceuticals Stock
€6.15
10.710%