Here's Why Advanced Accelerator Application SA Rose 20% in October

Here's Why Advanced Accelerator Application SA Rose 20% in October

Shares of Advanced Accelerator Application SA (NASDAQ: AAAP), a manufacturer of tracers used for medical imaging, rose 19.8% in October according to data from S&P Global Market Intelligence. A tender offer from Swiss pharma giant, Novartis (NYSE: NVS) was the catalyst.

Advanced Accelerator Applications hasn't received much attention since spinning off from the European Organization for Nuclear Research (CERN) in 2002, but the company has quietly built a leadership position in the burgeoning niche for radioactive markers. Novartis offered $82 per American depositary share, which works out to $41 per ordinary share or a grand total around $3.9 billion for the company.

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Source: Fool.com