I know I thought about buying BIVV a few times. But always went towards other Pharmas (CELG, AMGN and BIIB). Too bad for me! Sanofi has placed a bid on BIVV that has caused their price to spike by 61% this morning.
Recall there are also rumors of CELG buying JUNO, so it seems that M&A is heating up in this space.
Hot M&A is one of my big themes for 2018... but I admittedly was hopeful that it would include some of my holdings!
Here is the story:
Sanofi nears $11.6B deal for Bioverativ
While not good for me, this will be good for my MFI Index. Recall I wrote yesterday that the index is already up 6% in 2018. A 60% pop in BIVV (all else being equal) will take that well north of 7% today (as there are 50 stocks in index).
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Juno being bought by CELG about 10 minutes after this post. They are up 27% in coffee-fueled trading (but pushing a double if you had bought a week ago before rumors started).
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