Mega pharma deal boosts biotech shares, but pharma shares trade mixed

November 23, 2015 7:23 PM

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The biggest marriage in the drug industry’s history hasn’t provided the type of booster shot to shares of deal participants Pfizer and Allergan, nor has the merger provided a major lift to shares of other big pharma names. If there’s been any semblance of steroid-like reaction, it was been in biotech stocks, which were solidly in the black Monday.

Not even the announcement of a record-breaking deal valued at roughly $160 billion could push shares of American drug maker Pfizer (maker of Viagra) and Irish-based Allergan (maker of Botox) higher Monday. Pfizer’s (PFE) stock fell 85 cents, or 2.6%, to $31.33 Monday. And even though Pfizer is offer...

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