Canada's Knight Therapeutics: Jumps on $281 mln deal to buy Biotoscana

Knight Therapeutics

21/10/2019 18:19

** Drug developer's shares  GUD.TO  rise 13.3% to C$8.51,
set for their best day ever, on $281 mln deal to buy Brazilian
pharmaceutical co Biotoscana Investments  GBIO33.SA  
    ** The takeover will create a pharmaceutical platform in
fast-growing markets in Latin America  urn:newsml:reuters.com:*:nL2N2760IG
    ** Mackie Research upgrades stock to "buy" from "hold",
raises PT to C$10.80 from C$8.20
    ** Brokerage says the deal enhances Knight's ability to
attract pan-America (excluding U.S.) in-licensing opportunities 
    ** Out of 8 brokerages, 7 rate the stock "buy" or higher, 1
"hold"; their median PT is C$9.25 -  Refinitiv data
    ** Stock up 10.6% YTD 

 (Reporting by Shanti S Nair in Bengaluru)
 ((ShantiS.Nair@thomsonreuters.com))