Why Shares in Viking Therapeutics Surged This Week
Shares in Viking Therapeutics (NASDAQ: VKTX) were up more than 16% in the week to Thursday at 1 pm. The move comes after the announcement of another acquisition of a small-cap biopharmaceutical company by a pharmaceutical giant. This time, it's Novo Nordisk paying $5.2 billion for Akero Therapeutics, a deal that follows hot on the heels of Pfizer's $7.3 billion deal to buy Metsera.
There are two key considerations. First, the deals suggest that the fervor for mergers and acquisitions in the industry is heating up, and as it does, the list of candidates gets smaller.
Second, both deals have a connection to the weight loss market, as Novo Nordisk is a leading player in the market, and Metsera's obesity drug candidates help fill a gap in Pfizer's pipeline.
Source Fool.com
Pfizer Inc. Stock
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