ARTICLE | Finance
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Why investors hosed HCV play Achillion after J&J deal
May 25, 2015 7:00 AM UTC
A blend of lofty investor expectations and dilution are the likely reasons why Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) lost value after partnering its HCV assets with Johnson & Johnson (NYSE:JNJ).
The rumor mill started up last Monday, when Achillion pulled out of an investor conference and shot up $1.46 (15%) to $11.03. After market on Tuesday, Achillion announced J&J licensed exclusive, worldwide rights to the biotech's HCV assets (see "You Better You Bet" page 13)...