Amgen, CVS, Celgene, Home Depot Achieve New 52-Week Highs
As the U.S. financial markets are gradually approaching annual highs, some companies are already winning at their highest prices in 52 weeks:
Amgen Inc. (NASDAQ:AMGN): Dako and Amgen will design a cancer drug candidate diagnostic test under a new development and collaboration agreement. “I am proud to announce that Dako and Amgen have succeeded in putting together a business model that supports the concurrent development of drug and diagnostics for a low incidence cancer — something that has been difficult to achieve in the industry until now,” says Lars Holmkvist, Dako’s chief executive officer, adding,”This new collaboration brings hope to cancer patients suffering from this rare form of cancer.” The shares closed at $65.67, up $1.47 or 2.29 percent. Their 52-week trading range has been $47.66 to $65.19.
CVS Corp. (NYSE:CVS): Health Net Life Insurance Company agreed to the sale of its Medicare stand-alone Prescription Drug Plan business to one of CVS Caremark’s (NYSE:CVS) subsidiaries for a cash payment of approximately $160 million. Health Net expects to net approximately $140 million in cash after transaction and other related costs. In addition to customary closing conditions and regulatory approvals, Centers for Medicare & Medicaid Services approval is needed. The deal should close second quarter of 2012. The shares closed at $41.95, up $0.16 or 0.38 percent. Their 52-week trading range has been $31.30 to $41.86.
Gilead Sciences (NASDAQ:GILD): Gilead (NASDAQ:GILD) received early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its cash tender offer for Pharmasset (NASDAQ:VRUS). The shares closed at $44.25, up $1.52 or 3.56 percent. Their 52-week trading range has been $34.45 to $43.49.
Home Depot (NYSE:HD): The shares closed at $43.53, up $0.3 or 0.69 percent. Their 52-week trading range has been $28.13 to $43.30.
Celgene Corp. (NASDAQ:CELG): The shares closed at $70.26, up $2.03 or 2.98 percent. Their 52-week trading range has been $48.92 to $69.26.
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