Pharma, Healthcare ETFs in Focus on M&A Talk, Earnings
April 18th, 2011 at 5:29am by John Spence
Exchange traded funds (ETFs) tracking pharmaceutical and healthcare stocks could see action Monday on news Johnson & Johnson (NYSE: JNJ) is on the prowl for acquisitions and earnings from Eli Lilly (NYSE: LLY).
Swiss device maker Synthes confirmed it is in merger negotiations with J&J, according to reports. Shares of U.K. medical technology company Smith & Nephew traded lower as takeover hopes suffered a blow after the bid for Synthes, MarketWatch reported.
Separately, Eli Lilly said its first-quarter profit fell from the year-earlier period.
Health Care SPDR
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