Allergan Buys Liver Drug Maker Tobira, Sending Biotech Stocks Up

  • Premium of at least 498 percent over Tobira’s Monday close
  • Other liver drug stocks soar: Intercept, Galectin, Conatus

Allergan to Buy Tobria in Deal Nearing $1.7 Billion

Allergan Plc’s agreement to buy Tobira Therapeutics Inc. for as much as $1.7 billion sent biotech stocks soaring Tuesday, as investors bet that buyers will emerge for other companies developing experimental treatments for a liver disease known as NASH.

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