Deals
Spectrum Pharma Is Weighing a Sale
- Biotech company working with Jefferies Group on potential sale
- U.S. firm attracting takeover interest from other drugmakers
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Spectrum Pharmaceuticals Inc., a U.S. biotech company focused on oncology and hematology, is exploring options including a sale of the business amid takeover interest from other drugmakers, people familiar with the matter said.
Spectrum is working with financial adviser Jefferies Group LLC on a potential sale of the business, according to the people, who asked not to be identified because the information is private. Shares of Spectrum have nearly tripled over the past two years, giving the company a market value of more than $2 billion. They rose as much as 15 percent in New York Tuesday and traded at $21.39 apiece at 9:38 a.m.