Tercica shares skyrocket following takeover bid

Moving fast, investors swiftly bid up the value of Tercica's stock yesterday afternoon after hearing that France's Ipsen would pay $9 a share to acquire all the stock in the company it didn't already own. That was more than $4 a share above what Tercica has been trading at. One unexpected mover was Vertex, which jumped after an analyst predicted that its closely watched hepatitis C drug telaprevir would be approved earlier than expected.

- read the AP story

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