Drugmaker shares rise on swine-flu outbreak…Posted: April 27, 2009
The swine flu outbreak boosted shares of makers of of flu treatments, vaccines and tests Monday.
Though Wall Street remains concerned that swine flu could put a damper on any global economic recovery, several companies could benefit.
Gilead Sciences Inc., Roche, GlaxoSmithKline and other companies with a stake in flu treatments and detection will likely see revenue boosts if the swine flu outbreak continues to spread, several Wall Street analysts said.
Gilead shares rose $1.86, or 4.1 percent, to $47.66 in afternoon trading.
Relenza, an inhaled drug, is made by GlaxoSmithKline, which saw U.S.-traded shares rise $2.41, or 8.2 percent, to $31.75 in afternoon trading.
Novavax shares nearly doubled in price to $2.84 in afternoon trading.
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