International Biotechnology Trust PLC - London-based investment trust managed by SV Health Managers LLP - Notes it has stake in Biohaven Pharmaceutical Holding Co Ltd, a pharmaceutical firm which Pfizer Inc has agreed to acquire for USD11.6 billion. Biohaven is International Biotechnology's seventh-largest holding, representing 4.1% of its net asset value as of March 31. International Biotechnology co-manager Ailsa Craig says deal represents sign "Covid cash" is being put to use on M&A in pharmaceutical sector. The trust notes Biohaven is not a constituent of its benchmark Nasdaq Biotech Index. Biohaven is listed on the New York Stock Exchange.
Current stock price: 588.00 pence, up 2.3% on Tuesday in London
12-month change: down 15%
By Eric Cunha; ericcunha@alliancenews.com
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Int.biotech. (IBT)