Medical device maker Zimmer Holdings Inc said it would purchase orthopedic products company Biomet Inc in a deal valued at about $13.35 billion to broaden its portfolio of products that treat bone and joint-related disorders.Zimmer shares jumped as much as 21.1 percent in premarket trade to $110.76.The acquisition is the latest in a flurry of deal-making and offers in the healthcare industry this week aimed at either gaining scale or specializing in certain disease areas.Among the deals, Novartis AG and GlaxoSmithKline Plc agreed to trade some $20 billion in assets, while Eli Lilly and Co agreed to buy Novartis's animal health business for $5.4 billion.
GlaxoSmithKline plc (GSK) is global healthcare group, which is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. Shares of GSK remained unchanged at $55.14. In the past year, the shares have traded as low as $48.30 and as high as $56.73. On average, 2466490 shares of GSK exchange hands on a given day and today's volume is recorded at 19607.
Novartis AG provides healthcare solutions. The Company is a multinational group of companies specializing in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. Shares of NVS remained unchanged at $86.17. In the past year, the shares have traded as low as $67.67 and as high as $86.97. On average, 1891460 shares of NVS exchange hands on a given day and today's volume is recorded at 2697.
Zimmer Holdings, Inc. (Zimmer) designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products. Shares of ZMH remained unchanged at $91.45. In the past year, the shares have traded as low as $74.55 and as high as $98.95. On average, 1187780 shares of ZMH exchange hands on a given day and today's volume is recorded at 304727.
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