Diamonds and Dogs
12/21/12Herbalife Ltd. (HLF)
Herbalife is on a crash diet today, down 19.08% at $27.27. The weight management and nutritional supplement company has lost about 40% of its value this week. It began the week trading over $44.00, but after Bill Ackman, of Pershing Square Capital Management, released news saying that Herbalife was a pyramid scheme, the stock has crashed. Ackman continues to go after Herbalife by creating a website that discusses his findings regarding the company. Herbalife said that on January 7th it plans to hold an analyst day to rebuttal these claims made by Ackman. Herbalife set a new 52-week low today.
Halozyme Therapeutics Inc. (HALO)
Halozyme is climbing higher today, up 27.36% at $7.03. The biopharmaceutical company saw its shares explode after news of a deal it reached with Pfizer. Halozyme said that it is licensing its technology platform to Pfizer to develop Pfizer's biologics with Halozyme's Enhanze technology. The companies technology enables drugs to be self-injected subcutaneously (under the skin), instead of given by hour-long IV infusions in a hospital or clinic setting. The deal consists of $8 million in cash up front, royalties on sales of products using the technology, and up to a whopping $507 million in future milestones. Halozyme is still well away from its 52-week high of $13.50.
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