AUPH - Aurinia Pharma drops after GlaxoSmithKline denies report on potential bid

Aurinia Pharmaceuticals (NASDAQ:AUPH) fell 1.3% after GlaxoSmithKline (NYSE:GSK) denied a Mail report from Sunday that the company was considering a bid for the company. A GSK spokeswoman told Reuters the report isn't true. Aurinia (AUPH) gained last week after speculation that several other pharma companies may be looking at the company after an original Bloomberg report last month that Bristol Myers may be interested in an AUPH bid. Cantor analyst Alethia Young last week said other companies besides BMY that could be interested in AUPH include Amgen (NASDAQ:AMGN), AbbVie (NYSE:ABBV), Johnson & Johnson (NYSE:JNJ) and Otsuka (OTCPK:OTSKF). Young said that Aurinia (AUPH) may be worth $45-$53/share in a possible sale.

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Aurinia Pharma drops after GlaxoSmithKline denies report on potential bid