Nektar shares rise on Pfizer deal
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From Times Wire Services
Shares of Nektar Therapeutics rose after Pfizer Inc. agreed to pay $135 million for the Exubera inhaled-insulin treatment and said it would help Nektar sell the therapy for at least two more months.
Pfizer said Oct. 18 that it would stop selling the drug and return the rights back to Nektar. Pfizer, based in New York, said in a regulatory filing it would help San Carlos, Calif.-based Nektar find a new partner for the drug.
Nektar gained 32 cents, or 5.5%, to $6.12.
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