Protalix (PLX) surges 14.2% following an Israeli report that Pfizer has shown an interest in...

|About: Protalix BioTherapeutics,... (PLX)|By:, SA News Editor

Protalix (PLX) surges 14.2% following an Israeli report that Pfizer has shown an interest in buying the company after it hired Citigroup to start a sale process. Protalix is angling for $1B, double its market cap, although Pfizer doesn't want to pay that much, while an offer of $700-800M could be enough to sway Protalix's largest shareholders. The companies already partner for the marketing of Protalix's Elelyso drug for Gaucher disease.