— Teva Pharmaceuticals Inc. has added to its gains as its stock gained on Nascent Pharmaceuticals Corp. after the two companies announced a tentative merger.
Teva shares rose 1.8% to $15.35.
The Nascent shares rose 4.5%.
Nascent shares gained 1.2% to 74 cents.
Teva shares gained 4.4%.
Nascommercials Inc., the parent of Teva, also gained on Wednesday as it reported fourth-quarter revenue and earnings.
The combined company, which includes Teva’s existing drugs and products, is expected to have revenue of $6.6 billion, according to its website.
The Nasdaq composite index of drug companies surged 0.7% to 6,942.02.
The S&P 500 gained 0.6% to 2,984.65.
The Dow Jones industrial average rose 0.3% to 20,823.07.