Tobira Therapeautics is up over 700% after Allergan agreed to purchase the biopharmaceutical company in a deal worth $1.7 billion. TheStreet’s Jim Cramer said that Allergan looks like it paid too much for Tobira unless CEO Brent Saunders can prove that he knows something about the company that other market participants do not. Allergan agreed to pay $28.35 a share upfront, in addition to payment for certain milestones. The deal is expected to close by the end of the year.
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