Amid a wave of mergers and acquisitions in the biotech industry, Spectrum Pharmaceuticals is reportedly looking to be sold.
According to anonymous sources interviewed by Bloomberg, the small but profitable oncology and hematology company is working with a financial advisor to potentially position itself for an acquisition.
Spectrum, which has six products on the market and several in development, has reached a market value of about $2 billion in the last few years. For just this year, the company is expected to rake in between $95 million and $115 million in sales. Shares for the company have also tripled over the last two years.
Read the full Bloomberg report.