STOCK WATCH

THE pharmaceutical company Vernalis has put itself up for sale following a strategic review of its business.

In an update, the Aim-listed company also said that it did not think it would be ‘financially viable’ to keep running its US business.

Vernalis hopes to conclude the sale and the closure of its US arm by the end of September this year.

Investors reacted badly to the news and shares sank 8.3pc, or 0.36p, to 3.9p by the close of trading yesterday.