GE Sells Coveted BioPharma Unit to Pay Down $21 Billion in Crippling Debt

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General Electric today shocked the stock market with news that ended up pushing its share price considerably higher. It’s selling its BioPharma unit for $21.4 billion to pay down its crippling debt. GE investors applauded the company for taking its leverage ratio down. They sent the stock price higher by as much as 17% before the opening bell, though the company pared those gains during morning...