New York (HedgeCo.Net) Healthcare focused hedge fund manager Deerfield Management got a double-dose of good news on Monday as two of the stocks they are invested in announced deals over a billion dollars.

Auspex Pharmaceutical (Nasdaq: ASPX) announced that it will be acquired by Teva Pharmaceuticals (NYSE: TEVA) for $3.5 billion. That is a 40% premium to the closing price on Friday, March 27. According to public filings, Auspex is the largest holding for Deerfield with an investment of approximately $315 million.

Horizon Pharma (Nasdaq: HZNP) took the opposite path and announced that they are acquiring Hyperion Therapeutics (Nasdaq: HPTX) for $1.1 billion in cash. Investors liked the news as HZNP jumped over 18% on Monday.

Deerfield had a 14% stake in ASPX and a 6% stake in HZNP making Monday a huge day for the fund. Deerfield had approximately $6 billion in assets under management so these two holdings accounted for approximately 10% of the funds assets.