As global markets plunge on major sell-offs, investors are still holding on to some of the stocks including the ones from the financial sector.[More...]
This is a very straightforward and essentially complimentary acquisition by Shionogi, based on the information available so far. Shionogi is a somewhat limited pharmaceutical company in that it is currently active in only six treatment areas[More...]
Operationally, ProLogis? (PLD) portfolio continues to perform well with stable occupancies and increasing rents. FFO (funds from operations) was $1.06 per share in 2Q08 versus $1.16 in 2Q07. The company reiterated its earlier full year 2008 FFO guidance r[More...]
Shionogi & Co., a major Japanese drugs manufacturer and US-based specialty pharmaceutical co. Sciele Pharma, Inc. (SCRX), announced on Monday a definitive agreement under which Shionogi will acquire Atlanta-based Sciele Pharma Inc. shares, in an all-cash deal valued at $1.42 billion.The acquisition on the part of Shionogi will be made through a wholly-owned US subsidiary for all the outstanding shares of Sciele’s common stock at a price of $31 per share. Shionogi will spend $1.1 billion and $325 million of capital required for the redemption of senior convertible notes. With this move the Japanese drug maker aims at expanding its marketing channel base in the U.S. and at the same time, accelerate the overseas marketing strategy for its pipeline of drug candidates which will lead the co. in a maximization of profits.Upon completion of the acquisition, Sciele will become an indirect wholly-owned subsidiary of Shionogi and will[More...]
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