Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

LILLY LINKS WITH SPHINX: $72 MIL. PROPOSED BUYOUT

Executive Summary

LILLY LINKS WITH SPHINX: $72 MIL. PROPOSED BUYOUT announced by the two companies March 8 would make Sphinx Pharmaceuticals a wholly-owned subsidiary of Lilly. A letter of intent signed by the two firms calls for Lilly to pay $6 per share for the 12 mil. outstanding shares of Sphinx stock, excluding the 680,000 shares bought by Lilly for $4 mil. in October 1991. The initial equity investment was part of a collaborative research agreement focused on developing protein kinase C regulators. The proposed purchase is subject to the signing of a definitive agreement and approval by Sphinx shareholders.

You may also be interested in...



Elan Meltdown May End R&D Joint Ventures As Funding Vehicle For Biotech

The Elan market meltdown is likely to shut off the joint venture route as one avenue for struggling biotech companies to obtain capital

Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

UsernamePublicRestriction

Register

PS024162

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel