In Brief: Immunex
Immunex: Special committee of board of directors rejects American Home Products' offer to buy out the remainder of the company at $14.50 per share. Immunex told AHP "the purchase of the shares of Immunex common stock held by minority shareholders at the price you have proposed would appear to create value for the shareholders of AHP at the expense of the minority shareholders of Immunex." The board committee noted its financial advisor, Alex. Brown, concluded that it "could not provide an opinion that the per-share value of the AHP proposal was fair from a financial point of view to the shareholders unaffiliated with AHP." AHP acquired a majority stake in Immunex when it purchased American Cyanamid in late 1994...
You may also be interested in...
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
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth