Cardinal/R.P. Scherer merger
R. P. Scherer President George Fotiades and Senior VP-Corporate Planning & Development Thomas Stuart will receive retention bonuses of $500,000 and $300,000, respectively, after the merger with the wholesaler Cardinal is consummated, according to the companies' S-4 registration statement. R.P. Scherer shareholders will meet Aug. 6 to vote on the merger. Cardinal shareholders will meet July 28. The waiting period for the merger under the Hart-Scott-Rodino Act expired June 21. A one-month initial waiting period began in Germany June 17. The transaction values Scherer at about $2.4 bil. ("The Pink Sheet" May 25, p. 3)
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