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Biogen Idec Inc (NASDAQ:BIIB) and Swedish Orphan Biovitrum received positive results from B-LONG, which is a clinical study evaluating a new long-lasting clotting factor candidate in individuals with hemophilia B. Hemophilia B is a rare disorder that prevents blood coagulation and is inherited. Top-line results from B-LONG, which is a global, multi-center, Phase 3 clinical study of the companies’ long-lasting recombinant Factor IX Fc fusion protein, indicated that rFIXFc was effective in controlling and preventing bleeding, routine prophylaxis, and perioperative management. Recombinant FIXFc was tolerated relatively well. Analyses of the B-LONG study continue as the companies believe that they will present more results at a future scientific meeting. Biogen Idec will submit a Biologics License Application to the U.S. Food and Drug Administration during 2013′s second half. Following guidelines published by the European Medicines Agency requiring a study in children less than 12 years old before filing, Biogen Idec and Sobi should file a Marketing Authorization Application with the EMA when the Kids B-LONG study is finished. The shares closed at $151.61, down $1.22 or 0.8% on the day. They have traded in a 52-week range of $87.72 to $156.57.
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Eloqua Inc. (NASDAQ:ELOQ) announced that Business Branding Network, or BBN, has become an Eloqua global strategic partner. As a partner to Eloqua, BBN intends to assist large, multi-national clients in maximizing their Eloqua investment via the application of the best industry practices to drive revenue growth. BBN is joining an exclusive group of partners, and it will be the first agency partner among this group. As resellers and consultative partners, the BBN network will assist Eloqua’s expansion of its global footprint. The shares closed at $18.76, up $0.79 or 4.4% on the day. They have traded in a 52-week range of $11.60 to $18.30.
Landec Corp. (NASDAQ:LNDC) reports a Q1 EPS of 10c, consensus 8c. The shares closed at $11.45, up $0.03 or 0.26% on the day. They have traded in a 52-week range of $4.85 to $11.62.
Grupo Aeroportuario (NYSE:PAC) announced that the extraordinary shareholderm Meeting that took place on September 25 approved a shareholders equity reimbursement for Ps. 870,000,000.00 amount, which is to be paid on October 3. The amount is equal to Ps. 1.639281 per share outstanding. The shares closed at $42.09, up $1.06 or 2.58% on the day. They have traded in a 52-week range of $31.53 to $42.49.
West Coast Bancorp (NASDAQ:WCBO) and Columbia Banking System (NASDAQ:COLB) together announced their agreement to combine their top two Pacific Northwest community bank franchises in a transaction with a value of about $506 million. Beneath this merger agreement’s terms West Coast shareholders have the ability to elect, subject to allocation procedures, if they wish to receive either Columbia common stock, cash, or a combination of both stock and cash for each share of West Coast stock. Aggregate consideration that has been offered for all of West Coast’s capital securities is a fixed amount of cash worth about $264.5 million and a fixed amount of Columbia common stock worth nearly 12.8 million shares. The value received by West Coast shareholders on a per share basis should fluctuate in relation to Columbia’s stock price. Considering Columbia’s closing stock price of $18.85 on September 25, West Coast shareholders would have gotten consideration worth $23.10 per share. West Coast shareholders will own about 24 percent of the combined company’s common stock. The merger will most likely be immediately accretive to Columbia’s earnings per share with an IRR in excess of 15 percent. Anticipated cost savings should be about 25 percent of West Coast’s operating expense, with 50 percent being realized in 2013 and 100 percent being realized thereafter. The transaction be finished during the Q1of 2013, after shareholder approval of each company and receipt of necessary regulatory approvals. The shares closed at $22.22, up $2.04 or 10.11% on the day. They have traded in a 52-week range of $13.57 to $20.99.
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