Gilead Sciences Okays Stock Split, Peregrine Restored to Nasdaq: Healthcare Biz Wrap
According to inside sources, Warburg Pincus has retained Goldman Sachs Group to shop the divestiture of its Bausch & Lomb eye-care company, who added that the former might seek a minimum of $10 billion for the unit. Others involves believe that the division might only bring about $8 billion. The owner acquired Bausch & Lomb in 2007 for $3.7 billion, subsequent to the firm’s difficulties with lawsuits, accounting errors, and the recall a contact lens solution. Thus far in December, Goldman has contacted GlaxoSmithKline (NYSE:GSK) and Sanofi-Aventis (NYSE:SNY), with others to be approached soon.
The board of directors of Gilead Sciences (NASDAQ:GILD) has okayed a two-for-one stock split of the firm’s outstanding common stock, to be accomplished through a stock dividend. Stockholders of record as of the close on January 7th will be entitled to a stock dividend of one additional share of common stock for every share of common stock they own. Calculated on the total number of shares of common stock outstanding as of November 30th, the stock split will raise the total number of shares of common stock outstanding from roughly 759,335,932 to 1,518,671,864, out of the 2.8 billion shares of common stock that are currently authorized.
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In a Tuesday press release, Peregrine Pharmaceuticals (NASDAQ:PPHM) said that it has received a letter from The NASDAQ Stock Market advising the firm that it has regained full compliance with the NASDAQ Capital Market’s minimum bid price continued listing requirement. The letter detailed that as of December 10th, Peregrine exhibited a closing bid price of its common stock above the $1 minimum requirement for at least ten consecutive trading days, thus regaining compliance with NASDAQ Marketplace Rule 5550A-2; consequently, the matter is closed.
Pharmacyclics (NASDAQ:PCYC) reported Tuesday in a release that Follow-up findings from an ongoing, open-label, Phase 2, single-agent evaluation suggesting that in patients with relapsed or refractory mantle cell lymphoma, both those who were bortezomib-naive and bortezomib-exposed, the investigational oral agent ibrutinib (PCI-32765) resulted in high and durable responses and was well tolerated overall. In the trial, 111 patients received ibrutinib and 110 of those were evaluable for efficacy.