On Wednesday, Shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX), added 3.58% and closed at $24.59 in the last trading session. The last trading range of the stock ranges between $23.70 and $24.73. The company’s Market capitalization is $8.16 Billion with the total Outstanding Shares of 341.19 Million. Pharming Group N.V. (“Pharming” or “the Company”) (Euronext Amsterdam: PHARM) declares that at its Extraordinary General Meeting of shareholders (EGM), held recently, all proposals were unanimously approved.
This means that Pharming will now be able to execute on the financing necessary to acquire the North-American rights for its own therapy RUCONEST® from its US partner Valeant Pharmaceuticals International Inc. (NYSE:VRX/TSX:VRX) for an upfront payment of US$60 million and self funding future sales milestones of up to US$65 million (“The Transaction”).
As declared formerly, the Company is aiming to raise a total of US$80-100 million (€72-89 million) by means of a combination of a boost of the current Straight Debt and the issue of new Equity, either through a supported rights issue or possibly by means of a convertible bond at a premium to the current market price. The use of a convertible bond would facilitate even less new Equity to be issued now when the price is low, reducing the effects on shareholders from the financing for the Transaction.
Mylan NV (NASDAQ:MYL), jumped 0.16% and closed at $38.03 in the last trading session. The last trading range of the stock ranges between $37.82 and $38.46. The company’s Market capitalization is $20.34 Billion with the total Outstanding Shares of 534.91 Million. Mylan N.V. (NASDAQ, TASE: MYL) recently declared the U.S. launch of Metformin Hydrochloride Extended-release Tablets USP, 500 mg and 1000 mg, a generic version of Watson’s Fortamet®. Mylan received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for this product, which is indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus.
Metformin Hydrochloride Extended-release Tablets USP, 500 mg and 1000 mg, had U.S. sales of about $770.3 million for the 12 months ending July 31, 2016, according to IMS Health.
Presently, Mylan has 240 ANDAs pending FDA approval representing $98.2 billion in annual brand sales, according to IMS Health. Forty-three of these pending ANDAs are potential first-to-file opportunities, representing $34.4 billion in annual brand sales, for the 12 months ending June 30, 2016, according to IMS Health.
Discovery Communications Inc. (NASDAQ:DISCA), jumped 1.06% and closed at $27.69 in the last trading session. The last trading range of the stock ranges between $27.33 and $27.86. During the 52-week trading session the minimum price at which share price traded, registered at $23.66 and reached to max level of $31.80. Novelis, the world leader in aluminum rolling and recycling, and Discovery Education, the leading provider of digital content and professional development for K-12 classrooms, declared recently the launch of an all-new aluminum recycling education program, “Life of a Can – A Never Ending Story.” Designed to reinforce the importance of aluminum recycling and empower students to be environmental stewards, this new program offers standards-aligned digital learning tools for classrooms and families nationwide that explore the never-ending lifecycle of a recycled aluminum can and encourage classrooms to implement recycling programs of their own. The online tool also features national hockey league defenseman, Stanley Cup Champion, and “eco-athlete,” Andrew Ference, to drive home the importance of recycling and underscore our individual impact on the environment.
“Discovery Education is proud to partner with Novelis on this nationwide effort to engage students in the importance of our environment and the critical role they can each play to protect and preserve our planet,” said Lori McFarling, senior vice president, Discovery Education. “Life of a Can illuminates the core STEM applications utilized in the recycling process, and empowers educators with dynamic digital resources to inspire their students in the exploration of the earth’s natural resources.”