On Tuesday, Shares of WPX Energy, Inc. (NYSE:WPX), gained 6.38% to $11.83.
WPX Energy, declared that it has commenced concurrent public offerings of $1.2 billion aggregate principal amount of senior unsecured notes, 27,000,000 shares of its common stock and $300 million aggregate liquidation preference of its series A mandatory convertible preferred stock.
These offerings are separate public offerings made by means of separate prospectus supplements under WPX Energy’s effective shelf registration statement and are not contingent on each other or upon the consummation of WPX Energy’s formerly declared acquisition of RKI Exploration & Production, LLC (“RKI”), although the notes are subject to a special mandatory redemption and the mandatory convertible preferred stock is subject to an optional redemption
Following the offerings for the common stock and mandatory convertible preferred stock, WPX Energy intends to grant the underwriters options to purchase from WPX Energy up to an additional 4,050,000 shares of common stock and up to an additional $45 million aggregate liquidation preference of mandatory convertible preferred stock.
WPX Energy, Inc., an independent natural gas and oil exploration and production company, engages in the exploitation and development of unconventional properties in the United States.
Shares of Mylan N.V. (NASDAQ:MYL), inclined 0.51% to $71.42, during its last trading session.
Mylan, declared the U.S. launch of Memantine Hydrochloride Tablets USP, 5 mg and 10 mg, which is the generic version of Forest’s Namenda® Tablets. 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 for the treatment of moderate to severe dementia of the Alzheimer’s type.
Memantine Hydrochloride Tablets USP, 5 mg and 10 mg, had U.S. sales of about $1.4 billion for the 12 months ending March 31, 2015, according to IMS Health. Mylan was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification and has therefore been granted 180 days of shared generic drug marketing exclusivity.
Presently, Mylan has 270 ANDAs pending FDA approval representing $107.2 billion in annual brand sales, according to IMS Health. Forty-seven of these pending ANDAs are potential first-to-file opportunities, representing $33.3 billion in annual brand sales, for the 12 months ending December 31, 2014, according to IMS Health.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
Finally, Valeant Pharmaceuticals International, Inc. (NYSE:VRX), ended its last trade with 0.68% gain, and closed at $236.75.
Eyegate Pharmaceuticals, Inc. (EYEG) a specialty pharmaceutical company that focuses on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye, recently declared that it has reached an exclusive, worldwide licensing agreement with a partner of Valeant Pharmaceuticals International, Inc. (VRX) (VRX) through which EyeGate has granted Valeant exclusive, worldwide commercial and manufacturing rights to its EyeGate(R) II Delivery System and EGP-437 combination product in the field of uveitis, in addition to a right of last negotiation to license the Product for other indications.
Under the agreement, EyeGate will receive an upfront cash payment, development-based milestone payments related to the completion of development for the indication of anterior uveitis and an approval-based milestone payment upon receipt of FDA approval of the Product. Additionally, the Company would receive royalties based on net sales, in addition to additional milestone payments based on the achievement of certain cumulative sales milestones. EyeGate shall be responsible for the development of the Product in the U.S. for the indication of anterior uveitis, together with the costs associated therewith. Valeant has the right to develop the Product in the field outside of the U.S. and has agreed to fund 100% of any costs associated therewith.
Valeant Pharmaceuticals International, Inc. develops, manufactures, and markets pharmaceuticals, over-the-counter products, and medical devices worldwide. The company offers Solodyn to treat red and pus-filled pimples of acne in patients, in addition to Ziana, Acanya, Atralin, Retin- A Micro, and ONEXTON gel; Wellbutrin XL for major depressive disorder in adults; Jublia for onychomycosis of the toenails; Xenazine for chorea; Targretin for Cutaneous T-Cell Lymphoma; Arestin, a subgingival sustained-release antibiotic; and PROVENGE for the treatment of prostate cancer.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
