On Monday, CVS Health Corp (NYSE:CVS)’s shares declined -0.50% to $99.42.
CVS Health Corporation (CVS) declared plans to buy The Harvard Drug Group (“THDG”) for about $1.12 billion. The company anticipates to fund the acquisition through existing cash balance and new debt. The transaction is predictable to close in the starting of fiscal 2016.
Presently owned by Court Square Capital Partners, Livonia, MI-based THDG is a distributor of generic pharmaceuticals, over-the-counter (OTC) medicines and related products to retail, institutional and alternate care customers. The acquisition not only expands Cardinal Health’s product portfolio but also its existing telesales programs and capabilities.
Cardinal Health now anticipates fiscal 2016 adjusted EPS in the range of $4.75 to $5.05. The company assumes that the THDG transaction will close in the first quarter of fiscal 2016 and the formerly-declared Cordis acquisition will close in the U.S. and key non-U.S. countries toward the end of calendar 2016. Also, Cardinal Health anticipates to issue $1.5 billion of new debt pertaining to these acquisitions.
CVS Health Corporation, together with its auxiliaries, provides integrated pharmacy health care services in the United States. The company operates through Pharmacy Services and Retail Pharmacy segments. The Pharmacy Services segment offers pharmacy benefit administration services, such as plan design and administration, formulary administration, Medicare Part D services, mail order and specialty pharmacy services, retail pharmacy network administration services, prescription administration systems, clinical services, disease administration programs, and medical pharmacy administration services.
Juno Therapeutics Inc (NASDAQ:JUNO)’s shares dropped -4.20% to $65.49.
Juno Therapeutics Inc. (JUNO) reached a contract and Plan of Merger (the “Merger Agreement”) with X-Body, Inc. (“X-Body”), X Acquisition Corporation (“Merger Sub”), Brant Binder as representative of X-Body stockholders, and certain principal stockholders of X-Body. Following the Merger Agreement, Juno attained X-Body through a merger transaction in which Merger Sub, a wholly owned partner of Juno, merged with and into X-Body, with X-Body surviving the merger as a wholly owned partner of Juno (the “Transaction”). Juno and X-Body were formerly party to a research services and license agreement, which was reached effective as of April 10, 2014.
After giving effect to a working capital adjustment, Juno paid $19.5 million in cash and issued 439,265 shares of Juno’s common stock as the initial consideration for the Transaction. Juno also paid $1.9 million in cash at the closing to satisfy liabilities and transaction expenses at X-Body that were reflected in the working capital adjustment. 72,831 of the shares issued in the Transaction, which were issued to certain ongoing service providers, are subject to vesting during the three years following the closing. Juno also agreed to pay an additional $0.5 million in cash to ongoing employees over such three year period.
In addition, additional amounts are payable in cash following the closing upon the realization of specified milestones substantially as follows, with respect to products generated using the X-Body technology: $5.0 million per target upon the achievement, during a specified period, of a certain regulatory milestone for products that utilize a certain type of binding mechanism; up to $30.0 million upon the achievement, during a specified period, of regulatory and clinical milestones for the first product using another type of binding mechanism (any product using such type of binding mechanism, a “Type X Product”); $5.0 million per product upon the achievement, during a specified period, of a certain regulatory milestone for a certain number of subsequent Type X Products; $50.0 million upon the achievement, during a specified period, of a clinical milestone related to the first product with certain specified binding properties (a “Type Y Product”); and $20.0 million upon the achievement, during a specified period, of a clinical milestone related to the first product with certain other specified binding properties. If a Type X Product or a Type Y Product is commercialized, Juno can choose either to make a commercialization milestone payment for such a product or to pay a low single-digit royalty on net sales of such a product.
Juno Therapeutics, Inc., a biopharmaceutical company, engages in developing cell-based cancer immunotherapies. The company develops cell-based cancer immunotherapies based on its chimeric antigen receptor and T cell receptor technologies to genetically engineer T cells to recognize and kill cancer cells. Its clinical stage CD19 product candidates comprise JCAR015 that is in Phase I clinical trials for adult patients with relapsed/refractory B cell acute lymphoblastic leukemia (r/r ALL); JCAR017, which is in Phase I/II trials for pediatric patients with r/r ALL; and JCAR014 that is in Phase I/II trials to treat various B cell malignancies in patients relapsed or refractory to standard therapies.
At the end of Monday’s trade, Geron Corporation (NASDAQ:GERN)‘s shares surged 0.13% to $3.92.
Geron Corporation (GERN) held its 2015 Annual Meeting of Stockholders at the Westin San Francisco Airport, One Old Bayshore Highway, Millbrae, CA 94030, and via conference call, following notice duly given. Only stockholders of record as of the close of business on March 23, 2015 were entitled to vote at the Annual Meeting. As of March 23, 2015, the record date for the Annual Meeting, 157,845,799 shares of common stock of the Company were outstanding and entitled to vote at the Annual Meeting, of which 123,541,278 shares of common stock of the Company were represented, in person or by proxy, constituting a quorum. The final results of the stockholder vote on each proposal brought before the Annual Meeting were as follows:
(a) Proposal 1. Each of the two (2) named nominees to hold office as Class I members of the Board of Directors to serve for a three-year term expiring at the Company’s 2018 Annual Meeting of Stockholders was elected based upon the following votes:
Nominee Votes For Votes Withheld Broker Non-Votes John A. Scarlett, M.D. 51,492,805 1,383,090 70,665,383 Robert J. Spiegel, FACP, M.D. 51,768,134 1,107,761 70,665,383
(b) Proposal 2. The non-binding advisory vote on named executive officer compensation was approved based upon the following votes:
Votes For Votes Against Abstentions Broker Non-Votes 48,276,988 3,838,683 760,224 70,665,383
Geron Corporation, a clinical stage biopharmaceutical company, focuses on the development of telomerase inhibitor, imetelstat, for treating hematologic myeloid malignancies. It has partnership and license agreement with Janssen Biotech, Inc. to develop and commercialize imetelstat worldwide for indications in oncology, counting hematologic myeloid malignancies and other human therapeutic uses.
Trina Solar Limited (ADR) (NYSE:TSL), ended its Monday’s trading session with -2.20% loss, and closed at $12.46.
Trina Solar Limited (TSL) a global leader in photovoltaic (“PV”) modules, solutions, and services, is happy to declare that it offered Osaka Sangyo University (“OSU”) with its newly developed Interdigitated Back Contact (IBC) cells and modules for OSU’s Solar Car, the “OSU-Model-S.
The OSU-Model-S is fueled solely by solar power which is converted into electricity via 565 highly efficient solar cells, and has just finished its first test run in Shirahama Old Airport, Wakayama Prefecture, Japan. The IBC cells offered by Trina Solar have demonstrated efficiencies up to 24.4% in laboratory tests and 23.1% in pilot industrial production. The OSU-Model-S will compete in early August in the IFA Suzuka Solar Car Race, the largest international solar car race taking place in Japan.
Zhiguo Zhu, COO and President of Trina Solar Module Business Unit commented, “We are very happy that OSU has selected us to be its partner in such a prestigious competition, and this cooperation has broadened our outreach from solar power generation to technology and research applications. This marks a milestone for Trina Solar as we branch out our differentiated products to various projects beyond our existing portfolio. I believe our high-efficiency cutting-edge modules will assist OSU outperform the overwhelmingly strong competition from other different university teams and again demonstrate Trina Solar’s position as a technology leader with proven ability to continuously pursue excellence.
Trina Solar Limited operates as an integrated solar-power products manufacturer and solar system developer in the People’s Republic of China, Europe, the United States, and other Asia Pacific regions. The company designs, develops, manufactures, and sells photovoltaic (PV) modules comprising monocrystalline and multicrystalline PV modules ranging in various power outputs for use in residential, commercial, industrial, and other solar power generation systems.
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