On Tuesday, Shares of Merck & Co., Inc. (NYSE:MRK), gained 0.85% to $60.52.
As Merck KGaA nears completion of its purchase of St. Louis biotech company Sigma-Aldrich, the German pharmaceutical giant’s first-quarter profit took a hit from financing the acquisition.
Merck (stated first-quarter net income of nearly 282 million euros, or $314.1 million, down 13.4 percent from the same period last year. In a release, Merck officials attributed the decline directly to “financing costs incurred in advance of the planned acquisition of Sigma-Aldrich.” In a separate presentation to investors, company officials pointed to higher interest rates as a driver of borrowing costs for the acquisition.
At the same time, Merck’s net debt fell from 2.2 billion euros to 78 million euros, or $86.9 million, which Merck officials said was “evidence of the company’s strong internal financing capacity in the run-up to the planned acquisition of Sigma-Aldrich.”
Merck & Co., Inc. provides health care solutions worldwide. The company offer therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal infections, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, male pattern hair loss, and fertility diseases.
Shares of Eli Lilly and Co (NYSE:LLY), inclined 0.70% to $73.45, during its last trading session.
Eli Lilly and Company (LLY) and Sanford-Burnham Medical Research Institute, declared that they will collaborate to discover and develop immunological therapies. Lilly and Sanford-Burnham, a non-profit medical research institute, will investigate potential therapeutics using biotechnology approaches in targeting multiple immune checkpoint modulators for the treatment of immunological diseases such as lupus, Sjögren’s Syndrome, inflammatory bowel disease and other autoimmune disorders.
The comprehensive research partnership is driven by Lilly’s world-class biotechnology capabilities and expertise in immunology, and Sanford-Burnham’s deep expertise in understanding the fundamental cellular pathways regulating the immune system focusing on the immune checkpoint networks. This high degree of interaction will allow the organizations to flexibly and efficiently advance projects to clinical investigation. The research partnership will be co-chaired by Thomas F. Bumol, Ph.D., senior vice president, biotechnology and immunology research at Lilly, and Carl Ware, Ph.D., director, Infectious and Inflammatory Diseases Center at Sanford-Burnham.
Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. It operates in two segments, Human Pharmaceutical Products and Animal Health products. The company offers endocrinology products to treat diabetes; osteoporosis in postmenopausal women and men; human growth hormone deficiency and pediatric growth conditions; and testosterone deficiency.
At the end of Tuesday’s trade, Shares of Baidu Inc (ADR) (NASDAQ:BIDU), lost -0.95% to $193.14.
Baidu Inc. (BIDU), declared a multi-million dollar planned investment partnership with Baidu Inc. (BIDU), the leading Chinese language Internet search provider. The partnership brings together two cutting-edge technology companies that are re-defining the “search” and “discovery” categories across the world`s biggest markets. Together, Taboola and Baidu plan to bring discovery to the Chinese market, where mobile is the number one way people go online.
The investment from Baidu is a follow-on to the $117 million Series E round of financing declared by Taboola this past February, and represents another noteworthy vote of confidence in Taboola and the future of content discovery. Baidu ranks as the top website in China, and fourth most popular in the world (according to global traffic ranking firm Alexa), receiving tens of billions of search queries every day, about 75 percent of China`s combined PC and mobile search market share.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Finally, SLM Corp (NASDAQ:SLM), ended its last trade with 0.00% gain, and closed at $10.60.
Sallie Mae, declared that Chairman and Chief Executive Officer Raymond J. Quinlan will serve as closing keynote speaker at CTO Forum’s RETHINK Strategy: Planned Leadership of Technology and Innovation event at Harvard Business School recently at 1 p.m.
RETHINK Strategy is an executive education program offered by CTO Forum and Harvard Business School. Sessions are led by Harvard Business School faculty and Fortune 500 company leaders. The program aims at identifying, examining, and overcoming the challenges that senior technology and business executives face in fostering a culture of smart innovation, corporate renewal, and systemic growth in well-established organizations.
SLM Corporation, together with its auxiliaries, operates as a saving, planning, and paying for education company in the United States. The company offers private education loans to students and their families.
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