On Wednesday, Shares of Celgene Corporation (NASDAQ:CELG), gained 6.95% to $131.39, hitting its highest level.
Celgene Corporation, and Receptos, Inc. (RCPT) declared the signing of a definitive agreement in which Celgene has agreed to acquire Receptos. Under the terms of the merger agreement, Celgene will pay $232.00 per share in cash, or a total of about $7.2 billion, net of cash attained.
The acquisition of Receptos significantly enhances Celgene’s Inflammation & Immunology (I&I) portfolio, further diversifies the Company’s revenue startning in 2019 and beyond, and builds upon Celgene’s growing expertise in inflammatory bowel disease (IBD). The transaction adds Ozanimod, a novel, potential best-in-class, oral, once-daily, selective sphingosine 1-phosphate 1 and 5 receptor modulator (S1P) to Celgene’s deep and diverse pipeline of potential disease-altering medicines and investigational compounds.
Based on clinical studies, Ozanimod demonstrated several areas of potential advantage over existing oral therapies for the treatment of ulcerative colitis (UC) and relapsing multiple sclerosis (RMS), counting its cardiac, hepatotoxicity and lymphocyte recovery profile. The phase III TRUE NORTH trial in UC is presently underway with data predictable in 2018. The phase III RADIANCE and SUNBEAM RMS trials are ongoing and data are predictable in the first half of 2017 to support a RMS approval in 2018. Additionally, Ozanimod is positioned to potentially become the first S1P receptor modulator to be approved for IBD.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally. It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID for the treatment of multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, in addition to acute myeloid leukemia (AML).
Shares of The Procter & Gamble Company (NYSE:PG), inclined 0.13% to $82.15, during its last trading session.
The Board of Directors of The Procter & Gamble Company, declared a quarterly dividend of $0.6629 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after August 17, 2015, to Common Stock shareholders of record at the close of business on July 24, 2015, and to Series A and Series B Preferred Stock shareholders of record at the start of business on July 24, 2015.
P&G has been paying a dividend for 125 successive years since its incorporation in 1890 and has raised its dividend for 59 successive years.
The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged goods. The company operates through five segments: Beauty; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.
Finally, Horsehead Holding Corp. (NASDAQ:ZINC), ended its last trade with -4.81% loss, and closed at $9.10.
Horsehead Holding, declared that its wholly owned direct and indirect auxiliaries, INMETCO, Horsehead Corporation and Horsehead Metal Products, LLC, reached a new secured revolving credit facility with Macquarie Bank Limited, maturing on May 15, 2017. The new facility replaces the maximum aggregate $80 million principal amount of two credit facilities to which these auxiliaries formerly were parties. It is in the same maximum principal amount, and is secured by the same collateral of such auxiliaries. However, the new credit facility accommodates a broader borrowing base than such previous credit facilities, adding about $30 million of additional availability.
Horsehead Holding Corp., together with its auxiliaries, produces and sells zinc and nickel-based products primarily in the United States and Canada. The company operates through three segments: Horsehead, Zochem, and INMETCO. The Horsehead segment processes electric arc furnace dust and other zinc-bearing material to produce and sell zinc and other metals.
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