On Monday, Shares of Bristol-Myers Squibb Co (NYSE:BMY), gained 0.62% to $63.47.
R-PHARM US declared the acquisition of IXEMPRA (ixabepilone) from Bristol-Myers Squibb (BMY). IXEMPRA received marketing approval from the U.S. Food and Drug Administration in 2007 and in 18 other markets globally. IXEMPRA is indicated as monotherapy or in combination with capecitabine for the treatment of metastatic or locally advanced breast cancer in patients whose tumors are resistant or refractory to anthracyclines, taxanes, and capecitabine. With the acquisition, R-PHARM US has launched its U.S. commercial operations, and it is now responsible for all activities surrounding IXEMPRA’s manufacture, distribution, sales, and reimbursement. Financial terms were not revealed.
“IXEMPRA is an important therapy in treating metastatic or locally advanced breast cancer, and we are excited to position IXEMPRA as the cornerstone of our product portfolio,” stated Mark Pavao, President and Chief Executive Officer of R-PHARM US. “Advanced breast cancer patients have limited therapeutic options, and we are committed to ensuring physicians and patients have access to IXEMPRA. When we launch our sales force in October, IXEMPRA will have the support it needs in the physician’s office, and we will work to ensure IXEMPRA continues to have broad formulary and reimbursement coverage.”
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Shares of Oneok Partners LP (NYSE:OKS), declined -1.53% to $33.39, during its last trading session.
ONEOK, declared an offering to sell $500 million of senior notes. The notes will be issued under ONEOK’s existing shelf registration statement formerly filed with the U.S. Securities and Exchange Commission.
ONEOK anticipates to use the net proceeds from this offering and cash on hand to purchase additional common units from ONEOK Partners, L.P. (OKS) in a private placement. Funds managed by Kayne Anderson Capital Advisors, L.P. have agreed to purchase $100 million of common units from ONEOK Partners concurrently with ONEOK’s purchase. Following the common units purchases, ONEOK, which is the sole general partner of ONEOK Partners, will enhance its ownership percentage to 41.2 percent from 36.8 percent.
ONEOK Partners, L.P. engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates in three segments: Natural Gas Gathering and Processing; Natural Gas Liquids; and Natural Gas Pipelines.
Finally, Lear Corporation (NYSE:LEA), ended its last trade with 2.30% gain, and closed at $107.11.
Lear Corporation declared that it has attained intellectual property and technology from Autonet Mobile, a Santa Rosa, California based developer of software and devices for automotive applications. As part of the acquisition, Lear has hired key members of Autonet Mobile’s software and product development team.
Founded in 2005, Autonet Mobile’s technology directly connects on-board vehicle systems with cloud-based applications using proprietary data exchange capabilities via cellular networks.
The attained intellectual property and technology will complement Lear’s industry-leading wireless capabilities and provide growth opportunities for Lear’s Electrical business. Combined with Lear’s expertise in embedded vehicle electrical distribution systems and related electronics capabilities, Autonet Mobile’s technology will assist connect gateway modules with an array of features counting over-the-air software update capabilities.
“The acquisition of Autonet Mobile’s technology is consistent with our strategy of adding software capabilities that will complement our electrical distribution business,” said Matt Simoncini, Lear’s president and chief executive officer. “We continue to see excellent growth opportunities for our Electrical business as consumers demand greater connectivity features for their vehicles.”
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, electrical distribution systems, and related components primarily to automotive original equipment manufacturers worldwide. It operates through two segments, Seating and Electrical.
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