During Friday’s Morning trade, Shares of Bristol-Myers Squibb Co (NYSE:BMY), lost -1.43% to $68.28.
Bristol-Myers Squibb Company, declared that it has reached two individual agreements with ViiV Healthcare, a global HIV company, to divest its pipeline of investigational HIV medicines comprising of a number of programs at different stages of discovery, preclinical and clinical development. Under these agreements, ViiV will pay to Bristol-Myers Squibb upfront payments totaling $350 million with potential development and regulatory milestone payments of up to $518 million for the clinical assets and up to $587 million for the discovery and pre-clinical programs. Once products are approved and commercialized, ViiV Healthcare will pay tiered royalties. Additionally, ViiV Healthcare will pay sales-based milestone payments of up to $750 million for each of the clinical assets and up to $700 million for each of the discovery and pre-clinical programs. Completion of the divestiture is predictable during the first half of 2016, subject to customary closing conditions, counting clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
These transactions are consistent with the evolution of Bristol-Myers Squibb’s planned focus, counting the decision to discontinue its discovery efforts in virology declared in June.
“Bristol-Myers Squibb has been committed to the HIV community for almost three decades, contributing significantly to the science and to the transformation in the treatment of this disease,” said Francis Cuss, MB BChir, FRCP, chief scientific officer, Bristol-Myers Squibb. “Given the remaining unmet medical needs in HIV, Bristol-Myers Squibb continued its discovery of novel treatment approaches and the agreements with ViiV Healthcare now put the development of these potentially first-in-class compounds into the hands of a global specialist company exclusively dedicated to finding new medicines for people living with HIV.”
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 Noble Energy, Inc. (NYSE: NBL), declined -0.35% to $31.15, during its current trading session.
Earlier recently, Noble Energy, was notified that the Government of Israel acted to implement the Natural Gas Framework through execution of Section 52 of the Restrictive Trade Practices Act. Execution of Section 52 resolves and provides exemption from claims of the Anti-trust Authority with respect to the Leviathan Joint Venture partners’ acquisition of petroleum rights in the underlying permits.
The Natural Gas Framework establishes the regulatory certainty and stability necessary to proceed with development of both the Tamar expansion and Leviathan, while providing transparency for future domestic pricing and natural gas competition in Israel. The Natural Gas Framework also enables marketing of Leviathan gas to Israeli customers for the first time. The development of Leviathan will substantially expand Noble Energy’s capacity to deliver gas to Israel and the region, in addition to provide a second source of domestic natural gas supply and redundancy of infrastructure for the people of Israel.
Noble Energy has continued to take steps to move forward with development of Leviathan and the Tamar expansion by advancing technical work and negotiating gas sales agreements. In addition, the Company is updating and finalizing capital investment requirements. These activities will enable the Company to conclude external financing agreements required to reach final investment decisions (FIDs). FID for each project is presently estimated to be taken before the end of 2016.
Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, and production of crude oil, natural gas, and natural gas liquids worldwide. Its principal projects are located in onshore DJ Basin and Marcellus Shale, the United States; the deepwater Gulf of Mexico; offshore West Africa; and offshore Eastern Mediterranean.
Finally, Turquoise Hill Resources Ltd (NYSE:TRQ), gained 0.64%, and is now trading at $2.35.
Turquoise Hill Resources, declared that Oyu Tolgoi LLC (Oyu Tolgoi) has signed a $4.4 billion project finance facility, one of the largest in the mining industry. The facility is being offered by a syndicate of international financial institutions and export credit agencies representing the governments of Canada, the United States and Australia, together with 15 commercial banks. All figures are in US dollars.
Jeff Tygesen, Turquoise Hill’s Chief Executive Officer, said, “The signing of project finance is an unprecedented milestone for Turquoise Hill and Oyu Tolgoi in addition to a historic vote of confidence in both the project and Mongolia. We look forward to working with the Mongolian Government and Rio Tinto to complete the remaining steps leading to the restart of underground development.”
Turquoise Hill Resources Ltd., together with its auxiliaries, operates as a mining company. Its principal material mineral resource property is the Oyu Tolgoi copper-gold mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd. in August 2012.
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.