On Monday, Shares of Pfizer Inc. (NYSE:PFE), lost -0.18% to $33.96.
AM‐Pharma B.V., a privately held Dutch biopharmaceutical company focused on the development of recombinant human Alkaline Phosphatase (recAP) for inflammatory diseases, and Pfizer, declared that Pfizer has attained a minority equity interest in AM-Pharma and secured an exclusive option to acquire the remaining equity in the company. The option becomes exercisable upon completion of a Phase II trial of recAP in the treatment of Acute Kidney Injury (AKI) related to sepsis. There are no drugs presently approved for this condition and the only treatment option is dialysis and supportive care. Results from the current Phase II trial for recAP are predictable in the second half of 2016. Under the terms of the agreement, Pfizer has made an upfront payment of $87.5 million for the minority equity interest and exclusive option, with additional potential payments of up to $512.5 million upon option exercise and potential launch of any product that may result from this agreement. Other terms of the transaction were not revealed.
Ropes & Gray LLP and De Brauw Blackstone Westbroek N.V. acted as legal advisors to Pfizer, and Dechert LLP and Clifford Chance LLP acted as legal advisors to AM-Pharma.
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. The company operates through Global Innovative Pharmaceutical (GIP); Global Vaccines, Oncology and Consumer Healthcare (VOC); and Global Established Pharmaceutical (GEP) segments.
Shares of JetBlue Airways Corporation (NASDAQ:JBLU), inclined 0.32% to $21.83, during its last trading session.
New York Governor Andrew Cuomo joined with JetBlue Airways Corporation, New York’s Hometown Airline™, and its charter partner, Cuba Travel Services, on May 5, to declare a new flight from New York to Havana, Cuba. The milestone makes JetBlue the first major carrier to declare a new flight to Cuba from New York since travel restrictions were recently eased.
The expanded charter service comes on the heels of Governor Cuomo’s trade mission to Cuba, where the Governor, joined by JetBlue CEO Robin Hayes and other New York business leaders, led a dialogue to connect New York businesses to new opportunities in Cuba.
Cuba Travel Services is offering the flight, operated by JetBlue, on Fridays from New York’s John F. Kennedy International Airport (JFK) to Havana’s José Martí International Airport (HAV) starting July 3, 2015. Travelers should make arrangements directly with Cuba Travel Services.
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
At the end of Monday’s trade, Shares of SunEdison, Inc. (NYSE:SUNE), gained 0.95% to $28.75, hitting its highest level.
SunEdison, declared that it intends to offer, subject to market and other conditions, $375 million aggregate principal amount of convertible senior notes due 2023 and $375 million aggregate principal amount of convertible senior notes due 2025 in a private placement. The notes will be offered by the initial purchasers only to qualified institutional buyers following Rule 144A of the Securities Act of 1933, as amended. The Company also intends to grant to the initial purchasers a 30-day option to purchase up to an additional $75 million aggregate principal amount of the 2023 notes and up to an additional $75 million aggregate principal amount of the 2025 notes, on the same terms and conditions.
The Company intends to use the net proceeds from this offering to (i) fund M&A to enhance size and value of future emerging markets vehicle, (ii) create a warehouse facility to acquire and hold operating assets for future dropdowns, (iii) fund the cost of the capped call transactions described below, (iv) optimize materials business, (v) retire indebtedness and (vi) for other general corporate purposes.
SunEdison, Inc. develops, manufactures, and sells silicon wafers to the semiconductor industry. The company operates through three segments: Solar Energy, TerraForm Power, and Semiconductor Materials. The Solar Energy segment provides solar energy services that integrate the design, installation, financing, monitoring, operations, and maintenance portions of the downstream solar market. It also manufactures polysilicon, silicon wafers, and solar modules.
Finally, Caterpillar Inc. (NYSE:CAT), ended its last trade with 1.67% gain, and closed at $88.77, after the company was upgraded by analysts at Robert W. Baird to “outperform” from “neutral” citing a potential bottom in commodity prices.
The firm also raised its price target to $101 from $80, saying the worst may be over for the commodity deflation cycle.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The company’s Construction Industries segment offers backhoe, small wheel, skid steer, multi-terrain, compact track, medium and compact wheel, and track-type loaders; mini, wheel, and track excavators; track-type tractors; and select work tools, motor graders, telehandlers, soil compactors, and pipelayers, in addition to its related parts for the heavy and general construction, rental, mining and quarry, and aggregates markets.
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