On Wednesday, Smith & Nephew plc (ADR) (NYSE:SNN)’s shares declined -0.26% to $34.83.
Smith & Nephew plc (ADR) (SNN) the global medical technology business, recently declared a contract to acquire the Zimmer® Unicompartmental High Flex Knee (ZUK) system in the US market. ZUK is a clinically proven uni knee replacement introduced globally in 2004. Smith & Nephew has purchased all existing inventory and certain intellectual property for the US market.
The transaction will close within three business days after the merger between Zimmer® and Biomet® has closed.
Smith & Nephew plc develops, manufactures, markets, and sells medical devices in the advanced surgical devices and advanced wound administration sectors worldwide. The company’s Advanced Surgical Devices segment offers orthopedic reconstruction products, counting hip and knee implants, in addition to ancillary products, such as bone cement and mixing systems used in cemented reconstruction joint surgery. It also provides trauma and extremities products compriseing of internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and sports medicine joint repair products for surgeons, counting an array of instruments, technologies, and implants necessary to perform minimally invasive surgery of the joints. In addition, this segment offers arthroscopy enabling technologies for healthcare providers, such as fluid administration equipment for surgical access, high definition cameras, digital image capture, scopes, light sources and monitors to assist with visualization inside the joints, radio frequency wands, electromechanical and mechanical blades, and hand instruments for removing damaged tissue; and gynecological instrumentation devices.
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX)’s shares dropped -10.81% to $6.93.
Progenics Pharmaceuticals, Inc. (PGNX) declared that Mark R. Baker, CEO, is planned to present at the Cantor Fitzgerald’s Inaugural Healthcare Conference on Wednesday, July 8, 2015, at 4:15 p.m. Eastern Time. The conference is being held at Le Parker Meridien Hotel located at 119 W. 56th Street, New York NY 10019.
Progenics Pharmaceuticals, Inc. develops medicines for oncology in the United States and internationally. The company’s primary clinical-stage product candidates comprise prostate specific membrane antigen (PSMA) antibody-drug conjugate, which has accomplished Phase II testing in chemotherapy-practiced patients and is ongoing second cohort in chemotherapy-naïve patients for the treatment of prostate cancer; 1404, a radio-labeled small molecule that has accomplished Phase II testing, in addition to acts as an imaging agent to diagnose and detect prostate cancer; and Azedra, a radiotherapeutic product candidate, which is in Phase IIb registrational trial under special protocol assessment for the treatment of pheochromocytoma and paraganglioma.
At the end of Wednesday’s trade, MeadWestvaco Corp. (NYSE:MWV)‘s shares dipped -0.78% to $48.87.
Rock-Tenn Company (RockTenn) (RKT) and MeadWestvaco Corporation (MWV) (MWV) recently declared that shareholders of RockTenn and stockholders of MWV overwhelmingly approved the projected combination of the two packaging companies into WestRock Company (WestRock) at their respective special meetings held earlier recently.
At the RockTenn special meeting, more than 97% of the shares voted “FOR” the proposal to approve the business combination agreement, representing about 80% of the total shares outstanding as of the record date. At the MWV special meeting, 98% of the shares voted “FOR” the proposal to approve the adoption of the business combination agreement, representing about 83% of the total shares outstanding as of the record date. RockTenn shareholders and MWV stockholders also approved the other proposals considered at their respective special meetings.
RockTenn and MWV have now received all necessary approvals and expect the transaction to close on July 1, 2015. The parties expect that WestRock will start “regular-way” trading, and RockTenn and MWV will be delisted from the NYSE on July 2, 2015.
MeadWestvaco Corporation provides packaging solutions to the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries worldwide. The companys Food & Beverage segment offers packaging materials and paperboards, and beverage packaging machinery, in addition to engages in the carton design and converting operations.
Flotek Industries Inc (NYSE:FTK), ended its Wednesday’s trading session with 10.23% gain, and closed at $12.40.
Flotek Industries Inc (FTK) declared that its Board of Directors had authorized a new share repurchase program allowing the Company to repurchase up to $50 million of the Company’s common stock. The Company’s Board of Directors had formerly authorized a share repurchase program under which the remaining authorized amount is about $8.0 million. The Company intends to complete the existing repurchase program before repurchasing shares under the new program. Under the new program, the Company’s common stock could be purchased through a combination of discretionary purchases on the open market or in privately negotiated transactions as permitted under Securities Exchange Act of 1934 Rule 10b-18. Attached hereto as Exhibit 99.1 and incorporated by reference herein is the press release announcing the approval of the new share repurchase program.
Flotek Industries, Inc. develops and supplies oilfield products, services, and equipment to the oil, gas, and mining industries in the United States and internationally. Its Energy Chemical Technologies segment designs, develops, manufactures, packages, and markets specialty chemicals used in oil and gas well drilling, cementing, completion, stimulation, and production. This segment also constructs and manages automated material handling facilities; and manages loading facilities and blending operations for oilfield services companies.
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