On Wednesday, Perrigo Company Public Limited Company (NYSE:PRGO)’s shares gained 18.39%, and closed at $195, hitting new 52-week high of 215.73, after Mylan N.V. (NASDAQ:MYL) declared that Mylan has made a proposal to attain Perrigo Company plc (PRGO) in a cash-and-stock transaction that would create a diversified, global pharmaceutical leader with an unmatched commercial and operating platform and a unique, one-of-a-kind profile. The combination of these highly complementary businesses would produce a corporation with critical mass in specialty brands, generics, over-the-counter (OTC) and nutritional products; a powerful commercial platform with reach across all customer channels; an exceptional high-quality operating platform; and opportunities to generate improved growth and deliver noteworthy immediate and long-term value and benefits for shareholders and the other stakeholders of both companies.
Under the terms of the non-binding proposal, which was delivered to Perrigo’s Chairman on April 6, 2015, Perrigo shareholders would receive $205 in a combination of cash and Mylan stock for each Perrigo share, which represents a greater than 25% premium to the Perrigo trading price as of the close of business on Friday, April 3, 2015 (the last trading date preceding to the date of Mylan’s proposal), a greater than 29% premium to Perrigo’s sixty-day average share price and a greater than 28% premium to Perrigo’s ninety-day average share price.
At the end of Wednesday’s trade, Mylan N.V. (NASDAQ:MYL)’s shares climbed 14.76%, and closed at $68.36, hitting new 52-week high of $70.21.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide.
Perrigo Company Public Limited Company (NYSE:PRGO), through its auxiliaries, develops, manufactures, and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, nutritional products, and active pharmaceutical ingredients (API). Its Consumer Healthcare segment offers OTC pharmaceutical products in the areas of analgesics, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, and animal health products, in addition to in the areas of feminine hygiene, diabetes care, and dermatological care; and contract manufacturing services.
Advaxis, Inc. (NASDAQ:ADXS)’s shares jumped 17.61%, and settled at $18.10, hitting new 52-week high of $18.29, during the last trading session on Wednesday, after a clinical stage biotechnology corporation, and Merck (MRK), known as MSD outside the U.S. and Canada, declared that enrollment has initiated in the Phase 1/2 clinical trial evaluating the combination of ADXS-PSA (ADXS31-142), an investigational Lm-LLO immunotherapy, and KEYTRUDA(R) (pembrolizumab), the first anti-PD-1 (programmed death receptor-1) therapy approved in the United States, in patients with formerly treated, metastatic castration-resistant prostate cancer (mCRPC). The clinical trial, KEYNOTE-046, is the first-in-human study of Advaxis’s lead Lm-LLO immunotherapy candidate for prostate cancer. It is the second study initiated to evaluate the use of KEYTRUDA in the treatment of advanced prostate cancer.
ADXS-PSA and KEYTRUDA are members of a class of cancer treatments known as immuno-oncology therapies. Data from preclinical studies suggest that Advaxis Lm-LLO immunotherapies in combination with a PD-1 antibody may lead to an improved anti-tumor immune response. The results from KEYNOTE-046 will determine the future clinical development program for the combination.
Advaxis, Inc., a clinical stage biotechnology corporation, focuses on the discovery, development, and commercialization of Lm-LLO cancer immunotherapies in the United States. The Lm-LLO immunotherapy platform technology stimulates the immune system to induce antigen-specific anti-tumor immune responses involving innate and adaptive arms of the immune system by inhibiting the T-cells, tregs, and myeloid-derived suppressor cells, and MDSC to promote immunologic tolerance of cancer cells in the tumor.
China Mobile Games and Entertainment Group Limited (NASDAQ:CMGE), ended its Wednesday’s trading session with 13.11% gain, and closed at $21.48, as on March 26, the largest publisher and a leading developer of mobile games in China, stated its unaudited financial results for the fourth quarter and full year ended December 31, 2014.
Total net proceeds were RMB417.8 million (US$67.3 million) in the fourth quarter of 2014, an raise of 185.4% from RMB146.4 million from the same period last year and an raise of 16.8% from RMB357.6 million in the preceding quarter. The sequential and year-over-year raise was mainly due to the continued success of our self-developed and published games, counting the recent successes of Jue Zhan Sha Cheng (决战沙城) and Crisis Action (全民枪战), which have both driven an raise in the number of paying users and ARPU. The continued success of our social games has raised ARPU for social games by 2.4% to RMB47.0 in the fourth quarter of 2014 from RMB 45.9 in the third quarter of 2014. Meanwhile, our single-player games have also recognized an raise of 80.0% in paying users to 7.2 million in the fourth quarter of 2014 from 4.0 million in the third quarter of 2014.
Cost of proceeds was RMB171.7 million (US$27.7 million) in the fourth quarter of 2014, an raise of 218.0% from RMB54.0 million in the fourth quarter of 2013 and an raise of 36.7% from RMB125.6 million in the third quarter of 2014. The sequential raise was primarily due to an raise in amortization expenses for published games and licensed IPs. The year-over-year raise was mainly due to the raises in payments made to mobile carrier channels and proceed sharing to distribution channels as our overall proceed continued to grow, in addition to an raise in amortization expenses.
The Corporation’s overall gross margin was 58.9% during the fourth quarter of 2014, contrast with 63.1% in the fourth quarter of 2013 and 64.9% in the third quarter of 2014. Gross margin reduced quarter-over-quarter primarily as a result of the higher amortization expenses incurred on licensing fees for published games and licensed IPs. The year-over-year decrease was mainly due to an raise in payments made to mobile carrier channels and proceed sharing with distribution channels and the higher amortization expenses.
China Mobile Games and Entertainment Group Limited, through its auxiliaries, develops and publishes mobile games primarily in the People’s Republic of China. It provides social games and single-player games for mobiles.
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