FTC will likely block Omnicare bid for PharMerica; Gilead Completes Tender Offer for All Outstanding Shares Of Pharmasset Print E-mail
By Staff and Wire Reports   
Thursday, 12 January 2012 19:43
Below is a look at some of the headlines for companies that made news in the healthcare sector on January 12, 2012.

In a surprise move, the FTC is expected to veto Omnicare’s (NYSE:OCR) $716M bid for rival PharMerica (NYSE:PMC) — a takeover that would have solidified Omnicare as top dog in the $13B market for pharmaceutical services.  The Obama administration is likely going to block a proposed $716 million offer by geriatric-pharmacy provider Omnicare for PharMerica, a source close to the situation said.

A decision from the FTC on the offer to purchase PharMerica, a Louisville-based provider of pharmacy services in hospitals, is expected by the end of next week, the source said.

“The FTC is not offering Omnicare any remedies,” the source said, so it is not trying to find a way to approve the deal.  Omnicare, based in nearby Covington, Ky., and PharMerica are the country’s two biggest companies that essentially act as pharmacies to patients in nursing homes and assisted-living centers.

Yesterday, Omnicare said it would not consummate its $15 a share offer until the FTC says it has reached the end of its investigation.  Omnicare’s shares closed yesterday at $33.56, and PharMerica at $14.97.


---


Gilead Sciences, Inc. (NASDAQ:GILD) announced the completion of the tender offer by its wholly owned subsidiary, Royal Merger Sub II Inc. (Merger Sub II), for all of the outstanding shares of common stock of Pharmasset, Inc. (NASDAQ:VRUS) at a price of $137 per share, net to the seller in cash (less any required withholding taxes and without interest).

As a result of the purchase of shares in the tender offer, Merger Sub II has sufficient voting power to approve the merger without the affirmative vote of any other Pharmasset stockholder. Following the merger, Pharmasset will become a wholly-owned subsidiary of Gilead, and each share of Pharmasset’s outstanding common stock will be cancelled and converted into the right to receive the same consideration, without interest, received by holders who tendered in the tender offer.



Also Thursday:



Aethlon Medical, Inc. (OTCBB: AEMD), the pioneer in developing selective therapeutic filtration devices to address infectious disease, cancer and other life-threatening conditions, announced today that it has established a Sepsis & Inflammation Scientific Advisory Board to provide guidance on the development of new therapeutics, including a device to reduce the incidence of sepsis in combat-injured soldiers being advanced under a contract from the Defense Advanced Research Projects Agency (DARPA).

Amarantus BioSciences, Inc. (OTCBB: AMBS), a biotechnology company developing MANF, a first-in-class disease–modifying therapeutic protein, today announced the company will be a featured guest on The Big Biz Radio Show on Friday, January 13, 2012 at 1:10 PM PDT.

Bacterin International Holdings, Inc. (NYSE Amex: BONE), a leader in the development of revolutionary bone graft material and antimicrobial coatings for medical applications, has been invited to present at the Noble Financial Capital Markets' 8th Annual Equity Conference.

LCA-Vision Inc. (NASDAQ: LCAV), a leading provider of laser vision correction services under the LasikPlus® brand, today announced that management will present at the Noble Financial Eighth Annual Equity Conferenceon Tuesday, January 17, 2012, at 3:00 p.m. Eastern time.

The Board of Directors of MiMedx Group, Inc. (OTCBB: MDXG), announced today that the Board of Directors fully supports the Company's Chairman and CEO, Parker H. "Pete" Petit, despite the action taken today by the Securities Exchange Commission ("SEC").

NeoStem's cell therapy manufacturing division, Progenitor Cell Therapy ("PCT"), a NeoStem, Inc. company (NYSE Amex: NBS) ("NeoStem" or the "Company"), announced today an agreement whereby PCT will provide contract manufacturing and regulatory services related to the development of Islet Sciences – PTM, which will be an injectable suspension of microencapsulated insulin-producing, pancreatic islet cells which are harvested from designated pathogen free pigs.

Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) today announced it became aware that an investor blog is preparing to issue a report regarding the Company's marketing and business practices.

PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, announced today that Eric I. Richman, President and Chief Executive Officer will present at the Noble Financial Capital Markets Eighth Annual Equity Conference on Tuesday, January 17, 2012 at 3:30 pm EST in the Volga Room/Room 2 at the Hard Rock Hotel, Hollywood Florida.



"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter