On Monday, Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), lost 0.85% to $62.93.
Teva Pharmaceutical Industries Ltd., declared that it is commencing concurrent offerings totaling about $6.75 billion, comprising of about $3.375 billion of its American Depositary Shares (“ADSs”), each representing one Teva ordinary share, and about $3.375 billion of its Mandatory Convertible Preferred Shares. Final amounts of these securities will be determined based on market and other conditions. Teva intends to use the net proceeds from these offerings towards the cash portion of the purchase price for its formerly declared acquisition of Allergan plc’s worldwide generic pharmaceuticals business (“Actavis Generics”), and to pay related fees and expenses, for the pending acquisition of Rimsa or otherwise for general corporate purposes.
These offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on each other, or upon the consummation of the Actavis Generics or Rimsa acquisitions. If for any reason the acquisitions do not close, Teva anticipates to use the net proceeds from these offerings for general corporate purposes. Teva intends to grant the underwriters in each offering the option to purchase up to an additional 10% of the ADSs and up to an additional 10% of the Mandatory Convertible Preferred Shares, in each case, solely to cover overallotments, if any.
Barclays, BofA Merrill Lynch, Citigroup, Morgan Stanley, BNP Paribas, Credit Suisse, HSBC, Mizuho Securities, RBC Capital Markets and SMBC Nikko are acting as the joint book-running managers for the offerings.
Shares of Amgen, Inc.(NASDAQ:AMGN), declined -1.48% to $161.10, during its last trading session.
Amgen, declared the submission of a Biologics License Application (BLA) with the United States (U.S.) Food and Drug Administration (FDA) for ABP 501, a biosimilar candidate to Humira® (adalimumab). Amgen believes this submission is the first adalimumab biosimilar application presented to the FDA and represents Amgens first BLA submission using the 351(k) biosimilar pathway.
The submission of Amgens first biosimilar application to the FDA is an exciting milestone, expanding our inflammation portfolio to provide additional therapeutic options to patients, said Sean E. Harper, M.D., executive vice president of Research and Development at Amgen. Patients with chronic inflammatory conditions are faced with a noteworthyburden of disease requiring long-term treatment. Amgens branded biologic medicines and biosimilars are developed and manufactured according to the same high standards, and we are committed to delivering high-quality medicines to patients with serious inflammatory diseases.
ABP 501 is a biosimilar candidate to adalimumab, an anti-TNF-α monoclonal antibody, which is approved in many countries for the treatment of various inflammatory diseases.
Amgens BLA submission comprises analytical, clinical and pharmacokinetic data. Phase 3 comparative efficacy and safety studies were conducted in both moderate-to-severe plaque psoriasis and moderate-to-severe rheumatoid arthritis. The Phase 3 studies met their primary endpoints showing clinical equivalence to adalimumab. Safety and immunogenicity of ABP 501 were also comparable to adalimumab. Data to support the transition of adalimumab patients to ABP 501 are comprised in the submission.
Finally, Shares of Solar City Corp (NASDAQ:SCTY), ended its last trade with 3.72% loss, and closed at $28.76.
Solar City (SCTY), Americas #1 solar power provider, is expanding its Nevada presence with a new, 13,000-square foot regional training center in West Las Vegas. This flagship training center, Solar Citys fifth facility since entering the Silver State in 2013, will make Nevada the regional epicenter for Solar Citys workforce development. This facility is predictable to train as many as 4,000 workers a year with the skills they need to succeed in the energy workforce of the future.
Im proud to celebrate the opening of Solar Citys new training center, which will make Nevada the regional hub for training workers in the jobs of the 21st century, said Governor Brian Sandoval. Our homegrown solar industry has already created over 6,000 good Nevada jobs, and has tremendous potential to continue driving innovation, economic diversification, and opportunity in the Silver State.
Senator Aaron Ford, Democratic Leader of the Nevada Senate, Senator Ruben Kihuen, and other state and local officials joined Solar City leadership to cut the ribbon at the new facility recently.
