Diabetes: Valeritas sets terms for $75m IPO
March 10, 2015 by Brad Perriello
Valeritas yesterday set the terms for its forthcoming initial public offering, saying it plans to put up 5 million shares at $14 to $16 each.
At the midpoint of the range, the IPO would fetch $75 million for Bridgewater, N.J.-based Valeritas, which plans to list on the NASDAQ exchange under the “VLRX” symbol. Read more
New Siemens healthcare unit to start in May
March 6, 2015 by MassDevice
Siemens will house its German healthcare operations in a standalone unit in the form of a GmbH legal entity May 1, 2 sources with knowledge of the matter said.
Siemens wants to give the investment-hungry unit independence within the group, creating standalone companies in major markets that will be capable of holding their own licences for products such imaging equipment independently of Siemens AG. Read more
Australia halts trading in GI Dynamics shares
March 5, 2015 by Brad Perriello
The Australian stock exchange today granted a request from GI Dynamics to halt trading in shares of its stock, pending a company announcement between now and March 9.
Lexington, Mass.-based GI Dynamics asked for the suspension pending “the release of a material announcement” about the business. Read more
Bayer aims to boost drugs sales, margins over next 3 years
March 11, 2015 by MassDevice
Bayer aims to increase sales of its main healthcare division by an annual 6% until 2017, with growth prospects for new drugs such as stroke prevention pill Xarelto boosting shares in Germany’s largest drugmaker.
The company, which is splitting off its plastics business, has seen sales of recently launched drugs such as eye treatment Eylea outweigh declines at its birth-control and multiple sclerosis drug businesses which face tough competition. Read more