BRIEFCASE AMGEN SIGNS DRUG DISTRIBUTION DEAL.Byline: - From staff and wire reports THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - Biotech leader Amgen Inc. has signed a multiyear agreement with US Oncology Inc. for distribution of three drugs, the companies announced Thursday. The agreement covers Aranesp, a new drug in the treatment for anemia, and Neulasta and Neupogen, both of which reduce the risk of chemotherapy-induced neutropenia Neutropenia Definition Neutropenia is an abnormally low level of neutrophils in the blood. Neutrophils are white blood cells (WBCs) produced in the bone marrow that ingest bacteria. . US Oncology Inc., headquartered in Houston, is a leading cancer-care services company. MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. announces public stock sale SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. - Metro-Goldwyn-Mayer Inc. announced Thursday that it has priced an underwritten public offering of nearly 10.6 million shares of its common stock that will result in gross proceeds of $174.1 million to MGM. Goldman, Sachs & Co. acted as the book-running lead manager for the offering, which is expected to close on Monday and is subject to the customary closing conditions. MGM has granted the underwriters an over-allotment option to purchase 1.6 million shares of common stock for an additional $26.1 million. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering will be used for operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. and for general corporate purposes, including debt reduction, as well as for potential unspecified acquisitions, the company reported. The offering is expected to increase the number of MGM shares held by unaffiliated investors. Reader's Digest proposal rejected NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - A major shareholder of Reader's Digest Association Inc. has rejected a proposal that would have given an investment fund greater voting power in the company, according to a regulatory filing. Wallace-Reader's Digest Funds, a philanthropic group that holds 50 percent of the voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of the company that publishes Reader's Digest, turned down an offer from Highfields Capital Management that would have given the Boston-based firm greater control of the company. Highfields Capital had offered to swap its passive holding in Reader's Digest Association, which equals 9.6 percent of the non-voting shares, for an equivalent amount of voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the held by the Wallace funds, plus a $3 premium per share. The firm has said it is dissatisfied with the way the company is being run, and is seeking a greater say. Vanguard adding 3rd LAX-KC flight Vanguard Airlines will add a third daily flight from Los Angeles to Kansas City to match increased travel demand this spring and summer. The new flights will be phased in starting March 28, and will increase the firm's peak daily traffic to 74 flights from 58. Trade deficit drop is first since 1995 WASHINGTON - The deficit in the nation's broadest measure of trade narrowed slightly to $417.4 billion last year, the first improvement since 1995. In further signs the economy apparently is emerging from the recession, businesses increased inventories in January for the first time in a year and the number of laid-off workers filing for unemployment benefits dropped for a second straight week. The Commerce Department reported that the deficit in the current account, which covers trade in goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. as well as investment earnings, shrank by 6.1 percent last year. The deficit was a record $444.7 billion in 2000. A second report Thursday showed that businesses increased their stockpiles by 0.2 percent in January after a year of aggressively cutting inventories in the face of falling demand. TV sports deals will lose $1 billion NEW YORK - Major TV networks' sports deals will result in total losses of about $1 billion annually over the next few years, according to a study by Morgan Stanley Dean Witter. A tight advertising market and escalating rights fees paid to sports leagues will combine to produce the losses, and the biggest deficits will come from NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga deals, the company said. The only sports found to be profitable for networks were the Olympics and college football. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion