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BUSINESS BRIEFS.(TO THE POINT)
MEDICAL
Merck pulls plans for Medco IPO
The Merck unit cited market conditions. It had planned to raise $934 mil to $1.03 bil by selling 46.7 mil shares for $20-$22 each. But the IPO had been delayed three times amid market woes and accounting questions at the pharmacy benefits manager unit. Merck still expects a Medco IPO within 12 months.
AmerisourceBergen Q3 profit up
Merger savings helped boost the drug distributor's profit 48% to 86 cents a share, a nickel over views. But some investors hoped for 87 cents. AmerisourceBergen's sales rose 230% to $11.6 bil. Amerisource expects to beat Q4 and full-year views. It's the third time Amerisource upped '02 targets. But its shares fell 4%.
Elan Q2 profit fell 84%, to ax jobs
The Irish drug firm earned 7 cents a share, well below views of 22 cents. Including charges, Elan lost $2.29. Revenue slipped 1% to $456.1 mil. Elan plans to cut about 1,000 jobs, or 21% of its staff, by year-end. The scandal-hit firm also hopes to raise $1 bil in the next nine months by selling off its noncore businesses.
- Merck's Medco IPO Hits New Snag; Spinoff Is Delayed by Revenue Scrutiny.
- Newspaper article from: Knight Ridder/Tribune Business News July 9, 2002 700+ words
...amounts as costs. She said the registration statement for the Medco IPO has been "thoroughly reviewed" by the SEC. "We're confident...were less certain. "This may reduce the likelihood that the Medco IPO gets done at this time," Steve Tighe, a pharmaceutical analyst...
- Merck delays Medco IPO once again. (RX/News).(Brief Article)
- Magazine article from: Chain Drug Review August 5, 2002 700+ words
NEW YORK--Merck & Co. has again postponed the initial public offering (IPO) of its Medco Health Solutions Inc. subsidiary, but the company maintains that it will still spin off the unit within 12 months. Merck, which would still own 80% of the company following the IPO, hopes to raise as much
- Merck files for Medco IPO. (In Brief: Business).(Merck-Medco Managed...
- Magazine article from: Chemical Market Reporter April 22, 2002 700+ words
Merck & Company Inc. has filed a registration statement with the SEC for an initial public offering of shares of common stock of its wholly owned pharmacy benefits management subsidiary Merck-Medco Managed Care LLC.
- Halftime score: $8.79 bil. Consumer spending on video leaps 13.3% in...
- Magazine article from: Video Business Hettrick, Scott July 15, 2002 700+ words
...revenue 2.4%. Six months down, six to go YTD spending % change from 2001 DVD only $4.35 bil. +90.2 VHS only $4.44 bil. -18.8 Total $8.79 bil. +13.3% Source: VSDA VidTrac and studio sales data Next week in VB: Rental, sales...
- Kagan Forecasts Domestic Box Office to Decline 2.1% in 2005 to $9.1 bil.
- Press release article from: Business Wire October 11, 2005 700+ words
...domestic gross was down 4.8% to nearly $4.9 bil., compared to $5.1 bil. in 2004. The study projects total box office will decline 2.1% in 2005 to $9.1 bil. Despite declining admissions, exhibitors have managed...
- Dexia BIL Implements NetEconomy's ERASE Software to Combat Money Laundering for...
- Press release article from: Business Wire January 28, 2003 700+ words
...Banque Internationale a Luxembourg (Dexia BIL), a branch of the Dexia Group (Belgium...months. The system is operational for Dexia BIL's private and retail banking operations...Frank Veyder, Head of Compliance at Dexia BIL. "Dexia takes money laundering prevention...
- S&P Asgns Rtgs to Life's JPY245 Bil. Japanese ABS.
- Press release article from: Business Wire October 15, 2001 700+ words
...2001-1 secured notes due 2008 Class Amount Interest rate Rating A-1 JPY210.8 bil One-month LIBOR + 0.40% AAA A-2 JPY3.7 bil 0.58% AAA B-1 JPY2.1 bil One-month LIBOR + 0.50% AA B-2 JPY3.4 bil 0.96% AA C-1 JPY2.5 bil...
- Bil Mar Foods Announces Voluntary Withdrawal of Mr. Turkey Jumbo Franks From...
- Press release article from: PR Newswire September 21, 1998 700+ words
...Mich., Sept. 18 /PRNewswire/ -- Bil Mar Foods today announced that as a precautionary...pound packages of Mr. Turkey Franks. Bil Mar has notified supermarkets and other...said Dr. William C. Schwartz, Ph.D., Bil Mar's Vice President, Quality Assurance...
