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Catalyst Health Solutions, Inc. (NASDAQ: CHSI) today announcedthe successful pricing of its public offering of 5,500,000 shares of common stock, consisting of 4,500,000 shares to be sold by the Company and 1,000,000 shares to be sold by one of its stockholders, Principal Holding Company, LLC, a subsidiary of Principal Financial Group, Inc., at a price of $53.00 per share. The underwriters have a 30-day option to purchase up to an additional 825,000 shares from the selling stockholder. The Company will not receive any proceeds from the sale of shares of its common stock by the selling stockholder. The offering was made pursuant to the Company’s registration statement and prospectus filed with the Securities and Exchange Commission (the “SEC”). Goldman, Sachs & Co. and Citi are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as joint lead managers. Subject to customary conditions, the offering is expected to close on or about April 13, 2011.
The Company expects to use the net proceeds received from this offering to fund a portion of the purchase price for the previously announced acquisition of Walgreens Health Initiatives, Inc. (“WHI”). If the acquisition is not completed, the Company will use the proceeds received from this offering for general corporate purposes.
New Website Launched for the Facts on Antibacterial Soaps
Consumers, researchers and regulators have a new website at their fingertips for fact-based, meaningful information on antibacterial soaps and ingredients: FightGermsNow.com
Novartis gets EU nod for blood pressure pill
Swiss drugmaker Novartis has received approval from the European Union for a single-pill treatment for high blood pressure
California Life Sciences to Partner with China
BIOCOM, a trade group representing Southern California’s life sciences industry, is ramping up partnership efforts in China to meet an emerging desire for novel drug therapies.
ADMA opposes ban on ISM drugs, urges govt. to seek observer status
The union government has been asked by the Ayurvedic Drug Manufacturers' Association (ADMA) to seek observer status for India at the European Union (EU) meetings relating to the ban on traditional medicines slated to take effect take effect from May 1 this year. The ADMA is set to submit a representation to the government regarding the same so that the effective steps ae taken in the same direction.
Suven Life Sciences eyes big with 7 product patents in kitty
Hyderabad-based Suven Life Scienes Limited (Suven) has announced the grant of seven product patents for the treatment of disorders associated with Neurodegenerative diseases. Among these product patents, two from Canada, three from India, one from Eurasia and one from Japan corresponding to the New Chemical Entities (NCEs). The patents will be valid through 2023, 2024 and 2025. The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven.
Indian firm Lupin pharma growing high in the US market
Lupin Pharma Inc, the US subsidiary of the Mumbai based Lupin, plans to launch over 75 products in the US in the coming three years. It already has about 28 products in the US market. With more products expected in the coming years, a growth rate of 25-30% per year from the US in the next three to four years is anticipated.
India, Uzbekistan summit to sort out hurdles affecting exports from Indian pharma sector
Uzbekistan, which holds vast potential for Indian pharmaceutical companies, and India will discuss the bottlenecks affecting the export and import fronts and facilitate the joint ventures in the sector, at a bilateral summit slated in May.
Pharma and the Earth
As Earth Day (April 22) approaches, many environmentalists and policymakers are discussing steps for the future with regard to reducing carbon footprints, saving energy, and restoring the world’s deteriorating ecosystems.
Cancer vaccines market forecast to reach $3B by 2015
Vaccines are developing as a viable treatment option in a variety of cancers for which current therapies are ineffective, and sales of such vaccines are expected to approach $3 billion by 2015, according to a new study.
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