Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) ended Wednesday session in green amid volatile trading. The shares closed up +1.36 points or 2.54% at $54.96 with 5.03 million shares getting traded. Post opening the session at $53.92, the shares hit an intraday low of $53.92 and an intraday high of $55.00 and the price vacillated in this range throughout the day. The company has a market cap of $50.55 billion and the numbers of outstanding shares have been calculated to be 1.02 billion shares.
On July 21, 2016 Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced that it successfully priced a debt offering by its special purpose finance subsidiary Teva Pharmaceutical Finance Netherlands II B.V., consisting of the following tranches:
€1.75 billion of 0.375% fixed rate senior notes maturing in 2020;
€1.50 billion of 1.125% fixed rate senior notes maturing in 2024; and
€0.75 billion of 1.625% fixed rate senior notes maturing in 2028.
The notes will be sold at a price of 99.644%, 99.231% and 98.898% of the principal amount thereof, respectively, and will be guaranteed by Teva Pharmaceutical Industries Limited. These notes are in addition to the multi-tranche $15 billion aggregate principal amount of USD-denominated senior notes that priced earlier this week. An additional senior, unsecured benchmark-sized offering of CHF-denominated multi-tranche debt securities is contemplated, subject to market conditions.
“The success of our European bond offering capitalized on the strong demand for our $15 billion U.S. debt offering earlier this week. The creation of one of the largest order books in the history of the European debt capital markets, exceeding the offering size many times, together with the exceptionally low rates, is a testament to Teva’s financial strength and credibility with investors worldwide,” said Eyal Desheh, Teva’s Chief Financial Officer.
Shares of Opko Health Inc. (NYSE:OPK) ended Wednesday session in green amid volatile trading. The shares closed up +0.04 points or 0.40% at $9.93 with 2.55 million shares getting traded. Post opening the session at $10.00, the shares hit an intraday low of $9.80 and an intraday high of $10.00 and the price vacillated in this range throughout the day. The company has a market cap of $5.35 billion and the numbers of outstanding shares have been calculated to be 547.44 million shares.
On June 30, 2016 Opko Health Inc. (OPK) and Transition Therapeutics Inc. (NASDAQ:TTHI, TSX:TTH) announced the signing of a definitive agreement under which OPKO will acquire Transition Therapeutics, a clinical stage biotechnology company.
Under the terms of the agreement approved by the Boards of Directors of both companies, Transition Therapeutics security holders will receive approximately 6.4 million shares of OPKO common stock. Based on the moving average price of OPKO common stock for the five trading days preceding the signing of the agreement, the transaction is valued at approximately US$60 million, or US$1.55 per share of Transition Therapeutics common stock, based on current outstanding shares. The companies expect the transaction to close during the second half of 2016, subject to approval of Transition Therapeutics stockholders and other customary conditions.