Mississauga, ON -- (SBWIRE) -- 07/12/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Mitsubishi Tanabe Pharma Boosting Stake in Medicago to 60 Percent.”
Companies mentioned in this article include Medicago Inc. (TSX:MDG) (OTCQX:MDCGF) and Philip Morris International Inc. (NYSE:PM).
Article Excerpt:
Biotechnology merger and acquisition deals are maintaining a steady pace in 2013 as bigger pharmas aren’t afraid to spend their cash hordes to bolster pipelines. A location that investors may start honing in on is Japan, where Prime Minister Shinzo Abe has made public his intentions to reform the funding of drug development to emulate the United States National Institute of Health.
On Friday, Medicago Inc. (TSX:MDG) (OTCQX:MDCGF) said that Japan’s Mitsubishi Tanabe Pharma Corp. is taking a majority stake in the Quebec City-based, clinical stage biotech company developing vaccines based on proprietary manufacturing technologies and Virus-Like Particles, or VLPs. Per the new definitive agreement, Mitsubishi Tanabe will acquire all of the issued and outstanding shares of Medicago that are not owned by Philip Morris Investments B.V. for $1.16 per share in cash. Including debt Mitsubishi Tanabe will assume the enterprise value of the deal which is $357 million. Philip Morris Investments is an affiliate of Philip Morris International Inc. (NYSE:PM).
The full version of this article can be found at:
http://www.allpennystocks.com/aps_ca/special-reports/359/mitsubishi-tanabe-pharma-boosting-stake-in-medicago-to-60-percent.htm
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