In Brief: Fresenius USA
This article was originally published in The Gray Sheet
Executive Summary
Fresenius USA: Firm's shareholders will receive approximately 1.112 American Depositary Shares (ADS) of the combined National Medical Care and Fresenius AG business -- Fresenius Medical Care AG -- for each share of Fresenius USA under a plan announced May 8. The plan allows Fresenius USA shareholders to "participate" in the pending combination of Grace's NMC with Fresenius AG ("The Gray Sheet" Feb. 12, p. 8). "Each ADS will evidence one-third of an ordinary share of Fresenius Medical Care AG," Fresenius USA and Fresenius AG say, noting that the exchange ratio is based on "the current intent" that 70 mil. ordinary shares of Fresenius Medical Care AG will be outstanding. After the deal's closing, Fresenius AG, Grace, and Fresenius USA shareholders will hold 50.3%, 44.8%, and 4.9% of the combined business, respectively...
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.