Alza To Purchase 4.9% Of US Bioscience
- Alza is buying 4.9% of US Bioscience at a purchase price of $18.26for each of the 1,178,883 common shares, a price which is 120% of the average closing price of US Bioscience shares as traded on the AMEX for the 10 days preceeding the date of the agreement (February 4). The investment will total about $21.5 million, with part of the proceeds to be invested in programs supporting the cytoprotective agent Ethyol (amifostine).
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