Emergent BioSolutions spins out Aptevo as stand-alone company
US biotech firm Emergent BioSolutions’ (Nasdaq: EBS) board of directors has approved the spin-off of Aptevo Therapeutics and declared a dividend distribution of one share of Aptevo common stock for every two shares of Emergent common stock outstanding as of the close of business on July 22, 2016, the record date for the distribution.
Emergent, which has just been named as the best-performing company in Maryland by Forbes magazine, expects to complete the distribution of Aptevo common stock to Emergent stockholders on August 1, 2016.
Daniel Abdun-Nabi, president and chief executive of Emergent BioSolutions, said: “This announcement marks an important milestone towards the creation of two stand-alone, publicly-traded companies that share a strong foundation of providing healthcare products that protect and enhance lives. Emergent and Aptevo are excited about the opportunities awaiting both companies and their respective stockholders following completion of the spin-off.”
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze