Bayer buys 8.5% stake in PPL Therapeutics
Bayer is looking to purchase an 8.5% stake in theScotland-headquartered transgenic firm PPL Therapeutics by buying over 4.6 million shares for just under L10 million ($14.6 million).
The subscription price of L2.15 per share represents a premium of 37.4% on the mid-market closing price of a share on August 15, 2000. This was the day before Bayer and PPL entered into a collaboration for the development of an aerosolized formulation of PPL's transgenically-produced alpha1-antitrypsin (rAAT), initially for patients with AAT deficiency-related emphysema and thereafter for those suffering with cystic fibrosis (Marketletter August 21, 2000).
New facility planned
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