Proteus Plunges As Deal Collapses
Having risen to 167 pence ($2.56) a week ago on the back of a deal signed with SmithKline Beecham and the promise of more in the pipeline (Marketletter December 11), the firm's share price is down to 111 pence (see page 8). This came about when the firm announced that another deal it was forming with an unidentified company, but which is thought to be Merck & Co of the USA, fell apart as Proteus was preparing to sign.
Proteus had indicated that it would sign five deals by the end of March 1996. The other three deals, however, are said to be progressing well.
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