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Biotech / Medical : Biochem Pharma (BCHE)
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To: Jim Oravetz who wrote (754)6/27/2000 12:33:00 PM
From: Jim Oravetz  Read Replies (1) of 783
 
BioChem Pharma Inc. (BCHE) has closed the sale of its interest in North American Vaccine Inc. (NVX) to Baxter International Inc. (BAX).

In a news release, BioChem said Baxter is paying total consideration of C$210 million for BioChem's holdings in North American Vaccine, which include shares, a debenture, a line of credit and "related interest and premium." It said the consideration consists of C$86 million in cash and about 1.3 million Baxter shares.

As reported, Baxter completed its US$6.73-a-share takeover of North American Vaccine Monday.

Baxter International, Deerfield, Ill., makes blood and circulatory products.

North American Vaccine, Beltsville, Md., is a vaccine research and development concern.

Jim
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