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Strategies & Market Trends : 2002 Canadian Stock-Picking Challenge
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To: Arthur Radley who wrote (494)12/4/2002 6:23:19 AM
From: Al Collard   of 1590
 
AXP-t...in the news:

Globe says Axcan swallowing Abbott's Panzytrat brand

The Globe and Mail reports in its Wednesday, Dec. 4, edition that Axcan
Pharma has struck a deal to acquire a line of drug products from Abbott
Laboratories of North Chicago, Ill. The Globe's Briefing column reports
that under a deal announced Tuesday, Axcan will acquire a pancreatic enzyme
line of products under the Panzytrat brand name from Abbott for $45-million
(U.S.) in cash. Axcan, based in Mont St-Hilaire, Que., said it expects the
acquisition to increase its revenue and add about eight U.S. cents a share
in profit over the next year. Axcan stock slipped a Canadian dime to close
at $17 (Canadian) on the Toronto Stock Exchange Tuesday. The stock has a
52-week trading range of $24.23 (Canadian) to $12.33 (Canadian).
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