Picchio Pharma purchase of Neurochem shares
Friday September 8, 10:57 am ET
MONTREAL, Sept. 8 /PRNewswire-FirstCall/ - In a series of open market transactions beginning August 17, 2006 and ending September 7, 2006, Picchio Pharma Inc. ("Picchio") has purchased an aggregate of 291,000 common shares of Neurochem Inc. ("Neurochem") through the facilities of the Toronto Stock Exchange. This represents approximately 0.8% of the outstanding common shares of Neurochem. Picchio now owns directly or indirectly 11,359,368 common shares of Neurochem or approximately 29.4% of the outstanding common shares of Neurochem. Picchio and its shareholders, FMRC Family Trust and Power Technology Investment Corporation, now own directly or indirectly 12,776,034 common shares of Neurochem or approximately 33% of the outstanding common shares of Neurochem.
As stated in a Schedule 13D filed today in accordance with United States securities legislation, Picchio may from time to time purchase additional Neurochem common shares in open market transactions and currently anticipates purchasing an aggregate of up to 209,000 additional Neurochem common shares. These purchases are subject to market and general economic conditions, the market price of the Neurochem common shares and other factors deemed relevant by Picchio.
For further information, please contact Roberto Bellini, (514) 282-0552,
ext. 229.
About Picchio Pharma Inc.
Picchio Pharma Inc. is a joint venture healthcare investment company established between FMRC Family Trust, a trust of which Dr. Francesco Bellini is a beneficiary, and Power Technology Investment Corporation, a subsidiary of Power Corporation of Canada. |
