Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Regeneron Pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: Miljenko Zuanic who wrote (598)	11/28/2001 1:17:02 PM
From: tuck	Read Replies (1) \| Respond to of 3559

>>WASHINGTON, Nov 28 (Reuters) - Procter & Gamble Co.'s (NYSE:PG - news) pharmaceutical division plans to sell $60 million of Regeneron Pharmaceuticals Inc. (NasdaqNM:REGN - news) common stock to four affiliated institutional investors, P&G said in a regulatory filing on Wednesday. The sale of 3 million shares for $20 each is scheduled to be completed on Nov. 29 and will result in P&G's stake in Regeneron falling to 6.5 percent, or about 2.7 million shares, according to the filing with the Securities and Exchange Commission. Regeneron, a drug developer based in Tarrytown, New York, has drugs in clinical trials for obesity and arthritis. The company also hopes to develop treatments for cancer, asthma, allergies and other conditions. Regeneron agreed to the P&G sale under a March 2001 agreement. Its shares were down $1.51, or 5.3 percent, to $26.99 in afternoon trading on Nasdaq.<< snip Cheers, Tuck