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MONEY & FINANCES: Aug 11, 2000

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•  Anglo-Norwegian healthcare group Nycomed Amersham plans to spin off about 10 percent of Amersham Pharmacia Biotech in an initial public offering on the Nasdaq that will take place by the end of the year, Reuters reported.

The size of the spin off was limited by Pharmacia’s 45 percent ownership of Amersham.

Pharmacia is prohibited from disposing of certain “pooled” interests for up to two years following its recent merger with Monsanto. Nycomed Amersham owns 55 percent of Amersham.

Pharmacia granted Nycomed Amersham a call option, exercisable for six months from June 2002, for 15 to 20 percent of Amersham Pharmacia of its stake. The exercise price would be based on the then prevailing market price of Amersham Pharmacia.

Nycomed will retain management control of Amersham Pharmacia and its chief executive, Bill Castell, will be chairman of the company.

 

•  Venture capital company Tredegar Investments of Seattle, Wash., announced that it owns about one million shares of Rosetta Inpharmatics, a developer of drug discovery technologies that recently went public. 

Tredegar said the cost basis of its investment in Rosetta was approximately $5 million.

Tredegar has direct and indirect ownership stakes in more than 250 technology-based start-up companies in the communications, information technology, and life sciences industries.

 

•   Celera Genomics of Rockville, Md., said its fiscal fourth quarter net loss widened to $24.9 million, or 43 cents a share, compared with a net loss of $19.9 million, or 39 cents a share, in the year ago quarter.

Excluding expenses stemming from the acquisition of Paracel, net losses for the quarter totaled $20.4 million, or 35 cents a share, in line with analysts’ expectations.

Revenues increased nearly threefold to $15 million, compared with $5.1 million in the same period last year. Celera attributed the increase to several multi-year subscription and related service agreements.

For the fiscal year ended June 30, 2000, Celera reported a net loss after benefit for taxes of $92.7 million, or $1.73 a share, compared with a net loss after benefit for taxes of $44.9 million, or 89 cents a share, for fiscal 1999.

Revenues for the year more than tripled to $42.7 million, com-pared with $12.5 million in 1999.

 

•   Applied Biosystems of Foster City, Calif., said its fourth quarter net earnings from continuing oper-ations increased to $56.6 million, or 26 cents per diluted share, up from $45 million, or 21 cents, in the year-ago fourth quarter.

The results were in line with Wall Street’s expectations.

Net revenue for the quarter ended June 30, rose 21 percent to $391.8 million, from $323.5 million, a year earlier. The figure does not include operations from a stake it sold in Tecan and special items. 

For the fiscal year ended June 30, 2000, Applied Biosystems said income from continuing operations increased 35 percent to $186.2 million. On a per share basis, earnings increased to 86 cents a diluted share compared with 67 cents a diluted share in fiscal 1999.

Revenues for the year jumped 24 percent to $1.4 billion.

Filed under

The Scan

Booster for At-Risk

The New York Times reports that the US Food and Drug Administration has authorized a third dose of the Pfizer-BioNTech SARS-CoV-2 vaccine for people over 65 or at increased risk.

Preprints OK to Mention Again

Nature News reports the Australian Research Council has changed its new policy and now allows preprints to be cited in grant applications.

Hundreds of Millions More to Share

The US plans to purchase and donate 500 million additional SARS-CoV-2 vaccine doses, according to the Washington Post.

Nature Papers Examine Molecular Program Differences Influencing Neural Cells, Population History of Polynesia

In Nature this week: changes in molecular program during embryonic development leads to different neural cell types, and more.