Malin Corporation, a Dublin-based life sciences investment firm, experienced a significant rise in its share price following the news that Roche, a Swiss pharmaceuticals giant, has agreed to acquire Poseida, a Nasdaq-listed biopharma company in which Malin holds a 12% stake, for up to $1.5 billion.
Malin Corporation , the Dublin -based life sciences investment firm, saw its share soar 37 per cent in early trading on Tuesday after the company behind its most valuable investment agreed to be taken over by Swiss pharmaceuticals giant Roche . Photograph: Philipp Schmidli/Bloomberg
Shareholders are set to receive $9 per share at the closing of the deal early next year, and much as $4 per share subject to Poseida, which has a number of treatments in clinical trials as it focuses on the fields of oncology, immunology, and neurology. The now-abandoned €45 million buyback was planned as a way of handing out proceeds from Malin’s sale of its stake in a company called CG Oncology.
Malin Corporation Roche Poseida Dublin Pharmaceuticals Acquisition
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man missing in Wexford Harbour named locally as Brandon Roche (20)Coast Guard, RNLI and Garda water unit will continue search on Tuesday for man who entered water at 2am on Sunday
Read more »
Government collects record €116bn in tax last yearCorporation tax revenues more than double in four years since 2019
Read more »
Coleen Nolan's son cancels tour as he shares surprise baby updateJake Roche - the son of Loose Women star Coleen Nolan and EastEnders icon Shane Richie - is set to welcome his first child and the due date is very soon indeed
Read more »
Election 2024: Cliff Taylor runs the rule over what you need to know about party promisesGenerous ‘good times’ spending across Fine Gael, Fianna Fáil and Sinn Féin manifestoes ... but declining corporation tax receipts would stretch all three
Read more »
Seriousness of Trump threat to Irish economy may take some time to emergeUS election: Tariffs and corporation tax are key areas to watch when calculating risk to Irish economy of Republican presidential victory
Read more »
Cliff Taylor: Seriousness of Trump threat to Irish economy may take some time to emergeUS election: Tariffs and corporation tax are key areas to watch when calculating risk to Irish economy of Republican presidential victory
Read more »