On Thursday Amgen (NASDAQ:AMGN) okayed a rise in share buyback authorization in the amount of $2 billion, which is in addition to the approximate $500 million remaining under the previously announced $10 billion share repurchase program.
Infinity Pharmaceuticals (NASDAQ:INFI) reported the pricing of an underwritten registered public offering of 5,696,923 shares of its common stock, at a public offering price of $26.33. All shares in the offering are to be sold by Infinity and the offering should close on or about December 18th, subject to the usual closing conditions.
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AstraZeneca Group’s (NYSE:AZN) experimental rheumatoid arthritis drug has proved inferior to Abbott Laboratories’ (NYSE:ABT) Humira in a clinical evaluation, downing hopes for one of the few late-stage products in the former’s pipeline. The mid-sized study of fostamatinib, given as a pill instead of injected as is the case with Humira, indicated that it was not as good as Abbott’s medication in controlling arthritis symptoms.
Cytori Therapeutics (NASDAQ:CYTX) said Thursday that it will offer and sell shares of its common stock in an underwritten public offering, which is subject to market conditions, and thus there can be no assurance as to whether or when the offering may be closed, or as to the actual size or terms of the offering. Lazard Capital Markets is acting as the sole book-running manager of the offering.
Investing Insights: MetLife Scores Profits But Fails to Meet Expectations.