AstraZeneca Gets Patent Blow and 4 Stocks At 52-Week Highs
AmerisourceBergen (NYSE:ABC): Closing price $52.41
The firm will divest its contract packaging unit, AndersonBrecon, to an entity formed by affiliates of an investor group headed by Frazier Healthcare VI for the purpose of buying AndersonBrecon. The purchase price for the cash transaction is $308 million, subject to the usual adjustments for, among other things, the working capital of the business. The transaction should close in the third quarter of fiscal 2013, which ends June 30th. Shares closed up 1.49 percent on Tuesday at $52.41, and have been traded in a 52-week range of $35.48 to $52.15.
AstraZeneca (NYSE:AZN): Closing price $50.34
On Tuesday, the firm said that the United States District Court for the District of New Jersey ruled that its United States Patent No. 6,598,603, protecting Pulmicort Respules in the U.S., is invalid. Beyond that, the Court decided that the generic defendants involved in the litigation do not infringe AstraZeneca’s second patent, Patent No. 7,524,834. Executive Vice President, North America, Paul Hudson responed that “AstraZenca strongly disagrees with the Court’s decision. AstraZeneca has full confidence in the strength of its intellectual property rights protecting Pulmicort Respules. AstraZeneca is considering next steps, including an appeal of the Court’s decision.” Shares closed up 0.46 percent on the day at $50.34, having been traded in a 52-week range of $39.72 to $50.24.
Comcast Corp. (NASDAQ:CMCSA): Closing price $42.30
A federal appeals court on Monday turned downa request by TV networks to shut down Aereo, which delivers the networks’ broadcasts over the Internet, said The Hill, which went on to say that litigation between the networks and Aereo should continue as the service expands to new cities. Shares closed up 2.22 percent on the day at $42.30, and have been traded in a 52-week range of $28.09 to $42.06.
DDR Corp (NYSE:DDR): Closing price $17.86
The corporation announced a continued execution of its strategic capital recycling program, which includes the purchase of two prime assets for $81 million in Dallas and Oakland. Also during the quarter, DDR divested $46 million worth of non-prime assets, including $8 million of non-income producing assets; the company’s share of first quarter disposition proceeds stood at $35 million. Shares closed up 2.23 percent on Tuesday at $17.86, having been traded in a 52-week range of $13.29 to $17.74.
DISH Network Corp. (NASDAQ:DISH): Closing price $38.07
DISH Network said that its subsidiary, DISH DBS Corporation, plans to offer roughly $1.0 billion aggregate principal amount of its senior notes. The net proceeds will be used for general corporate purposes, which might include wireless and spectrum-related strategic transactions. Shares closed up 0.08 percent on the day at $38.07, and have been traded in a 52-week range of $26.12 to $38.20.