Friday, October 30, 2015
Thursday, October 29, 2015
Tuesday, October 27, 2015
Monday, October 26, 2015
BlueScope Steel Acquires North Star Stake - worth it or not?
Australia's largest steelmaker,BlueScope Steel,is buying the remaining 50% of North Star BlueScope Steel from Cargill for 742 million dollars US,having previously bought a 50% stake in North Star.BlueScope,of Melbourne,Victoria,will assume North Star's net debt of 40 million.The transaction will amount to a fiscal 2015 multiple of 7.1 and cash flow of 0.26 per share for BlueScope.*
North Star has delivered consistent financial performance and strong returns on investment capital to BlueScope,said BlueScope Managing Director and CEO Paul O'Malley.The asset is highly regarded within the US steel sector.Full ownership enhances BlueScope's portfolio value and optionality and improves business flexibility.The North Star business delivers on our strategy of being cost competitive on steelmaking and is best in class.It is anticipated the transaction will be funded through a combination of US capital markets issuance and longer term bank debt,Mr.O'Malley added.
North Star is a high quality,structurally advantaged asset;centrally located within a large scrap pool;operates close to its core markets;has low conversion costs;and benefits from a highly motivated and focused workforce,he pointed out.*
North Star has 380 employees.They produce 2.0 million tonnes of hot rolled coil a year at its mini-mill in Delta,Ohio.BlueScope plans to bring the debt down through targeted divestments and operational cash flow.*
BlueScope Steel Ltd (PINX:BLSFF),(BSL:ASE)
North Star has delivered consistent financial performance and strong returns on investment capital to BlueScope,said BlueScope Managing Director and CEO Paul O'Malley.The asset is highly regarded within the US steel sector.Full ownership enhances BlueScope's portfolio value and optionality and improves business flexibility.The North Star business delivers on our strategy of being cost competitive on steelmaking and is best in class.It is anticipated the transaction will be funded through a combination of US capital markets issuance and longer term bank debt,Mr.O'Malley added.
North Star is a high quality,structurally advantaged asset;centrally located within a large scrap pool;operates close to its core markets;has low conversion costs;and benefits from a highly motivated and focused workforce,he pointed out.*
North Star has 380 employees.They produce 2.0 million tonnes of hot rolled coil a year at its mini-mill in Delta,Ohio.BlueScope plans to bring the debt down through targeted divestments and operational cash flow.*
BlueScope Steel Ltd (PINX:BLSFF),(BSL:ASE)
Saturday, October 24, 2015
Friday, October 23, 2015
Thursday, October 22, 2015
Tuesday, October 20, 2015
Monday, October 19, 2015
Sunday, October 18, 2015
Friday, October 16, 2015
Thursday, October 15, 2015
Wednesday, October 14, 2015
Tuesday, October 13, 2015
Monday, October 12, 2015
Friday, October 9, 2015
Tuesday, October 6, 2015
Monday, October 5, 2015
MedImmune and 3M Partner in Cancer Drug Research
MedImmune,the biotech subsidiary of British pharma titan AstraZeneca,and 3M Drug Delivery Systems announced a research collaboration on 25 September 2015.It is focused on developing nextgen toll-like receptor agonists,which are agents that activate innate immune cells and enhance the visibility of cancer tumours.MedImmune has licensed MEDI9197 from 3M,which the US FDA recently accepted for an investigational drug application,allowing a Phase I study on its safety and tolerability as a potential treatment for solid tumour patients.*
Such TLR agonists activate antigen presenting cells such as dendritic cells,enhancing the visibility of a tumour to the immune system.MEDI9197 has been designed to activate a broad range of innate immune cells,leading to a more robust adaptive immune response.
Preclinial studies show MEDI9197 may inhibit tumour growth of both the injected and distant lesions in multiple types of cancer,including melanoma skin cancer.It is designed for intratumoural injection,allowing the compound to be retained in the tumour and provide specific immune activation,enhancing its safety and tolerability.*
MEDI9197 adds a unique mechanism to our growing portfolio,and supports our strategy of maximising anti-tumour immunity through scientifically rational combinations,said MedImmune Sr. Vice President and Head of Research Yong-Jun Liu,PhD.*
Everyone here at 3M's Drug Delivery Systems is very excited to collaborate with MedImmune,a world leader in cancer immunotherapy,according to Cindy Kent,President and General Manager of 3M DDS.We're very pleased with the progression of MEDI9197 to the clinic.*
Under the deal,MedImmune will be responsible for the clinical development and strategy for MEDI9197.3M will continue to develop more TLR agonists in oncology and other therapy areas,with MedImmune holding exclusive rights to conduct research on new molecules resulting from the collaboration,and to determine which to progress to clinical development.
MedImmune will make an upfront payment to 3M and must make developmental milestone payments for MEDI9197,as well as provide research funding to 3M.*
MedImmune is based in Gaithersburg,Maryland and is best known for its Flu-Mist influenza vaccines and its pediatric vaccine Synagis,which prevents the serious respiratory disease RSV.3M is a Saint Paul,Minnesota-based multinational corporation with 11 lines of business.It is famous for products such as the iconic Scotch Tape and Post-It Notes.*
AstraZeneca (AZN),3M (MMM)
Such TLR agonists activate antigen presenting cells such as dendritic cells,enhancing the visibility of a tumour to the immune system.MEDI9197 has been designed to activate a broad range of innate immune cells,leading to a more robust adaptive immune response.
Preclinial studies show MEDI9197 may inhibit tumour growth of both the injected and distant lesions in multiple types of cancer,including melanoma skin cancer.It is designed for intratumoural injection,allowing the compound to be retained in the tumour and provide specific immune activation,enhancing its safety and tolerability.*
MEDI9197 adds a unique mechanism to our growing portfolio,and supports our strategy of maximising anti-tumour immunity through scientifically rational combinations,said MedImmune Sr. Vice President and Head of Research Yong-Jun Liu,PhD.*
Everyone here at 3M's Drug Delivery Systems is very excited to collaborate with MedImmune,a world leader in cancer immunotherapy,according to Cindy Kent,President and General Manager of 3M DDS.We're very pleased with the progression of MEDI9197 to the clinic.*
Under the deal,MedImmune will be responsible for the clinical development and strategy for MEDI9197.3M will continue to develop more TLR agonists in oncology and other therapy areas,with MedImmune holding exclusive rights to conduct research on new molecules resulting from the collaboration,and to determine which to progress to clinical development.
MedImmune will make an upfront payment to 3M and must make developmental milestone payments for MEDI9197,as well as provide research funding to 3M.*
MedImmune is based in Gaithersburg,Maryland and is best known for its Flu-Mist influenza vaccines and its pediatric vaccine Synagis,which prevents the serious respiratory disease RSV.3M is a Saint Paul,Minnesota-based multinational corporation with 11 lines of business.It is famous for products such as the iconic Scotch Tape and Post-It Notes.*
AstraZeneca (AZN),3M (MMM)
Saturday, October 3, 2015
Friday, October 2, 2015
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