Key Developments: 3SBio Inc (SSRX.O)
16.58USD
20 May 2013
$-0.01 (-0.06%)
$16.59
$16.70
$16.70
$16.50
68,128
165,111
$16.70
$10.15
Latest Key Developments (Source: Significant Developments)
3SBio Inc Enters Into Merger Agreement For Going Private Transaction
3SBio Inc announced that it has entered into an agreement and plan of merger (the Merger Agreement) with Decade Sunshine Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands (Parent), and Decade Sunshine Merger Sub, an exempted company with limited liability incorporated under the laws of the Cayman Islands and a direct wholly owned subsidiary of Parent (Merger Sub). Pursuant to the terms of the Merger Agreement, each of the Company's ordinary shares, including Shares represented by American Depositary Shares, each representing seven Shares (the ADSs), issued and outstanding immediately prior to the effective time of the merger will be cancelled in exchange for the right to receive $2.20 in cash per Share, or $15.40 per ADS, without interest, except for the Shares beneficially owned by Parent, Merger Sub or certain Shares beneficially owned by certain Directors, officers or employees of the Company, and certain restricted shares and restricted share units issued by the Company to the Rollover Shareholders, the Shares beneficially owned by the Company or any direct or indirect wholly owned Subsidiary of the Company and the Shares owned by holders who have validly exercised and not effectively withdrawn or lost their appraisal rights pursuant to Section 238 of the Cayman Islands Companies Law, as amended. Parent intends to finance the merger through a combination of debt, equity and cash in the Company. Full Article
3SBio Inc Reiterates FY 2012 Revenue Guidance
3SBio Inc reiterated its fiscal 2012 net revenues guidance of USD99-USD106 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of USD105 million for fiscal 2012. Full Article
3SBio Inc's Independent Committee Selects Legal Counsel in connection with Going Private Proposal
3SBio Inc announced that the special committee of independent directors (the Independent Committee) has retained Cleary Gottlieb Steen & Hamilton LLP as the Independent Committee's legal counsel. As previously announced, the Company's board of directors formed the Independent Committee to review and evaluate the preliminary non-binding proposal dated September 12, 2012 from its chairman and chief executive officer, Dr. Jing Lou, and CPEChina Fund, L.P., (CITIC PE) to acquire all of the outstanding shares of the Company's common stock not currently owned by Dr. Lou and his affiliates. The Independent Committee is evaluating and considering Dr. Lou's and CITIC PE's proposal, as well as the Company's other strategic alternatives. No decisions have been made by the Independent Committee with respect to the Company's response to Dr. Lou's and CITIC PE's proposal. The Independent Committee has not set a definitive timetable for the completion of its evaluation of the proposal or any other alternative and does not currently intend to announce developments unless and until an agreement has been reached. There can be no assurance that any definitive offer will be made, that any agreement will be executed, or that this or any other transaction will be approved or consummated. Full Article
3SBio Inc Announces Receipt Of Going Private Proposal At $15 Per American Depositary Share
3SBio Inc announced that Board of Directors has received a preliminary non-binding proposal letter dated September 12, 2012 from its Chairman and Chief Executive Officer, Dr. Jing Lou, and CPEChina Fund, L.P., an exempted limited partnership registered under the laws of the Cayman Islands and a China-focused private equity fund associated with CITIC Private Equity Funds Management Co. Ltd. (CITIC PE), to acquire all of the outstanding shares of 3SBio Inc. not currently owned by Dr. Lou and his affiliates in a going private transaction for $15 per American Depositary Share (ADS, each ADS representing seven ordinary shares of the Company) in cash, subject to certain conditions. According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, and the buyer consortium has been in discussion with a financial institution which has expressed interest in financing the proposed acquisition. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. Full Article
3SBio Inc Reiterates FY 2012 Revenue Guidance
3SBio Inc announced that it is reiterating its fiscal 2012 net revenue guidance of between USD99-USD108 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $103 million for fiscal 2012. Full Article
3SBio Inc. Obtains SFDA Approval To Join Global Phase III Trial For Voclosporin
3SBio Inc. announced that the State Food and Drug Administration (SFDA) has approved 3SBio's application to conduct the China arm of the multi-center phase III trial of voclosporin, a new generation calcineurin inhibitor licensed from Isotechnika Pharma Inc. According to the approved protocol, this will be a phase III, randomized, multi-center, concentration-controlled comparison study on renal transplant patients. Patient enrollment is expected to begin in the third quarter of 2012. Full Article
3SBio Inc. Reiterates FY 2012 Revenue Guidance
3SBio Inc. reiterated fiscal 2012 net revenues guidance of USD99-USD108 million. Full Article
3SBio Inc. Issues FY 2012 Revenue Guidance In Line With Analysts' Estimates
3SBio Inc. announced that for fiscal 2012, it expects net revenue to grow by 15%-25% or between USD99 million to USD108 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of USD103 million for fiscal 2021. Full Article
3SBio Inc. And DaVita Inc Collaborate On Dialysis Clinics In Northeastern China
3SBio Inc. announced a collaboration agreement with DaVita Inc to provide kidney care services in Jilin and Liaoning, two provinces in northeastern China with a combined population of 64 million. The total investment is USD20 million with DaVita and 3SBio contributing 70% and 30% respectively. In addition to establishing their joint venture, DaVita and 3SBio have also agreed to enter into a supply agreement for anemia management drugs throughout China. Full Article
3SBio Inc. Reiterates FY 2011 Revenue Guidance
3SBio Inc. reiterated its fiscal 2011 net revenues guidance of USD76-USD82 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of USD82 million for fiscal 2011. Full Article
UPDATE 1-Consortium raises offer for China's 3SBio
April 22 - 3SBio Inc said a consortium comprising its Chief Executive Jing Lou and CITIC Private Equity has raised its offer for the Chinese biotechnology company for the second time to about $370 million.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
