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Chelsea Therapeutics International Ltd. To Implement Corporate Reorganization; Announces Board Changes

Tuesday, 10 Jul 2012 06:45am EDT

Chelsea Therapeutics International Ltd. announced that Board of Directors plans to promptly implement a corporate reorganization that includes a reduction in force, executive changes and changes to the Company's Board of Directors, and has authorized a plan to explore and evaluate strategic options for the Company, all with goal of optimizing long-term stockholder value. As part of reorganization, Chelsea's Board of Directors expects to significantly reduce the Company's headcount. As part of this effort, the Company plans to stop patient enrollment in ongoing 306B study in July. The reduction in force is expected to be completed in the third quarter of 2012. At the executive level, Simon Pedder Founder, President and CEO, has resigned as a director, officer and employee of the Company, effective immediately. Dr. Pedder will continue to serve the Company in an advisory capacity for smooth transition. The Board will begin evaluating candidates to succeed him as Chief Executive Officer. Joseph G. Oliveto, who has been the Company's Vice President, Operations since June 2008, has been appointed interim President and Chief Executive Officer until a permanent CEO is appointed. Keith Schmidt, Vice President, Marketing and Sales, will also be leaving the Company, but will remain available in an advisory capacity. At the Board level, Kevan Clemens has stepped down as Chairman and remains a director, with director Michael Weiser assuming the role of Chairman.

Roche Holding AG Revamps Research Operations, Cuts 1,000 U.S. Jobs-Reuters

Tuesday, 26 Jun 2012 03:35pm EDT

Reuters reported that Roche Holding AG said it was overhauling its research operations by closing the 80-year-old New Jersey facility where Valium was discovered, cutting 1,000 jobs and replacing its drug research chief. Roche will also shutter its 127-acre (51.4 hectares) Nutley, N.J.-based campus and move those activities to Germany and Switzerland, a consolidation aimed at curbing drug development costs. The sites in Switzerland and Germany are expected to add about 80 jobs, the Company said.

Hisamitsu Pharmaceutical Co., Ltd. to Dissolve Subsidiary and Sub-subsidiary

Sunday, 17 Jun 2012 10:30pm EDT

Hisamitsu Pharmaceutical Co., Ltd. announced that it has decided to dissolve its Saga-based 50%-owned sub-subsidiary, which had been engaged in the manufacturing and sale of medical products, as well as its Sago-based 50%-owned, which had been engaged in the trading and management of real estates. The liquidation will start after June 2012. The sub-subsidiary and subsidiary are now dormant companies.

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Analyst Research

Report Title Price
PLETHORA SOLUTIONS HOLDINGS - STAYING THE COURSE
Provider: Edison Investment Research
$10.00
Buy
PLETHORA SOLUTIONS HOLDINGS - WOMEN'S HEALTH PROGRESS
Provider: Edison Investment Research
$10.00
Buy
PLETHORA SOLUTIONS HOLDINGS - INTO PHASE III
Provider: Edison Investment Research
$10.00
Buy
PLETHORA SOLUTIONS - PAUL CAPITAL FINANCING
Provider: Edison Investment Research
$10.00
Buy
PLETHORA SOLUTIONS - LATE-STAGE PROGRESS
Provider: Edison Investment Research
$10.00
Buy

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