mlkrborn
11 years ago
ShangPharma enters into definitive merger agreement for going private transaction (SHP) 8.07 : Co announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with ShangPharma Holdings Limited ("Holdings"), ShangPharma Parent Limited ("Parent") and ShangPharma Merger Sub Limited, pursuant to which Parent will acquire the Company for US$0.50 per ordinary share or US$9.00 per American Depositary Share, each representing eighteen ordinary shares ("ADS").
This represents a 30.8% premium over the closing price of $6.88 per ADS as quoted by the New York Stock Exchange (on July 5, 2012, the last trading day prior to the Company's announcement on July 6, 2012 that it had received a "going private" proposal, and a 44.8% and 34.2% premium to the volume-weighted average closing price of the Company's ADSs during the 30 and 60 trading days prior to August 13, 2012, respectively. The consideration to be paid to holders of ordinary shares and ADSs implies an equity value of the co at ~US$173 million, on a fully diluted basis.
surf1944
12 years ago
7:40AM ShangPharma announces receipt of 'going private' proposal at $8.50 to $9.50 per ADS (SHP) 6.80 : Co announced that its Board of Directors has received a non-binding proposal letter dated July 6, 2012 from its Chairman and Chief Executive Officer, Mr. Michael Xin Hui, and entities affiliated with him, and TPG Star Charisma Limited and its affiliates to acquire all of the outstanding shares of ShangPharma not currently owned by Founder or TPG in a going private transaction for between $8.50 and $9.50 per American Depositary Share in cash, subject to certain conditions. Founder and TPG currently own ~ 54% and 11% of ShangPharma's ordinary shares, respectively. According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, with definitive commitments for the required debt and equity funding expected to be in place, subject to the terms and conditions set forth therein, when the definitive agreements with respect to the acquisition and related transactions are signed. ShangPharma's Board of Directors has formed a special committee of independent directors consisting of three independent directors, Mr. Julian Ralph Worley, Mr. Yuk Lam Lo and Mr. Benson Tsang, to consider this proposal. The Independent Committee will retain a financial advisor and legal counsel to assist it in its work.
sell it ASAP, this is the top
surf1944
12 years ago
ShangPharma Announces Opening of New Facility to Support Lilly's Pipeline
PR NewswirePress Release: ShangPharma Corporation – Tue, Jan 10, 2012 8:00 AM EST
SHANGHAI , Jan. 10, 2012 /PRNewswire-Asia/ -- ShangPharma Corporation (NYSE: SHP - News) ("ShangPharma" or the "Company"), a leading China -based pharmaceutical and biotechnology research and development outsourcing company, today announced that it has opened a new facility to meet the growing capacity needs of one of its largest customers, Eli Lilly and Company ("Lilly"). ShangPharma also announced that it has signed a multi-year extension of its contract with Lilly.
"We are delighted to extend and deepen our highly productive relationship with Lilly," said Michael Xin Hui , founder and Chief Executive Officer of ShangPharma. "Renewing our agreement to serve as a key support partner for Lilly's discovery services is a clear indication that international pharmaceutical companies appreciate the high quality of ShangPharma's team and the excellence of our R&D capability. Our focus on building trust with companies through years of cooperation helps ShangPharma better understand our customers' needs and exceed their expectations."
ShangPharma's newly opened facility adds 110,000 square feet of laboratory and office space to the Company's overall capacity, and is fully dedicated to supporting Lilly's ongoing and future projects. The opening of the facility coincides with the multi-year extension of ShangPharma's contract with Lilly.
William Dai , ShangPharma's Chief Financial Officer, commented, "The opening of this state of the art facility gives us the capacity to expand our operations and better meet Lilly's growing demand. We expect to achieve high utilization of the new facility from day one
surf1944
13 years ago
8:01AM ShangPharma purchases Shanghai in-vivo drug research facility from Charles River (CRL) (SHP) 29.64 : Co announces it has, through its main Chinese subsidiary, Shanghai ChemPartner, acquired the assets in Charles River Laboratories' (CRL) Shanghai research facility. As part of the transaction, ShangPharma will take over Charles River's lease for the facility, which will provide the co with an additional 2,972 square meters.
mlkrborn
13 years ago
SHP rose from $8 to $30 since august! ShangPharma purchases Shanghai in-vivo drug research facility from Charles River (CRL) (SHP) 29.64 : Co announces it has, through its main Chinese subsidiary, Shanghai ChemPartner, acquired the assets in Charles River Laboratories' (CRL) Shanghai research facility. As part of the transaction, ShangPharma will take over Charles River's lease for the facility, which will provide the co with an additional 2,972 square meters.
surf1944
13 years ago
Zacks Sell List Highlights: SangPharma Corp, Lincare Holdings, American Eagle Outfitters, The Pep Boys- Manny, Moe & Jack
On Friday July 22, 2011, 8:06 am EDT
For Immediate Release
Chicago, IL – July 22, 2011 – Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): SangPharma Corp (NYSE: SHP - News) and Lincare Holdings Inc. (NasdaqGS: LNCR - News). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: American Eagle Outfitters (NYSE: AEO - News) and The Pep Boys- Manny, Moe & Jack (NYSE: PBY - News).
To see the full Zacks #5 Rank List - Stocks to Sell Now visit: http://at.zacks.com/?id=92
Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.
Here is a synopsis of why SHP and LNCR have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:
SangPharma Corp (NYSE: SHP - News) announced first-quarter profit of 16 cents per share on May 19 that missed analysts’ expectations by 23.81%. The Zacks Consensus Estimate for the current year slipped to 95 cents per share from $1.04 per share in the last 60 days as next year’s estimate dipped 9 cents per share to $1.10 per share in that time span.
Lincare Holdings Inc. (NasdaqGS: LNCR - News) posted a second-quarter profit of 45 cents per share on July 18, which came in 6 cents wider than the average forecast. The Zacks Consensus Estimate for the full year fell to $1.94 per share from $2.11 over the past month. For 2012, analysts expect a profit of $2.22 per share, compared to last month’s projection for a profit of $2.42 per share.
Here is a synopsis of why AEO and PBY have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;
American Eagle Outfitters (NYSE: AEO - News) first-quarter profit of 13 cents per share, posted on May 25, lagged analysts’ projections by 7.14%. Estimate for current year slid 1 cent per share to 95 cents per share over a month as next year’s estimate dipped 2 cents per share to $1.08 per share in that time span.
The Pep Boys- Manny, Moe & Jack (NYSE: PBY - News) reported a first-quarter profit of 23 cents per share on June 7 that fell 23.33% short of the Zacks Consensus Estimate. The full-year average forecast is currently 72 cents per share, compared with last month’s projection of 76 cents per share. Next year’s forecast dropped to 96 cents per share from $1.01 per share in the same period.
Truly taking advantage of the Zacks Rank requires the understanding of how it works. The free special report; “Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions is available to provide this insightful background. Download a free copy now to prosper in the years to come at http://at.zacks.com/?id=93
surf1944
13 years ago
ShangPharma Corporation Named a Top Ten Chinese Outsourcing Enterprise
Press Release Source: ShangPharma Corporation On Thursday June 16, 2011, 6:00 am EDT
SHANGHAI, June 16, 2011 /PRNewswire-Asia/ -- ShangPharma Corporation (NYSE:SHP - News) ("ShangPharma" or the "Company"), a leading China-based pharmaceutical and biotechnology research and development outsourcing company, today announced that it has been recognized by China's Ministry of Commerce as one of the Top Ten Leading Outsourcing Enterprises in China. The names of the top ten companies were announced at the Fourth Annual China International Service Outsourcing Cooperation Conference, held in Nanjing on June 9 and 10, 2011.
According to the Ministry of Commerce, revenue generated by Chinese outsourcing companies in 2010 rose 14.3% year-over-year to $3.51 billion. The top ten companies generated more than one half of that revenue, showing their strong leadership in the outsourcing services industry. They are mostly in the healthcare, IT, software & services, manufacturing, government, education and finance sectors. The top-10 ranking is based on gross revenue, offshore business revenue, number of employees and average revenue per employee. ShangPharma was one of the only two companies in healthcare sector.
"We are honored to receive this recognition by the Ministry of Commerce," said Mr. Michael Hui, Chairman and CEO of ShangPharma Corporation. "For nearly a decade, ShangPharma has provided a great platform in bridging pioneering global drug research and development trends with China's rich talent and innovative resources. We are proud to be a major player in the fast growing CRO industry in China, and we believe that we are rapidly growing into a world-class company in the pharmaceutical & healthcare industry. We are grateful to the Ministry of Commerce, Shanghai Municipal Commission of Commerce, and local commerce authorities for their generous support of ShangPharma and the outsourcing industry in general. With continued support, we plan to strengthen our service capabilities, develop talent, and build our operations. We are looking forward to further growth as we continue to serve our loyal base of customers globally."
About ShangPharma Corporation
ShangPharma Corporation is a leading China-based contract research organization providing high-quality and cost-effective services for the pharmaceutical and biotechnology industry. It offers a broad range of high-quality, integrated services across the drug discovery and development process to help international and Chinese pharmaceutical and biotechnology companies discover and develop novel drug candidates efficiently. ShangPharma's services consist of discovery chemistry, discovery biology and preclinical development, pharmaceutical development and biologics services. For more information, please visit www.shangpharma.com.
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Penny Roger$
12 years ago
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