Elan Corporation, plc (ADR) (NYSE:ELN) – Today’s First Hour Top Percentage Mover.
Elan Corporation, plc (ADR) (NYSE:ELN) – Johnson & Johnson pays $1B for Elan stake
(EMAILWIRE.COM, July 02, 2009 ) New York, NY - Penny Stock Pick Alert is pleased to alert investors of stocks on the move.
Johnson & Johnson (NYSE: JNJ) and Elan Corporation plc today announced a definitive agreement whereby Johnson & Johnson will acquire substantially all of the assets and rights of Elan related to its Alzheimer's Immunotherapy Program (AIP Program), through a newly formed company. In addition, Johnson & Johnson, through its affiliate, will invest $1 billion in Elan in exchange for newly issued American Depositary Receipts (ADRs) of Elan which will represent 18.4% of Elan's outstanding ordinary shares.
After touching an intraday high of $8.34 in an opening trade, the Stock is currently trading at $8.12 moved up over 16% on very unusual volume of over 19 million shares. In the last 52-week, the stock has been trading within a range of $37.45-$4.85.
About Elan Corporation, plc
Elan Corporation, plc (Elan) is a neuroscience-based biotechnology company. Its principal research and development, manufacturing and marketing facilities are located in Ireland and the United States. Elan’s operations are organized into two business units: Biopharmaceuticals and Elan Drug Technologies (EDT). Biopharmaceuticals engages in research, development and commercial activities primarily in neuroscience, autoimmune and severe chronic pain. EDT focuses on the specialty pharmaceutical industry, including specialized drug delivery and manufacturing.
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PennyStockPickAlert is an independent electronic publication that provides information on selected publicly traded companies. PennyStockPickAlert.com is not a registered investment advisor or broker-dealer. PennyStockPickAlert affiliates, officers, directors and employees may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above.
Johnson & Johnson (NYSE: JNJ) and Elan Corporation plc today announced a definitive agreement whereby Johnson & Johnson will acquire substantially all of the assets and rights of Elan related to its Alzheimer's Immunotherapy Program (AIP Program), through a newly formed company. In addition, Johnson & Johnson, through its affiliate, will invest $1 billion in Elan in exchange for newly issued American Depositary Receipts (ADRs) of Elan which will represent 18.4% of Elan's outstanding ordinary shares.
After touching an intraday high of $8.34 in an opening trade, the Stock is currently trading at $8.12 moved up over 16% on very unusual volume of over 19 million shares. In the last 52-week, the stock has been trading within a range of $37.45-$4.85.
About Elan Corporation, plc
Elan Corporation, plc (Elan) is a neuroscience-based biotechnology company. Its principal research and development, manufacturing and marketing facilities are located in Ireland and the United States. Elan’s operations are organized into two business units: Biopharmaceuticals and Elan Drug Technologies (EDT). Biopharmaceuticals engages in research, development and commercial activities primarily in neuroscience, autoimmune and severe chronic pain. EDT focuses on the specialty pharmaceutical industry, including specialized drug delivery and manufacturing.
PennyStockPickAlert.com alerts its members on stocks that could generate higher than average returns. These include stocks with huge volume, penny stocks that are moving to the upside quickly, penny stocks with buy signals and companies with news. Our alerts are well known for producing incredible results in a short amount of time and our members have made outstanding profits of over 100%. We encourage investors to join our FREE e-mail alerts by visiting Penny Stock Pick Alert
ABOUT Penny Stock Pick Alert
PennyStockPickAlert.com is a leading stock web site that provides free alerts on stocks that are poised to make big gains. PennyStockPickAlert also tracks small cap penny stocks that could be on the brink of a massive breakout. To feature a company on our web site please contact us at info@PennyStockPickAlert.com
PennyStockPickAlert is an independent electronic publication that provides information on selected publicly traded companies. PennyStockPickAlert.com is not a registered investment advisor or broker-dealer. PennyStockPickAlert affiliates, officers, directors and employees may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above.
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Email us
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