Nycomed Amersham biotech flotation depresses share price
This article was originally published in Clinica
Executive Summary
Nycomed Amersham shares fell back last week on the news that it planned to float 10% of the 55% stake it has in Amersham Pharmacia Biotech on the US Nasdaq exchange. The move, which will value APB at an estimated $4 - $6 billion, does not signal that Nycomed wishes to relinquish control of the floated company. Its partner, Pharmacia & Upjohn, is temporarily prevented from matching Nycomed's partial flotation, due to US SEC rules following its acquisition of Monsanto.