Noting that Dr. Rutter would take a seat on Ciba-Geigy's board, Mr. Mehta said the deal was much closer to a partnership of equals than the companies' relative sizes would indicate. In addition, Chiron will issue Ciba-Geigy 6.6 million new shares in exchange for Ciba's worldwide Ciba Corning Diagnostics business and its 50 percent interest in the Biocine Company and Biocine S.p.A. Chiron, at its option, may issue to Ciba-Geigy up to $500 million of new equity, and Ciba-Geigy has also agreed to guarantee $425 million of new debt for Chiron, subject to certain conditions. Restaurant workers fear safety as indoor dining reopens. Ciba-Geigy has been a small shareholder in Chiron since the company went public in 1983 and currently holds 1.6 million shares. Chiron is one of the manufacturers trying to sidestep the process of producing flu vaccines in live chicken eggs, an arduous and time-consuming method that makes it hard to adapt vaccines quickly as flu viruses mutate into different strains. Copyright © 2020 MarketWatch, Inc. All rights reserved. But Chiron shares have fallen in recent months, amid a general decline for biotechnology stocks and concern about a forthcoming rival to its drug for multiple sclerosis. All quotes are in local exchange time. Contact us, vertexpharmaceuticalsinc.htm - Generated by SEC Publisher for SEC Filing SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No. This browser is no longer supported at MarketWatch. Today's Research Daily features new research reports on 16 major stocks, including Southern Company (SO), Applied Materials (AMAT) and Vertex Pharmaceuticals (VRTX). Listen up, these are the best headphone deals of Prime Day, This True HEPA Air Filter with Echo Dot is just $79.99. Intraday data delayed at least 15 minutes or per exchange requirements. HSGX Chiron is still looking for a new CEO. - vertexpharmaceuticalsinc.htm - Generated by SEC Publisher for SEC Filing SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No. The deal is expected to close by the end of the year. In 2014, N… Historical and current end-of-day data provided by FACTSET. The overhauled plant is now back in production, but its output of the vaccine Fluvirin for this year is still limited. Chiron spokesman David Weiskopf said it's too early to know whether Emeryville would remain the unit's headquarters, or whether any of Chiron's 5,400 employees would be laid off. Answers to your online banking questions, Resort owner, baker, independent filmmaker: Entrepreneurs flip the switch on the pandemic, Podcast: Goldman Sachs Nearly Doubles Earnings, Fading stimulus hopes and new French restrictions topple European stocks. We do our best to track continuity of investments through acquisitions, and this will be reflected in Company profile page for Chiron Pharmaceuticals Ltd including stock price, company news, press releases, executives, board members, and contact information "Our plan is to turn around the Chiron vaccines business, which will require investments in R&D and manufacturing to increase quality and capacity," Vasella said. 7018 VRTX Why the world's prettiest Taco Bell staffed up for... San Francisco's beloved Roxie Food Center has... See how an MBA could change your life with SFGATE's interactive directory of Bay Area programs. Answers to your online banking questions, Resort owner, baker, independent filmmaker: Entrepreneurs flip the switch on the pandemic, Podcast: Goldman Sachs Nearly Doubles Earnings, Fading stimulus hopes and new French restrictions topple European stocks. Intraday Data provided by FACTSET and subject to terms of use.

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