Home / Business / Short Call at News Buzzer: Marsh & McLennan (NYSE:MMC), Merrimack Pharmaceuticals (NASDAQ:MACK)

Short Call at News Buzzer: Marsh & McLennan (NYSE:MMC), Merrimack Pharmaceuticals (NASDAQ:MACK)

Marsh & McLennan Companies, Inc. (NYSE:MMC) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 0.03% to close at $67.82 with the total traded volume of 188069 shares. Marsh & McLennan Companies, Inc. ((MMC) reported that it has priced $500 million of 2.750% senior notes due 2022 and $500 million of 4.350% senior notes due 2047.

The Company intends to use the net proceeds for general corporate purposes. The closing of the Notes offering is expected to occur on January 12, 2017, subject to certain customary conditions. Merrill Lynch, Pierce, Fenner& Smith Incorporated, Deutsche Bank Securities Inc., ANZ Securities, Inc. and U.S. Bancorp Investments, Inc. are acting as joint book-running managers for the 2022 Notes offering.

Merrill Lynch, Pierce, Fenner& Smith Incorporated, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the 2047 Notes offering. BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Scotia Capital (USA) Inc. and The Williams Capital Group, L.P. are acting as co-managers for the 2022 Notes offering and GC Securities, a division of MMC Securities LLC, MUFG Securities Americas Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC are acting as co-managers for the 2047 Notes offering. The firm has institutional ownership of 85.40%, while insider ownership included 0.10%. Its price to sales ratio ended at 2.66. MMC attains analyst recommendation of 2.20 with week performance of 0.31%.

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) [Trend Analysis] moved down reacts as active mover, shares a decrease -5.45% to traded at $3.47 and the percentage gap between open changing to regular change was -3.27%. Merrimack Pharmaceuticals Inc. (MACK) reported that it has agreed to sell Oncology Assets to French specialty-driven biotechnological company Ipsen S.A. (IPSEY) for $1.025 billion, plus up to $33 million in net milestone payments retained by Merrimack’s exclusive licensing contract with Shire.

The transaction, which is expected to be completed in the first quarter of 2017. Under terms, Ipsen will gain commercialization rights for ONIVYDE indications in the U.S., as well as the current licensing contracts with Shire for commercialization rights ex-U.S. and PharmaEngine for Taiwan.

The transaction also includes Merrimack’s commercial and manufacturing infrastructure, and generic doxorubicin HCl liposome injection. The firm’s current ratio calculated as 1.00 for the most recent quarter. The firm past twelve months price to sales ratio was 4.80 and price to cash ratio remained 10.35. As far as the returns are concern, the return on equity was recorded as 80.60%, while its return on asset stayed at -96%.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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