Shares of Pfizer Inc. (NYSE:PFE) [Trend Analysis] runs in leading trade, it moving up 2.46% to traded at $31.70. The firm has price volatility of 1.81% for a week and 1.90% for a month. Its beta stands at 0.89 times. Pfizer (PFE) declared that it fined £85 million for 2600% drug price increase to NHS. The Competition and Markets Authority has imposed a record £84.2 million fine on the pharmaceutical manufacturer Pfizer, and a £5.2 million fine on the distributor Flynn Pharma after finding that each broke competition law by charging excessive and unfair prices in the UK for phenytoin sodium capsules, an anti-epilepsy drug.
The fines follow prices increasing by up to 2,600% overnight after the drug was deliberately de-branded in September 2012. For example, the amount the NHS was charged for 100mg packs of the drug rocketed from £2.83 to £67.50, before reducing to £54.00 from May 2014. As a result of the price increases, NHS expenditure on phenytoin sodium capsules surged from about £2 million a year in 2012 to about £50 million in 2013. Narrow down four to firm performance, its weekly performance was 0.22% and monthly performance was -1.31%. The stock price of PFE is moving down from its 20 days moving average with -0.29% and isolated negatively from 50 days moving average with -0.77%.
Several matter pinch shares of Marathon Patent Group, Inc. (NASDAQ:MARA) [Trend Analysis], as shares moving down -8.33% to $1.54 with a share volume of 507027. Marathon Patent Group, Inc. (NASDAQ:MARA) revealed that it has entered into definitive contracts with investors for the purchase and sale of 3,481,997 shares of common stock at a price of $1.50 per share and warrants to purchase up to 1,740,999 shares of common stock at an effective price of $0.01 per warrant with an exercise price of $1.70 per share. The warrants will expire five years from the date of issuance.
Northland Capital Markets is acting as the exclusive placement agent for the registered direct offering and concurrent private placement. The closing of the registered direct offering and the concurrent private placement is expected to take place on or about December 14, 2016, subject to the satisfaction of customary closing conditions. The gross proceeds of the offering, before fees and expenses, will be approximately $5.2 million. The Company intends to use the net proceeds for working capital and other general corporate purposes, including the acquisition of certain patent portfolios. The stock is going forward its 52-week low with 19.38% and moving down from its 52-week high price with -55.23%. To have technical analysis views, liquidity ratio of a company was calculated 0.10 as evaluated with its debt to equity ratio of 1.51. The float short ratio was 0.25%, as compared to sentiment indicator; Short Ratio was 0.64.