BioCentury
ARTICLE | Finance

Selling on deals

October 5, 1998 7:00 AM UTC

QTH had been interested in accessing Andaris' microparticle technology but discovered that Gist-brocades, which owned 70 percent of Andaris' stock, wanted to exit. Although Gist-brocades was looking for cash, QTH is offering 16.8 million shares to Andaris shareholders. Nomura has underwritten a deal that will provide the Dutch pharma company with a guaranteed exit from QTH.

London investors knocked the stock down to 59p from 85.5p, leaving a market cap of £26 million (US$44 million)...