Nomura searches bargain basement

Nomura searches bargain basement

OXFORD - Nomura International plc looks like it is trying to save the U.K. biotech sector's cash-strapped companies single-handedly. Last week, Cortecs plc (LSE:CCS, Isleworth, U.K.) shares more than doubled from 13.75p to 28.5p as it emerged that Nomura had acquired 10 million shares of the drug delivery company - a 6.29 percent stake - for about £2 million. Nomura now has acquired equity positions in a number of U.K. biotech companies (see link above.) and holds stocks worth some £30 million (US$49 million) at the close of trading last Friday...