Thursday market watch

Immunex (IMNX) and Sepracor (SEPR) were down $6.438 (12 percent) to $47 and $11.625 (11 percent) to $94.50, respectively, on Thursday. On Wednesday, IMNX announced the filing of a shelf registration covering the planned sale of up to 20 million newly issued shares, valued at up to $1.1 billion using IMNX's Wednesday close of $53.438, plus the planned sale of 50 million IMNX shares owned by majority shareholder American Home Products (AHP) (see BioCentury Extra, Wednesday Aug. 9). IMNX said that the deal marks an evolution in its relationship with AHP from that of a majority-owned entity to a business partner. ...