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Bentley Pharmaceuticals (BNT) Completes Spin-off of Drug Delivery Business


7/1/2008 10:35:23 AM

EXETER, N.H.--(BUSINESS WIRE)--Bentley Pharmaceuticals, Inc. (NYSE: BNT) completed the previously announced taxable spin-off of its drug delivery business, CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX) yesterday at 11:59 p.m. Each Bentley stockholder received, on a pro rata basis, a dividend on Bentley common stock of one CPEX share for every 10 shares of Bentley common stock they owned as of the close of business on June 20, 2008, the record date for stockholders entitled to receive the distribution of CPEX shares.

Read at BioSpace.com

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