Stock Market News: Sanofi Shifts to Nasdaq and Takeda Lists on the NYSE
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Paris-based Sanofi announced it was transferring its listing of American Depositary Shares (ADS) from the New York Stock Exchange (NYSE) to The Nasdaq Global Select Market starting end-of-day December 31, 2018. They will start trading on January 2, 2019.
The company will also continue to trade on Euronext.
Jean-Baptiste Chaseloup de Chatillon, executive vice president and chief financial officer of Sanofi, stated, “This partnership with Nasdaq is a natural transition for Sanofi as it provides greater cost-efficiencies as well as access to a broad-based portfolio of investor relations tools to enhance both market insights and our interaction with the financial community. I want to thank the NYSE which was our listing partner in the U.S. for many years.”
The company also announced today that its Dengvaxia vaccines for dengue fever was approved by the European Commission. The vaccine received a positive recommendation from the European Medicines Agency (EMA)’s Committee for Medicinal Products for Human Use (CHMP) on October 18.
Dengue fever infects as many as 400 million people annually, according to the U.S. Centers for Disease Control and Prevention (CDC). It is the leading cause of illness and death in the tropics and subtropics. The virus is transmitted by mosquitos. The most common symptoms are high fever, severe headache, severe pain behind the eyes, joint pain, muscle and bone pain, rash, and mild bleeding from the nose or gums. At its worse, the disease can lead to failure of the circulatory system and shock, followed by death.
Dengue is caused by four closely related flaviviruses, Dengue viruses 1, 2, 3 and 4. Getting the disease from one does not necessarily provide immune protection from infection by one of the others. And, a secondary infection is generally linked to greater severity of disease.
“In some of the European territories where dengue recurs regularly, people who have had a dengue infection previously are at risk of being infected with the virus again,” stated Su-Peing Ng, Global Medical Head at Sanofi Pasteur. “As the second infection with dengue tends to be more severe than the first, it is important to be able to offer these people a vaccine that could help protect them against subsequent dengue infections.”
Also, in stock exchange news, Osaka, Japan-based Takeda Pharmaceutical announced that its listing and trading of its ADS on the New York Stock Exchange will start on December 24, 2018. The company’s ADSs currently trade over-the-counter. They will now trade under the ticker symbol “TAK.”
Takeda will keep its headquarters in Japan. Its primary listings on the Tokyo Stock Exchange (TSE) will also remain.
“Our dual listing on the NYSE and TSE reflects our position as a leading global biopharmaceutical company and will provide wider capital markets access with expanded trading hours for our investors worldwide,” stated Costa Saroukos, Takeda’s chief financial officer. “We look forward to closing our acquisition of Shire in the coming weeks and driving long-term value for our shareholders as a combined company.”
At this time, Takeda is the only pharmaceutical company listed on both the TSE and the NYSE. This new listing on the NYSE will facilitate ownership of Takeda shares after the Shire acquisition closes, which is expected on January 8, 2019.
Shire shareholders are entitled to receive $30.33 in cash and either 0.839 new Takeda shares or 1.678 Takeda ADSs for each Shire share they hold.