UCB to squeeze out Schwarz Pharma shares

UCB has asked Schwarz Pharma to consider transferring the remainder of its stock capital by way of a “squeeze-out”.

This procedure will see the 0.4 per cent of shares not held by UCB moved for cash compensation, which has been set at 111.44 euros (99.92 pounds) per share.

The total amounts to the volume-weighted average measured over the quarter prior to February 6th for Schwarz Pharma’s stock market price.

July 8th will see Schwarz Pharma’s annual general meeting take place and the squeeze-out resolution will be considered then.

Last month saw UCB publish its interim report for the first quarter of 2009.

It highlighted on-track product launches and earnings in line with expectations, although reduced revenue was also noted.

The company said it was preparing to launch Vimpat for epilepsy in various European countries and the US, as well as Cimzia for rheumatoid arthritis and Neupro for Parkinson’s disease and restless legs syndrome.