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May 8, 2008

Novartis Raises Ownership in Alnylam with $5.41M Procurement of Shares

  • Novartis has purchased additional shares of Alnylam Pharmaceuticals’ common stock for almost $5.41 million. The decision to fully exercise this right increases Novartis’ stake in Alnylam from 13% to 13.4%.

    As per the terms of a September 2005 investor rights agreement between the companies, Novartis decided to buy  213,888 unregistered shares of Alnylam’s common stock. The firm is paying $25.29 per share. Alnylam value at the end of yesterday was $24.84 and opened trading today at $25.51.

    Novartis previously purchased approximately 5.3 million shares at $11.11 per share, gaining a 13% ownership position. The company is permitted to own no more than 19.9% of Alnylam’s outstanding shares.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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