On July 26, 2021 Novo Nordisk reported that initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour Rules") (Press release, Novo Nordisk, JUL 26, 2021, View Source [SID1234585188]). This programme is part of the overall share repurchase programme of up to DKK 18 billion to be executed during a 12-month period beginning 3 February 2021.

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Under the programme initiated 7 May 2021, Novo Nordisk will repurchase B shares for an amount up to DKK 3.3 billion in the period from 10 May 2021 to 3 August 2021.

With the transactions stated above, Novo Nordisk owns a total of 16,859,444 B shares of DKK 0.20 as treasury shares, corresponding to 0.7% of the share capital. The total amount of A and B shares in the company is 2,310,000,000 including treasury shares.

Novo Nordisk expects to repurchase B shares for an amount up to DKK 18 billion during a 12- month period beginning 3 February 2021. As of 23 July 2021, Novo Nordisk has since 3 February 2021 repurchased a total of 18,020,946 B shares at an average share price of DKK 471.09 per B share equal to a transaction value of DKK 8,489,468,031.

On July 26, 2021 Nuvo Pharmaceuticals Inc. (TSX:MRV; OTCQX:MRVFF) d/b/a Miravo Healthcare (Miravo or the Company), a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products, reported it expects to release its second quarter 2021 financial results before markets open on Monday, August 9, 2021 (Press release, Nuvo Pharmaceuticals, JUL 26, 2021, View Source [SID1234585187]).

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The Company will subsequently hold a conference call the same day, Monday, August 9, 2021 at 11:00 a.m. ET, hosted by Jesse Ledger, Miravo’s President & Chief Executive Officer and other senior management. A question-and-answer session will follow the corporate update.

On July 26, 2021 Xenetic Biosciences, Inc. (NASDAQ:XBIO) ("Xenetic" or the "Company"), a biopharmaceutical company focused on advancing XCART, a personalized CAR T platform technology engineered to target patient- and tumor-specific neoantigens, reported that it has entered into a definitive agreement with a single healthcare-focused institutional investor for the purchase of 4,629,630 shares of its common stock (or common stock equivalents) at a purchase price per share of $2.70, in a private placement priced at-the-market under Nasdaq rules. Additionally, Xenetic has also agreed to issue to the investor warrants to purchase up to 4,629,630 shares of common stock (Press release, Xenetic Biosciences, JUL 26, 2021, View Source [SID1234585186]). The warrants to purchase 4,629,630 shares of common stock have an exercise price of $3.30 per share, will be immediately exercisable and will expire three and one half years from the date the registration statement registering for resale the shares of common stock issuable upon exercise of the warrants is declared effective by the U.S. Securities and Exchange Commission. The closing of the offering is expected to occur on or about July 28, 2021, subject to the satisfaction of customary closing conditions.

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H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.

The gross proceeds to Xenetic, before deducting placement agent fees and other offering expenses, are expected to be approximately $12.5 million. The potential gross proceeds from the exercise of the warrants, if fully exercised on a cash basis, will be approximately $15.3 million. No assurance can be given that any of the warrants will be exercised. Xenetic intends to use the net proceeds from the offering for general working capital purposes.

The securities described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder, and the securities have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws. Pursuant to a registration rights agreement with the investor, the Company has agreed to file a resale registration statement covering the shares of common stock, common stock equivalents, and shares of common stock underlying the warrants described above within 30 days.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

On July 26, 2021 PerkinElmer, Inc. (NYSE: PKI), a global leader committed to innovating for a healthier world, reported financial results for the second quarter ended July 4, 2021 (Press release, PerkinElmer, JUL 26, 2021, View Source [SID1234585185]).

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The Company reported GAAP earnings per share from continuing operations of $2.19, as compared to GAAP earnings per share from continuing operations of $1.23 in the second quarter of 2020. GAAP revenue for the quarter was $1.228 billion, as compared to $812 million in the second quarter of 2020. GAAP operating income from continuing operations for the quarter was $332 million, as compared to $176 million for the same period a year ago. GAAP operating profit margin was 27.1% as a percentage of revenue, as compared to 21.6% in the second quarter of 2020.

Adjusted earnings per share from continuing operations for the quarter was $2.83, as compared to $1.57 in the second quarter of 2020. Adjusted revenue for the quarter was $1.229 billion, as compared to $812 million in the second quarter of 2020. Adjusted operating income from continuing operations for the quarter was $411 million, as compared to $228 million for the same period a year ago. Adjusted operating profit margin was 33.5% as a percentage of adjusted revenue, as compared to 28.1% in the second quarter of 2020.

Adjustments for the Company’s non-GAAP financial measures have been noted in the attached reconciliations.

"The organization continues to perform extremely well through the first half of 2021. Underpinned by the strategic pillars we highlighted at our recent Analyst Day and now the exciting addition of BioLegend, PerkinElmer is well positioned to execute on both our near- and long-term goals," said Prahlad Singh, president and chief executive officer of PerkinElmer. "The tremendous efforts by the more than 14,000 PerkinElmer employees across the globe have been instrumental in transforming the company into what it is today. I could not be more excited for what is to come in the years ahead."

Financial Overview by Reporting Segment for the Second Quarter

Discovery & Analytical Solutions

Second quarter 2021 revenue was $513 million, as compared to $391 million for the second quarter of 2020. Reported revenue increased 31% and organic revenue increased 22% as compared to the second quarter of 2020.
Second quarter 2021 operating income from continuing operations was $64 million, as compared to $39 million for the comparable prior period.
Second quarter 2021 adjusted operating income was $101 million, as compared to $57 million for the second quarter of 2020.
Diagnostics

Second quarter 2021 revenue was $716 million, as compared to $421 million for the second quarter of 2020. Reported revenue increased 70% and organic revenue increased 59% as compared to the second quarter of 2020.
Second quarter 2021 operating income from continuing operations was $286 million, as compared to $160 million for the comparable prior period.
Second quarter 2021 adjusted operating income was $328 million, as compared to $190 million for the second quarter of 2020.
Initiates Third Quarter Guidance and Raises Full Year 2021 Guidance

For the third quarter of 2021, the Company forecasts adjusted revenue of approximately $1.00 billion and adjusted earnings per share of $1.62.

For the full year of 2021, the Company now forecasts adjusted revenue of $4.57 billion and adjusted earnings per share of $9.88.

Guidance for the third quarter and full year is provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measures without unreasonable effort due to the unpredictability of the amounts and timing of events affecting the items the Company excludes from these non-GAAP measures. The timing and amounts of such events and items could be material to the Company’s results prepared in accordance with GAAP.

Announces Acquisition of BioLegend

The Company has also announced today that it has reached an agreement to acquire BioLegend, a leading manufacturer of innovative antibodies and research reagents for $5.25 billion. Please see today’s separate release for additional details on this transaction.

Conference Call Information

The Company will discuss its second quarter 2021 results, its outlook for business trends, and its acquisition of BioLegend in a conference call on July 26, 2021 at 8:00 a.m. Eastern Time. To access the call, please dial 720-405-2250 prior to the scheduled conference call time and provide the access code 9275741.

A live audio webcast of the call will be available on the Investors section of the Company’s website, www.perkinelmer.com. Please go to the site at least 15 minutes prior to the call in order to register, download, and install any necessary software. An archived version of the webcast will be posted on the Company’s website for a two-week period beginning approximately two hours after the call.

Use of Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings announcement also contains non-GAAP financial measures. The reasons that we use these measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are included below following our GAAP financial statements.

On July 26, 2021 PerkinElmer, Inc. (NYSE: PKI) ("PerkinElmer") reported it has entered into an agreement to acquire BioLegend, a leading, global provider of life science antibodies and reagents, for approximately $5.25 billion in a combination of cash and stock, subject to certain adjustments (Press release, PerkinElmer, JUL 26, 2021, View Source [SID1234585178]).

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BioLegend provides its academic and biopharmaceutical customers with best-in-class antibodies and reagents in high-growth areas such as cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing. The transaction will be the largest in PerkinElmer’s history and is expected to close by the end of the 2021 calendar year, subject to regulatory approvals and other customary closing conditions.

Privately-held BioLegend has more than 700 employees based primarily in the U.S., with estimated 2022 revenues of $380 million. Upon joining PerkinElmer, BioLegend will expand PerkinElmer’s existing life science franchise into new segments, and its state-of-the-art campus in San Diego, California will become PerkinElmer’s global Center of Excellence (CoE) for research reagent content development for the combined company.

Commenting on the agreement to acquire BioLegend, Prahlad Singh, president and chief executive officer of PerkinElmer, said: "We are thrilled to have the opportunity to bring our technologies and innovative cultures together to create seamless solutions to push science and discovery forward. We believe joining our teams presents an incredible opportunity to accelerate discoveries that help life science researchers leverage ever-developing technologies and novel approaches to better understand and fight disease."

Gene Lay, founder, president and chief executive officer of BioLegend, added, "We are very excited to join the PerkinElmer family. The combination will afford us the opportunity to continue to build on our two-decade foundation of innovative science and scale in new and highly attractive PerkinElmer areas such as clinical diagnostics and food safety testing. The BioLegend team is eager to enter this new chapter with PerkinElmer, furthering our mission of enabling legendary discovery from research to cure."

Strategic Alignment of Deal Structure Expected to Lead to Faster Growth and Elevated Margins

PerkinElmer has fully committed bridge financing from Goldman Sachs Bank USA in place for the cash portion of the agreed upon purchase price. The combination is expected to be accretive to PerkinElmer’s existing revenue growth and margin profile and provide an estimated $0.30 of adjusted earnings per share accretion in the first full year following close and greater than $0.50 in the second year following close. The combined company will generate immediate revenue synergies which are expected to reach $100 million annually by the fifth year following the transaction close and no significant cost synergies are planned.

Advisors

Goldman Sachs & Co. LLC, Inc., is serving as exclusive financial advisor to PerkinElmer, with WilmerHale serving as legal counsel and McDermott Will & Emery serving as antitrust counsel. J.P. Morgan Securities LLC is serving as exclusive financial advisor to BioLegend with Pillsbury Winthrop Shaw Pittman LLP serving as legal counsel.

Conference Call and Webcast

PerkinElmer will discuss its second quarter 2021 results (as released separately), its outlook for business trends, and its acquisition of BioLegend in a conference call on July 26, 2021 at 8:00 a.m. Eastern Time. To access the call, please dial 720-405-2250 prior to the scheduled conference call time and provide the access code 9275741. The webcast and accompanying slides can be found on the investors section of www.perkinelmer.com. An audio archive of the call will be available in that section of the website until August 9, 2021.