$OMC said Michael Schreiber will serve as DDB Health's US Executive Creative Director,and Nicole Johnson will serve as Managing Director for DDB Health's San Francisco office. Gareth Evans will serve as CEO of Synergy UK, and Barbara Mische as President, Synergy US.
$PRGO agreed to divest Tysabri royalty stream. Royalty Pharma will buy all of $PRGO's rights to receive Tysabri royalty payments from and after Jan. 1, 2017, which $PRGO has under agreement with $BIIB. Tysabri is FDA approved treatment for multiple sclerosis. $PRGO acquired Tysabri royalty stream rights through 2013 acquisition of Elan Corp. plc.
$PRGO agreed to divest Tysabri royalty stream for up to $2.85Bil. The consideration composed of $2.2Bil in cash at closing and up to $650MM in potential milestone payments based upon future global net sales of Tysabri in 2018 and 2020.
Offshore drilling company $ESV reported 4Q16 net income of $39MM, or $0.13 per share, compared to net loss of $2.47Bil, or $10.64 per share during 4Q15. Revenues declined 39% YoY to $505MM, mainly due to decline in reported utilization to 51%.