Electric Transmission Texas LLC (ETT), a transmission utility jointly owned by subsidiaries of $AEP and Berkshire Hathaway Energy, said it appointed Kip Fox as president. Fox will report to Wade Smith, SVP, Grid Development at $AEP. Fox replaces Calvin Crowder who left ETT in May
$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%.
$PRGO agreed to divest its rights to the royalty stream from the global net sales of the multiple sclerosis drug Tysabri (natalizumab) to RPI Finance Trust, an affiliate of Royalty Pharma. This transaction is valued at a total consideration of up to $2.85Bil. This transaction is expected to close within 30 business days.
Software and e-commerce services supplier $EBIX reported 12% increase in its 4Q16 earnings to $24.6MM, compared to $21.9MM during 4Q15. Diluted EPS rose 17% YoY to $0.76 from $0.65 in 4Q15. Revenues rose 14% YoY $80MM.