IN BRIEF: Investment manager completes sale of BioPharma Credit shares

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

BioPharma Credit PLC - life sciences debt investment trust - Pablo Legorreta, co-founder of Pharmakon Advisors, the company's investment manager, completes sale of 55.0 million shares in BioPharma, a 4.0% stake. The disposal, run by JP Morgan Cazenove, was at $0.97 per share, so worth $53.4 million. Legorreta, who also is founder & chief executive officer of Royalty Pharma, retains 21.7 million shares, a 1.6% stake. BioPharma Credit receives no proceeds, as the sale is of existing shares.

Current stock price: $0.99, down 1.8% on Thursday

12-month change: up 1.2%

Copyright 2022 Alliance News Limited. All Rights Reserved.