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Article: AHP and Immunex Take Actions to Support Continued Growth of Immunex.

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PR Newswire
Article date:
August 9, 2000
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MADISON, N.J. and SEATTLE, Aug. 9 /PRNewswire/ --

American Home Products Corporation (NYSE: AHP) and Immunex Corporation (Nasdaq: IMNX) today announced a number of actions that have been taken by the two companies. These actions will support Immunex in executing its long-term growth strategy and are intended to enable AHP to monetize a portion of its highly successful investment in the biotech company while continuing to be a major participant in the future development and growth of Immunex.

Immunex today has filed a shelf registration statement that would allow Immunex to sell up to 20 million shares of newly-issued Immunex common stock in a primary ...

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