Pharmacia shares tumble
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.SHARES IN Pharmacia & Upjohn, the Swedish-US drug group, tumbled 6 per cent yesterday after the Stockholm government announced the sale of its stake in the group.
Dealers said that the fall in the price was sparked by fears that the disposal would flood the market with P&U's shares. The long-awaited disposal of the state's 7 per cent holding, valued at around $2bn, marks the final privatisation of P&U, formed in 1995 from the merger of Sweden's Pharmacia and Upjohn of the US.
Lars Rekke, the Swedish trade and industry secretary, said that it was "the appropriate time" to sell the shares. The stock has risen 20 per cent over the past six months.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments