Benzinga’s News Roundup (PEP, ALKS, MRK)
March 15, 2010 8:37 AM
PepsiCo, Inc. (NYSE: PEP) reported today that it will raise its dividend by 7% to $1.92 a share annually, and also announced plans to buy back up to $15 billion of common shares through June 2013. PepsiCo increased 1.21% to $65.89 in the pre-market session. The 52-week trading range for PEP is $47.50 - $65.25. PEP has increased 10% in the last six months.
Alkermes, Inc. (Nasdaq: ALKS), Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) and Eli Lilly and Company (NYSE: LLY) announced today that the U.S. Food and Drug Administration has issued a complete response letter regarding the New Drug Application (NDA) for BYDUREON™ (exenatide for extended-release injectable suspension). Alkermes increased 14.25% to $13.95 in the pre-market session. The 52-week trading range for ALKS is $7.41 - $13.42. ALKS closed at $12.21 in the last trading session.
Merck & Co., Inc. (NYSE: MRK) and Portola Pharmaceuticals announced the results of EXPLORE-Xa, a Phase 2 exploratory, dose finding study of betrixaban, an investigational oral direct Factor Xa inhibitor. The 52-week trading range for MRK is $31.25 - $41.56. In the last six months, MRK has gained over 13%.
