Shares of Zoetis Inc (NYSE:ZTS) ended Friday session in red amid volatile trading. The shares closed down -0.12 points or -0.23% at $51.51 with 2.56 million shares getting traded. Post opening the session at $51.63, the shares hit an intraday low of $51.33 and an intraday high of $51.77 and the price vacillated in this range throughout the day. The company has a market cap of $25.72 billion and the numbers of outstanding shares have been calculated to be 495.39 million shares.
Zoetis Inc (ZTS) on August 22, 2016 announced that Glenn David, Senior Vice President of Finance Operations, has been named Executive Vice President and Chief Financial Officer (CFO), and will assume responsibility for the oversight of the company’s financial management, planning and global operations, effective immediately. As CFO, David will report directly to Chief Executive Officer Juan Ramón Alaix and become part of the Zoetis Executive Team. David will succeed Executive Vice President and Chief Financial Officer Paul Herendeen, who has resigned effective August 18, 2016, to accept the position of CFO at another public company.
“Glenn has been an accomplished financial and strategic leader for Zoetis and a trusted partner to me and the entire executive team since our IPO,” said Chief Executive Officer Juan Ramón Alaix. “Glenn’s strong financial acumen, deep understanding of our company’s business operations and ability to partner with our business leaders to improve overall company performance, make him the clear successor for this important position. With this natural transition of executive responsibility to such a high caliber executive, the Board and I are confident we have ensured continued focus on delivering shareholder value.”
“We thank Paul for his contributions to our company over the past two years. Paul leaves Zoetis a stronger company, better positioned with investors and set to deliver long-term, sustainable shareholder value,” said Alaix.
Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) ended Friday session in green amid volatile trading. The shares closed up +0.19 points or 1.14% at $16.81 with 2.48 million shares getting traded. Post opening the session at $16.89, the shares hit an intraday low of $16.20 and an intraday high of $17.23 and the price vacillated in this range throughout the day. The company has a market cap of $735.93 million and the numbers of outstanding shares have been calculated to be 43.28 million shares.
Vanda Pharmaceuticals Inc. (VNDA) on Aug. 30, 2016 announced that the United States Patent and Trademark Office (USPTO) Patent Trials and Appeal Board declined the request by Roxane Laboratories, Inc. (Roxane) to institute an inter partes review of U.S. Patent No. 9,138,432 (“the ‘432 patent”). The ‘432 patent was issued by the USPTO in September 2015 and expires in September 2025.
Vanda had previously announced on August 25, 2016 that Judge Gregory M. Sleet of the United States District Court for the District of Delaware ruled that Roxane infringed U.S. Patent Nos. RE39,198 (“the ‘198 Patent”) and 8,586,610 (“the ‘610 Patent”) and accordingly issued an injunction barring Roxane from marketing its product until the expiration of the later expiring ‘610 patent on November 2, 2027.