signed a deal to build a $330 million world-class biologics manufacturing facility.
Regular readers will recall that Merck rode along, as "shotgun" -- in the IPO of BeiGene, in February 2016. During the ensuing year, Merck has seen its overall percentage ownership of the company decline, as it lightened up, in an orderly fashion -- even as the per share price marched pretty much steadily northward. It went out at $28.62, about thirteen months ago -- and now sits at just a few pennies shy of $40. Sweet.
So -- Merck still holds about 6 per cent of BeiGene -- and that is a nice, solid, liquid cash trove -- on tap, for other international projects as they arise. In the mean time, it is a pretty safe place to store a 40-something per cent capital gain, in just over a year. As I say, very sweet. [Off the grid this afternoon, making a pro bono federal court appearance, related to the latest ACLU efforts against Agent Orange, here.]