SciClone denies seeking Alpha 1SciClone Pharmaceuticals...

BUSINESS DIGEST

May 12, 1994

SciClone denies seeking Alpha 1

SciClone Pharmaceuticals Inc. says it is not interested in buying partner Alpha 1 Biomedicals Inc., after the two companies reached terms to settle their yearlong dispute over a hepatitis drug.

While SciClone owns 15.8 percent of Bethesda-based Alpha 1 and plans to increase its stake to 20 percent percent, it said it has no plans for a takeover bid. Alpha 1 licensed its hepatitis-B drug to SciClone, and the two are working to bring the drug to market.

"The reason we took the stake was to ensure Alpha 1's management was responsive to the development of the drug," said Mark Culhane, SciClone's director of finance.

Under the settlement terms announced this week, Alpha 1 would give SciClone full rights to the drug Thymosin Alpha 1 in exchange for shares in the San Mateo, Calif.-based drugmaker.

Aegon parent reports 13% gain

Aegon NV, the Dutch parent company of Baltimore-based Aegon USA Inc., said its first-quarter net profit rose 13.2 percent, to 260.3 million guilders ($139 million).

Revenue rose 3.1 percent, to 5.09 billion guilders ($2.8 billion), largely due to a 46.4 percent increase in premium income. That increase came mainly from the acquisition of Scottish Equitable Life Assurance.

Aegon USA said both earnings and revenue increased.

Manor Care acquires Va. facility

Manor Care Inc. said it completed the acquisition of Imperial Nursing Center, a 128-bed nursing center in Richmond, Va., for an undisclosed amount.

Manor Care operates 164 health care facilities with more than 22,000 beds in 28 states. The Silver Spring-based company also owns and operates more than 3,100 hotels with more than 278,000 rooms.

Town & Country buys Va. complex

Town & Country Trust said it bought a 408-unit apartment complex in Manassas, Va., for $24 million. The 7-year-old property is 98 percent occupied, Town & Country said.

Since it went public in August, the Baltimore-based real estate company has bought nine apartment properties containing a total of 2,713 units, increasing the size of its portfolio by 25 percent.

Columbia Real Estate dividend

Columbia Real Estate Investments Inc. said it will pay shareholders a special dividend of $10.15 a share as part of its plans to liquidate the company.

Columbia Real Estate didn't say when it will pay the special dividend.

In addition, the Columbia-based company said it expects to make a separate special dividend distribution of between 15 cents and 35 cents a share later this year.

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