Investing.com -- Here is a summary of the most important regulatory news releases from the London Stock Exchange on Friday, 20th December. Please refresh for updates.
- Royal Dutch Shell (LON:RDSa) said it expected impairment charges of up to $2.3 billion in the current quarter, due to well write-offs and decommissioning costs, among other things.
- It trimmed its overall output forecast to 6.5 million barrels of oil equivalent a day but said oil output will be in a range between 2.775 million and 2.825 million barrels a day. The midpoint of that range is the very top end of the range it had forecast three months ago.
- However, it said it expected between $100-$200 million in well write-offs and the same amount in other decommissioning costs to hit its fourth-quarter report. It also shaved its forecast for refinery availability to a range around 89.5% from a a midpoint of 92% previously.
- It reiterated that full-year capital expenditure will be at the lower end of its $24 to $29 billion range.
- AstraZeneca (LON:AZN) said it will sell the commercial rights to its breast and prostate cancer drugs Arimidex (anastrozole) and Casodex (bicalutamide) in a number of European, African and other countries1 to Juvisé Pharmaceuticals, for an up-front payment of $181 million.
- Juvise will pay up to an additional $17 million contingent on future sales of the drugs, which have lost their patent protection.
- “Today's agreement is part of a broader strategy of reducing our portfolio of mature medicines to reallocate resources towards developing our pipeline of new medicines," said oncology head Dave Fredrickson.