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HGS Gains Cash with Facilities Transactions

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Human Genome Sciences, Inc. (HGS) has signed a $425 million definitive agreement with BioMed Realty Trust, Inc. for the sale/leaseback of its large-scale manufacturing facility and for a new lease for its headquarters office and laboratories facility. The transactions are expected to add approximately $380 million in available cash for HGS operations, including $220 million in new cash and $160 million in cash that will be freed up by elimination of the cash restriction associated with the previ...

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