Eyetech Board Adopts 'Poison Pill'

Biopharmaceutical company Eyetech Pharmaceuticals Inc. said that its board adopted a shareholder rights plan, or "poison pill," with a 15 percent trigger. The company said adoption of the plan was not in response to any proposed takeover. In the event of any party acquiring 15 percent or more of the company's stock, other shareholders will be allowed a dividend in the form of one right for each share they own to purchase a fraction of preferred shares.

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