Friday, November 28, 2014
Inquirer Daily News

Archive: October, 2011

POSTED: Monday, October 31, 2011, 11:00 AM
Filed Under: Pharma, Biotech

Endo Pharmaceuticals Holdings Inc. will move its corporate headquarters to Malvern from its current location in Chadds Ford by December 2012.

The company plans to move its 500 local employees into a build-to-suit building being developed by Trammell Crow at the Atwater Corporate Center in East Whiteland Township, Chester County, according to an Endo spokesman.

The project would replace the four buildings in Chadds Ford in which Endo leases about 185,000 square feet of space.

POSTED: Monday, October 31, 2011, 8:35 AM

Someone's wrong about the direction of the economy.

A number of professional forecasters waved the recession warning flag earlier in October. They saw decelerating trends in several of the economic indicators. However, as the month wore on, a number of reports suggested that the U.S. economy -- while far from robust -- was bumping along showing modest growth.

We'll get more fuel for that debate this week. The Federal Open Market Committee meets for two days, starting Tuesday. Fed chairman Ben Bernanke will hold a press conference on Wednesday afternoon after the central bank releases its latest thinking on the economy and interest rates.

POSTED: Friday, October 28, 2011, 6:16 PM
Filed Under: Technology

Even if just for a few hours, it was nice to be in a darkened room surrounded by people trying to tackle problems bigger than Europe’s sovereign-debt soap opera.

We’re talking reducing energy use, speeding up water-quality testing, and closing the funding gap for promising college students.

No economists or policymakers took the stage with prescriptions for debt swaps or austerity measures at the Investors’ Circle Fall Venture Fair at World Cafe Live in West Philadelphia on Thursday morning. Just entrepreneurs who mind their P’s -- people, planet, and profit -- while trying to build their businesses.

POSTED: Thursday, October 27, 2011, 10:49 AM

Fifteen companies presented their business plans to private investors at Investors' Circle's Venture Fair at World Cafe Live in West Philadelphia on Thursday morning.

Among the companies that took the stage was Philadelphia's own Daily Worth, the publisher of a daily newsletter geared toward "chief household officers," according to CEO Amanda Steinberg. Translation: women. Daily Worth now has about 150,000 subscribers for its main product, which was launched in January 2009.

Other presenters came from the world of sustainable consumer products, energy monitoring, water testing and a new grocery store model for under served urban areas.

POSTED: Wednesday, October 26, 2011, 8:40 AM

Earnings and more earnings are dominating the news early.

SAP AG, the German software company with U.S. headquarters in Newtown Square, said total revenue for its Q3 rose 14 percent to 3.41 billion euros (or $4.75 billion). After-tax profit rose 150 percent to 1.25 billion euros ($1.74 billion), or 1.05 euros ($1.46) per share, from 500 million euros ($696 million), or 0.42 euros (59 cents) per share.

SAP co-CEO Bill McDermott said that software revenue in the 3rd quarter grew at the fastest rate in a decade.

POSTED: Tuesday, October 25, 2011, 12:44 PM

Thanks to a strong Q3 financial report, Unisys has been the biggest gainer on the New York Stock Exchange in trading early Tuesday.

Shares of the Blue Bell information services company were up 30 percent, or more than $6, to more than $26 compared with Monday's closing price of $20.02.

Unisys reported revenues of $1.02 billion for the three months ended Sept. 30, up 6 percent from $960.6 million for the same quarter a year ago. Net income rose 178 percent to $78.6 million, or $1.63 per share, from $28.3 million, or 65 cents per share.

POSTED: Monday, October 24, 2011, 8:25 AM
Filed Under: Pharma, Biotech
Members of an FDA committee looking at projected data on Adolor's Entereg in 2008. (Eric Mencher / Staff Photographer)

Let's start Monday off with a small acquisition.

Exton-based Adolor, which sells a drug called Entereg, will be acquired by Cubist Pharmaceuticals for $4.25 per share in cash. In all, the transaction is valued at $190 million initially, with up to $4.50 per share more due should Adolor meet certain milestones.

Cubist, based in Lexington, Mass., gains Entereg, which was approved by the FDA in 2008 for use after bowel surgery, as well as a compound to treat chronic opiod-induced constipation that recently completed Phase 2 testing. Phase 3 trials are set for 2012.

POSTED: Wednesday, October 19, 2011, 10:39 AM
Filed Under: Technology

Philadelphia-based Checkpoint Systems Inc. announced plans to expand a restructuring program to cut expenses and jobs.

The maker of anti-theft devices for retail chains said its new plans would affect 1,000 existing employees, up from the 204 in its original scheme. Checkpoint said it had "already taken steps to eliminate three senior executive positions" and intends to "aggressively take out layers of management."

In addition, Checkpoint plans to close four production facilities, but did not specify where in its news release.

About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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