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Inquirer Daily News

Archive: May, 2008

POSTED: Friday, May 30, 2008, 2:04 PM

Surprise! A Food and Drug Administration advisory panel is backing approval for a blood-clotting drug being developed by GlaxoSmithKline and a San Diego firm.

The advisors voted unanimously today to recommend approval for Promacta to treat an immune system disorder. That's a bit of a surprise given that the FDA staff said the data indicated that the drug didn't work any better than a placebo in clinical testing.

After the staff report was released earlier in the week, the stock price of GlaxoSmithKline's development partner, Ligand Pharmaceuticals, plummeted to its lowest level in a decade. Today, Ligard shares popped up by more than 50 percent.

POSTED: Friday, May 30, 2008, 3:05 AM

“It’s Always Sunny in Philadelphia” is not just the name of a cable-TV show.

It describes the positive thinking that seems to be catching in the executive suites of Philadelphia-area companies.

A new survey by KPMG LLP shows local executives to be fairly bubbly about their companies’ prospects and the city’s business climate.

POSTED: Thursday, May 29, 2008, 6:34 PM

Redlasso Inc. will not acquiesce to several broadcasters’ request that it cease and desist in providing their video content over its Web site.

In fact, the King of Prussia company has added a high-powered broadcast industry executive to help make its case to the broadcasters.

Redlasso retained Michael H. Jordan, former CEO of CBS Corp., as a senior advisor. Until August, Jordan was the CEO of Electronic Data Systems Corp., of Plano, Texas.

POSTED: Thursday, May 29, 2008, 3:05 AM

When it comes to lobbying and the pharmaceutical industry, apparently you can never have too many voices.

The Center for Responsive Politics says the pharmaceutical industry spent $150 million on lobbying in 2007.

The Pink Sheet trade publication says that Frazer’s Cephalon Inc. and Chadds Ford’s Endo Pharmaceuticals Holdings Inc. have teamed with five other drug makers to form America’s Specialty Medicines Companies.

POSTED: Wednesday, May 28, 2008, 3:39 PM

How many voices does an industry need?

When it comes to the pharmaceutical industry, apparently you can never have too many.

A couple of drug industry trade publications say that Frazer's Cephalon and Chadds Ford's Endo Pharmaceuticals have teamed with five other drug makers to form America's Specialty Medicines Companies.

POSTED: Wednesday, May 28, 2008, 3:05 AM

Can the CEO of a publicly held company be a whistleblower?

Well, that’s what Louis D. Paolino Jr. seems to be claiming in a letter filed with the Securities and Exchange Commission on Friday.

Paolino was terminated as CEO of Mace Security International Inc., of Fort Lauderdale, Fla., May 20, for what the board described as willful misconduct.

POSTED: Tuesday, May 27, 2008, 4:48 PM

More details have emerged about the rift between Mace Security International Inc. and its CEO that led to his ouster last week for misconduct.

Mace, which is now based in Fort Lauderdale, Fla., but had been in Mount Laurel, terminated Louis D. Paolino Jr. at a special board meeting May 20. In its statement, the maker of personal defense spray and hidden cameras said that Paolino did not follow board  instructions or perform his supervisory duties sufficiently.

A filing Friday with the Securities and Exchange Commission contains Paolino's response to the board's allegations. He told Inquirer staff Bob Fernandez last week that he would fight, and the letter makes it clear he's not going quietly:

POSTED: Tuesday, May 27, 2008, 3:45 PM

Unisys Corp. is losing one of its senior executives.

Randy J. Hendricks, president of Unisys' Global Industries business unit, will step down from the Blue Bell computer services company on June 15. The company reported it in an 8-K filing with the Securities and Exchange Commission today.

Hendricks is joining Electronic Data Systems Corp. to lead that Texas company's Applications Services and Systems Integration unit.

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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