Business news in brief

Lincoln National Corp. said yesterday it would use cash on hand to pay $500 million in debt due Monday. The Radnor company also said it would be able to repay $375 million in government-backed short-term debt due in May with internal cash and new short-term debt without government backing. Lincoln's shares closed at $6.69, up 28 cents, or 4.37 percent. That erased part of Monday's $3.96 loss, which was spurred by Lincoln's announcement Friday that it had withdrawn its application to issue debt with a Federal Deposit Insurance Corp. guarantee. - Harold Brubaker

Capmark Financial Group Inc., the Horsham commercial mortgage lender, said it asked for a 15-day delay in its annual financial filing with the Securities and Exchange Commission. Capmark said it anticipates filing by April 15. It is in negotiations with its lenders to change the terms of its loans. The company, which has been stung by the collapse of the nation's real estate market, lost $800 million in the 2008 fourth quarter. - Paul Schweizer

Wyeth is seeking federal approval to sell a new version of its blockbuster infant vaccine Prevnar, which protects against more strains of a germ that causes pneumonia. Prevnar currently protects against seven of the most common strains of a strep bacteria. The new version, called Prevnar 13, protects against those seven strains, plus six others. Wyeth, which has operations in Collegeville, applied for Food and Drug Administration approval and is hoping for an expedited decision. - Miriam Hill

Penn Virginia Corp., a Radnor natural gas producer, said lenders shaved 6 percent off the maximum amount it can borrow under a revolving credit facility. As part of a regular semi-annual review, the borrowing base fell to $450 million from $479 million, the company said. It said it had $390 million outstanding under the facility. Penn Virginia's shares fell 33 percent early this month on worries that the company would face a steep cut in its borrowing base. Yesterday, they closed up 32 cents, or 3 percent, at $10.98. - Harold Brubaker

Shire P.L.C. and GlaxoSmithKline P.L.C. signed a three-year deal to copromote Shire's Vyvanse drug to U.S. doctors. Shire, which has North American headquarters in Wayne, has built a big franchise in treatments for attention deficit hyperactivity disorder. Having Glaxo, the world's second-biggest drug company, as a partner could help boost the sales of Vyvanse, which were nearly $320 million last year. - Michael Armstrong

Fox Rothschild L.L.P., the Center City law firm, said it had acquired a nine-lawyer firm in Stamford, Conn., effective today. The firm, Pastore Osterberg L.L.C., focuses on telecommunications, securities, intellectual property, information technology, litigation and real estate law. - Chris Mondics

WPCS International Inc., an Exton engineering services company, said it won $7 million in contracts that stem from

the federal economic stimulus package approved in February. The work includes projects for two hospitals, two police departments, a fire department and

the Port Authority of New York and

New Jersey.
- Paul Schweizer

General Motors Corp.'s new chief executive officer said that more of the automaker's plants could close as part of GM's effort to meet new, tougher requirements for government aid. And he said bankruptcy for GM now is "certainly more probable." In his first news conference as CEO, Fritz Henderson said he expected GM would "need to take further measures" on plant closures. That's beyond the five plants GM said it would shutter when it submitted a restructuring plan to the government last month. - AP

Ford Motor Co. and General Motors Corp. are offering payment protection plans to help reassure consumers who may be putting off buying a new car because of worries about losing their job. Ford said it would cover payments of up to $700 each month for up to a year on a new Ford, Lincoln or Mercury vehicle if consumers lose their jobs. The program runs until June 1. GM said it would make up to nine car payments of $500 each for customers who have lost jobs through no fault of their own. - AP

Cardinal Health Inc. said its clinical and medical products unit would eliminate 1,300 jobs, as hospitals cut back on equipment purchases. Cardinal plans to spin the unit off this year under the name CareFusion Corp. Cardinal said the business would lay off 800 people and eliminate 500 more jobs through attrition. Most of the job cuts are in Southern California. Cardinal has a distribution center in Swedesboro and its Viasys Healthcare Inc., Conshohocken. - AP

The Sun-Times Media Group, owner of the Chicago Sun-Times and dozens of suburban newspapers, filed for Chapter 11 bankruptcy. The step, brought on by a precipitous decline in advertising revenue, means both of Chicago's major daily newspapers are operating under bankruptcy protection. The Sun-Times Media Group said it would continue to operate its print and online properties. It listed $479 million in assets and $801 million in debt. - AP

Yamaha Motor Corp. USA recalled about 120,000 off-highway recreational vehicles for repairs. All Rhino 450 and 660 model vehicles were recalled for repairs designed to prevent accidents that resulted in 46 deaths and hundreds of injuries. - AP

Procter & Gamble Co. said it had sold its Johnson Products Co. to RCJP Acquisition L.L.C. Terms were not disclosed. Johnson Products, Los Angeles, offers more than 30 hair care products targeted toward African Americans. Johnson Products has annual sales of more than $23 million. - AP