Home » Archive for September, 2011

Merck Gets $175 Million from J&J Joint Venture Sale

Merck announced today that they are removing themselves from participation in a joint venture called “Johnson & Johnson Merck Consumer Pharmaceuticals.” Merck had a 50% interest in the venture with Johnson & Johnson (J&J) and the company said it has sold it to a pair of J&J affiliates named McNEIL-PPC, Inc., McNEIL MMP, LLC, as well to Johnson & Johnson, Inc. itself. The joint venture originally began in 1989 to develop, manufacture, market and distribute certain over-the-counter (OTC) consumer products in the United... 
 

ExxonMobil Affiliate Plans Twin Liberty Class Crude Carriers

ExxonMobil announced today that their affiliate, SeaRiver Maritime, Inc. has signed an agreement with Aker Philadelphia Shipyard for the construction of two Liberty-class crude carriers. ExxonMobil said that the ships are double-hulled which are helpful in icy waters and the project makes over 1,000 jobs.  The ships themselves are valued at $400 million USD. The crude carriers will be used to transport Alaskan crude to the west coast of the United States.  Since these are to be newly constructed vessels, ExxonMobil said that they will be equipped... 
 

Indian Navy-Bound Boeing P-8I Successfully Makes First Flight

Boeing successfully flew a Indian Navy-bound P-81 for the first time today as it lifted off from Renton Field at 12:02 P.M. PST. The large aircraft was airborne for two hours, 31 minutes until landing at Boeing Field in Seattle, WA. While in the air it managed to climb to a height ceiling of 41,000 feet.  Notable is that company officials stated that it was not yet equipped with mission systems, something which was waiting to be installed after a successful flight. The Indian Navy had the following to say about the Boeing P-81, “The P-8I... 
 

AstraZeneca’s FASLODEX Receives First Approval in Japan

AstraZeneca announced today that their FASLODEX 500mg product received its first regulatory approval in Japan. FASLODEX 500mg is a breast cancer drug which had already gained regulatory approval in Europe in March, 2010 and in the United States one year ago in September, 2010.  Regulatory approval for the products’ roll-out was approved after a Phase III CONFIRM study was completed. In a company statement, Tony Zook, Executive Vice President of AstraZeneca’s Global Commercial Organisation said, “We are very pleased to bring this important... 
 

Chevron Begins Australian Wheatstone Project

Chevron announced today that they will begin their Australian whetstone project that they have been mulling over. Whetstone Project Details:  It is a processing platform down about 240 feet in the water off the coast of western Australia.  From the platform base will be a pipeline that will run to an onshore processing facility at Ashburton North.  The pipeline will have the capability of transporting gas and liquids.  The initial volume expected to be funneled through the pipeline will be two trains of 8.9 million tons on a yearly basis with... 
 

Bristol-Myers & Ambrx Announce Exclusive Research Rights Deal

Bristol-Myers Squibb & Ambrx, Inc. released a joint statement today which detailed a partnership where Bristol-Myers will gain exclusive worldwide rights to some of Ambrx’s research. In the agreement, Bristol-Myers will research, develop and commercialize biologics based on Ambrx’s research on the “Bibroblast Growth Factor 12 (or, FGF-21) protein.  This protein has a potential use for treating type 2 diabetes.  Additionally, the company will gain access to Ambrx’s research of the Relaxin hormone for potential use in... 
 

Lockheed Martin Boosts Dividend & Raises Share Repurchase

Lockheed Martin today stated that they would increase their quarterly dividend by a third and that they would also raise their shares repurchase authority by $2.5 billion dollars. The upcoming fourth quarter of 2011 dividend has been authorized to be $1.00 dollars per share as Lockheed also will repurchase up to an additional $2.5 billion dollars worth of shares in tandem which should increase shareholder value on  per-share basis.  The dividend will be payable December 30, 2011 to holders of record as of the close of business on December 1st,... 
 

IBM Reinforces Development and Public Service Program in Africa

IBM announced today that they will double the number of persons they deem as “emerging leaders” which they send on pro-bono assignments to Africa over the course of the next three years. The program is called Corporate Services Corps (CSC) which IBM says is aimed at developing leaders within the company that provides skilled assistance to local government, and non-government organizations in emerging markets.  IBM says they will send roughly around 600 employees to Africa from now until 2015. A team of emerging leaders being sent to... 
 

GE Signs Service Agreement with Iraq’s Mass Global

GE announced today that they have signed a service agreement with Iaq’s Mass Global.  Mass Global delivers electricity to northern Iraq. The agreement will provide Mass Global with a 12-year contract for parts and repair of Mass Global’s 18 gas-powered turbines in Arbil, Sulaimaniyah and Dohuk Power Plants in the Kurdistan Region.  The turbines are GE Frame 9E gas turbine units.  Reportedly, the contract will also enhance Mass Global’s expertise in the maintaining and operating of the turbines with a program that will help train... 
 

AT&T Launches 4G LTE in Atlanta & Chicago – Data Cap Doesn’t Budge

AT&T announced today that they have launched 4G LTE in Atlanta and Chicago.  The 4G LTE standard is 10 times as fast as its predecessor communications protocol,  ‘3G.’ In a company statement, AT&T said, “We continue to see demand for mobile broadband skyrocket, and now our customers in Chicago have access to the latest in mobile broadband with 4G LTE,” said Dave Fine, vice president and general manager of Illinois.  “Customers can now get everything from e-mail to apps to streaming video even faster.” AT&T also... 
 

Indonesia’s Lion Air Receives 50th 737-900ER from Boeing

Boeing announced today that they have delivered the 50th 737-900ER aircraft to Indonesia’s Lion Air. Lion Air is Indonesia’s largest private airline and the ‘ER’ designation in the 737-900ER aircraft model name means “Extended Range.” Lion Air said in a company statement, “This is a major milestone for Lion Air and Boeing,” said Lion Air President Director Rusdi Kirana. “We’ve operated the 737-900ER since 2007 and that airplane has allowed us to grow because of the low operating cost and... 
 

GlaxoSmithKline & Amicus Begin Second Phase 3 Study of Amigal

GlaxoSmithKline (GSK) announced today that they and Amicus Therapeutics have began the second phase III study of Amigal by way of dosing in a global registration study (Study 012) in an effort to compare safety and efficacy of Amigal (migalastat HCl) along with enzyme replacement therapy (ERT) for treatment of Fabry disease. Fabry disease is a rare, inherited lysosomal storage disorder. The study has a duration of 18 months and is randomized, open-labeled according to GSK.  The company said that the 18 month study will provide long-term clinical... 
 

Bristol-Myers Squibb Finalizes Acquisition of Amira Pharmaceuticals

The Bristol-Myers Squibb Company formally finalizes the acquisition of Amira Pharmaceuticals today. Amira Pharmaceuticals, Inc. had been a privately held company leading up to BMS’s acquisition of the company. Amira is noted as a small-molecule pharmaceutical company with an emphasis on the discovery and early development of drugs such as treatment of inflammatory and fibrotic diseases. Since Amira is now wholly owned by BMS, Amira is now a subsidiary of the company. In a company statement issued during the initial acquisition announcement... 
 

Abbott’s on Dow Jones Sustainability Indexes for Seventh Consecutive Year

Abbott has announced they have been included on not only the Dow Jones Sustainability World Index (DJSI) but also the North American index for seven consecutive years. The DJSI is a market benchmark for the performance of companies in industry sectors which are responsible for economic, environmental and social performance. For Abbott, this means they have received recognition from the market index as having leadership in multiple categories.  Abbott also received a 100 percent score in some categories such as environmental management and climate... 
 

Lockheed Martin Wins $100.5 Million LGB Contract

Lockheed Martin announced today that they have won a $100.5 million dollar laser-guided bomb contract. The contract is signed with the United States Air Force who will receive paveway II Plus Laser Guided Bomb (LGB) GBU-12 guidance kits. Lockheed Martin said in a company statement, “The award to Lockheed Martin represents the majority share of an initial $134 million Paveway II Plus LGB procurement, part of an overall $475 million five-year, firm-fixed-price, multiple-award contract announced by the U.S. Air Force on August 1.” Delivery... 
 
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