Business news in brief

Posted: May 19, 2013

In the Region

Pharmacy tie-up gets OK

AmerisourceBergen Corp. said regulators had cleared an agreement in which Walgreen Co. and Alliance Boots GmbH may acquire an equity stake of up to 25 percent of the wholesale pharmaceutical distributor, based in Valley Forge. In March, the drugstore chain and its European partner agreed to a distribution agreement with AmerisourceBergen, giving the companies the right to buy minority equity positions in the wholesaler. - Inquirer staff

Sanofi, France do the dance

Sanofi and the French government presented conflicting views on plans for the future of the drugmaker's research site in Toulouse. Industry Minister Arnaud Montebourg said in a statement that Paris-based Sanofi accepted the recommendations of a state-commissioned report to retain the facility for at least five years and keep most of the jobs. Company spokesman Jean-Marc Podvin said that while Sanofi would aid the site's transition into "autonomous structures" over the next five years, it was making "no commitment" on jobs. Sanofi operates a vaccine production center in northeastern Pennsylvania. - Bloomberg News

Judge: Casino can seek buyer

A struggling Atlantic City casino is free to seek a new buyer after a judge ruled that it can scrap a deal to sell itself to the world's largest online poker website. The Atlantic Club was going to sell to the parent company of PokerStars, but terminated the contract last month when PokerStars had not obtained preliminary casino licensing. A judge on Friday ruled that the casino had the right to end the contract. - AP

Elsewhere

Tuesday Morning CEO sues

The former CEO of Tuesday Morning has filed a discrimination lawsuit against the discount retailer, saying she was fired just months after revealing she had breast cancer. The lawsuit by Kathleen Mason, who oversaw the company's growth, follows a discrimination filing with the Equal Employment Opportunity Commission last summer. The company said in a statement that Mason's allegations were without merit and that it would "vigorously" contest them. - AP

Dell misses analyst estimates

Dell Inc. reported fiscal first-quarter profit that missed analysts' estimates, underscoring the worsening outlook that led the company's founder to seek a buyout designed to reinvigorate growth. - Bloomberg News

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