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BUSINESS
January 31, 2016
Don't bother trying to tease Theodore Karkus, the chief executive of ProPhase Labs Inc., about his company's new product, a male enhancement dietary supplement, Legendz XL. "The first thing I said in our product strategy meetings is, 'Anybody that is squeamish about talking about this product can leave the room,' " he said. " 'But if you're going to stay, you're going to have to get used to the idea that we're talking about a subject matter for which there are going to be many jokes.' " ProPhase Labs, formerly Quigley Corp., is best known for its line of over-the-counter cold products, Cold-Eeze.
BUSINESS
January 30, 2016 | By Linda Loyd, Staff Writer
A small Texas pharmaceutical company that is building a sales and marketing headquarters in Blue Bell has won Food and Drug Administration approval for a first-of-a-kind treatment for Attention Deficit Hyperactivity Disorder in patients 6 years and older. Neos Therapeutics Inc. secured final FDA approval late Wednesday for Adzenys, the first oral tablet for ADHD that dissolves in the mouth in less than 30 seconds, and does not require swallowing a pill or capsule. Adzenys is an amphetamine and the bioequivalent of Shire PLC's Adderall XR, said the company, whose local operation is headed by a former Shire employee.
NEWS
January 29, 2016 | By Andrew Maykuth, STAFF WRITER
Developers and potential customers of small modular reactors (SMR) have formed an advocacy group called SMR Start to promote public policy to accelerate the adoption of advanced nuclear reactors. The founding members of the consortium include PSEG Nuclear, which operates large a three-reactor complex in Salem County, and Holtec International, the Marlton energy company that is building a research center in Camden to support the development of its small modular reactor, the SMR-160.
NEWS
January 28, 2016
A 46-year-old man was hospitalized in critical condition after being shot Tuesday evening in Bucks County, police said. The shooting occurred around 6:20 p.m. in the 2500 block of State Road in Bensalem, at a business identified as Philadelphia Express Group. The victim was reportedly transported to Aria Health-Torresdale Campus. Police reported no arrest or motive. Anyone with information about the shooting can call Bensalem police at 215-633-3719. - Robert Moran  
BUSINESS
January 28, 2016 | By Erin Arvedlund, STAFF WRITER
United Capital Financial Advisers, of Newport Beach, Calif., has acquired Harvest Group Financial Services, of Langhorne. Harvest Group Financial was founded in 1994 by Rosemary Caligiuri. This is the second acquisition in the Greater Philadelphia region for United Capital, which acquired Vantage Point Advisors in Lower Gwynedd. Terms of the latest deal weren't disclosed. However, United Capital Financial Advisers said in a statement that the firm had acquired two financial advisors, Harvest Group and Bedrock, of Los Altos, Calif., with a combined total of $370 million in client assets.
BUSINESS
January 26, 2016
President Obama's plan to clarify the fees that agents collect and the risks that savers take when they buy annuities continues to rile the life-insurance industry, which manages more than $5 trillion in annuity accounts, nearly a quarter of U.S. retirement money. "Assuming that the proposal was adopted and implemented as is, we would guesstimate that annuity sales might be as much as 70 percent lower" at Lincoln National Corp., the Radnor-based life insurer that is a leading annuity-sales and retirement-account provider, stock analyst Steven D. Schwartz, of Florida-based Raymond James & Associates, told clients in a report Friday.
NEWS
January 23, 2016 | By Andrew Maykuth, STAFF WRITER
New Jersey property owners along the route of the proposed PennEast natural gas pipeline on Thursday announced they have formed a nonprofit group that has hired the Washington law firm of Wiley Rein to fight the pipeline's application before the Federal Energy Regulatory Commission. The group called HALT PennEast ("Homeowners Against Land Taking") says the $1.2 billion pipeline, which would deliver Marcellus Shale natural gas to New Jersey's natural gas utilities, is unnecessary and harmful to the environment.
NEWS
January 23, 2016 | By Kristen A. Graham, Staff Writer
The School Reform Commission voted Thursday to begin the process of giving three struggling Philadelphia public schools to charter companies. Commissioners considered the fates of Jay Cooke, Samuel B. Huey, and John Wister Elementaries at a tense and raucous meeting attended by hundreds, with a long public session frequently interrupted by shouts, jeers, applause, and finger-pointing. Superintendent William R. Hite Jr. had initially proposed handing over all three schools, among the district's lowest performers, to charters, but changed his mind on Wister when recent school-performance data indicated some growth at the Germantown school.
NEWS
January 23, 2016 | By Andrew Maykuth, STAFF WRITER
The Philadelphia Federal Reserve Bank on Thursday reported that manufacturing firms believe the drop in energy prices has had mostly positive effects on their businesses. The bank noted, however, that a large share of companies also said sales to energy-producing customers had suffered. In its monthly survey, the bank said that nearly 51 percent of the firms reported overall positive effects from lower energy prices, while 30 percent reported negative effects. More than 41 percent of the firms said falling energy prices had lowered the costs of production, but nearly the same percentage of firms said lower prices had decreased demand from energy production–related customers.
BUSINESS
January 22, 2016 | By Michaelle Bond, Staff Writer
Well-publicized events involving professional athletes, along with a federal lawsuit and a Hollywood movie now in theaters, have spurred unprecedented interest in concussions - and set off a business boom. Companies around the country are developing headbands, mouth guards, helmet padding, and skullcaps to try to protect athletes' heads during impacts. Medical experts warn that no product can prevent concussions or the repeated subconcussive hits that may also cause lasting brain damage.
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