March 20, 2012
In the Region Generic drugmaker Watson Pharmaceuticals Inc. said Monday that it is seeking approval from the Food and Drug Administration to market a generic version of Abbott Laboratories' cholesterol drug Niaspan. Watson is looking to market Niacin extended-release tablets in 500mg and 1000mg versions. Niaspan had about $1.2 billion in U.S. sales for the year ended Jan. 31, according to IMS Health. On Friday, Abbott Laboratories and Abbott Respiratory L.L.C., which have operations in the Philadelphia area, filed a lawsuit against Watson to prevent the company from commercializing its generic product before the Niaspan patent expires.
February 10, 2012 |
NEW YORK - The stock market finally got a deal in Greece, but it didn't produce much of a rally. U.S. stocks rose Thursday morning after Greece announced an agreement to cut costs and keep from defaulting on its debt next month. But stocks dropped later in the morning and did not return to their highs for the day. Analysts cautioned that the market had expected the deal in Greece and warned that Europe still faced problems. "We still have a lot of wood to chop," said Jeremy Zirin, chief equity strategist at UBS Wealth Management.
February 1, 2012 |
NEW YORK - Facebook founder Mark Zuckerberg turns up at business conventions in a hoodie. Cocky is the word used to describe him most often, after billionaire . He was Time's person of the year at 26. So when he takes Facebook public, why would he follow the Wall Street rules? The company filed to sell stock on the open market in what is likely to be the most talked-about initial public offering since Google in 2004, maybe since the go-go 1990s. Around the nation, regular investors and IPO watchers are anticipating some kind of twist - perhaps a provision for the 800 million users of Facebook, a company that promotes itself as all about personal connections, to get in on the action.
September 9, 2011 |
Not even a lot of rain Thursday could dampen the entrepreneurial spirits of those at DreamIt Ventures Inc. That's because DreamIt disclosed the 15 start-ups that will spend the fall in its business acceleration program in West Philadelphia. And despite the 25 feet of rain that's fallen here since early August, not a one of them is trying to make a better umbrella or sump pump. DreamIt trends more to the Web-based or mobile business than the machine shop in part because that's where the interests of venture capital investors are. When Groupon , the Chicago online coupon firm, can claim a market valuation of $30 billion after just three years, you can see why. Starting Monday, the DreamIt companies will gather for 13 intense weeks of battle-testing their business plans and beta websites in their temporary home at the University City Science Center.
October 25, 2011 |
Alphabuyer Inc., a year-old Paoli e-commerce company that enlists customers for "group buying for your bills," probably could have picked something a little sexier to start with than the humble electric bill. But since launching last year with discount offers for Peco Energy Co. electricity customers, the group-buying service has expanded into three other states including New Jersey, and other commodities like natural gas. Cofounder Kevin Johnson imagines that eventually every savvy, penny-pinching customer would go through Alphabuyer to join groups to buy anything from discounted Internet and cellphone service to gasoline, heating oil or antivirus software subscriptions.