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Archive for the 'Regulatory filings' Category

Barr confirms patent challenge

July
29

Barr Pharmaceuticals Inc. confirmed today that its Pomona-based subsidiary, Barr Laboratories Inc., has challenged four patents held by Amgen Inc. for its Sensipar drug, used by dialysis patients to treat side-effects of the treatment.

Barr said it filed an Abbreviated New Drug Application with the Food and Drug Administration on March 10, the first date the agency could accept such an application for the kidney drug.

On Monday, Amgen, along with patent partners Brigham and Women’s Hospital Inc. and NPS Pharmaceuticals Inc., filed suit against Barr and Israeli drug-maker Teva Pharmaceutical Industries Ltd. for planning to sell generic Sensipar before the expiration of patent protection.

Sensipar recorded $377 million in U.S. sales during the 12 months ending May, Barr said.

Teva, the world’s largest generic-drug maker, is buying Montvale, N.J.-based Barr for $9 billion, the companies said jointly earlier this month.

Shares of Barr were down fractionally in noontime trading to $65.81 a share.

Posted by David Schepp on Tuesday, July 29th, 2008 at 11:11 am |
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Energy East deal in limbo, Schumer seeks meeting

June
19

New York’s senior senator, Charles Schumer, lashed out at the state’s Public Service Commission today, calling its demands “irrational and illogical,” following a non-binding ruling by an administrative law judge Monday to reject Iberdrola SA’s $4.5 billion buyout of Energy East Corp., parent to New York State Electric & Gas Corp.

NYSEG has nearly 90,000 customers in Westchester, Putnam and Dutchess counties.

The commission is seeking “to place severe restrictions on the world’s leading wind power producer,” Schumer said in a written statement.

In his ruling, the judge urged the commission, should it decide to go ahead with the buyout, to require Iberdrola to sell of all of its wind-energy assets in the state, among other conditions.

But Schumer said that stipulation would risk jobs and a $2 billion investment in the state’s economy. The Democrat said he is seeking to meet with PSC Chairman Garry A. Brown about Iberdrola’s bid, which likely will be withdrawn if PSC rejects the plan.

“I am requesting this meeting to discuss the importance of brokering a deal that will keep customer rates low, provide system reliability and bring much-needed wind power to New York,” Schumer said.

The PSC is expected it issue its ruling on the buyout next month.

New York is the last of four Northeastern states to weigh in on the deal. Connecticut, New Hampshire and Maine have approved the buyout.

Posted by David Schepp on Thursday, June 19th, 2008 at 4:00 pm |
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Research exec leaves Progenics Pharmaceuticals

May
23

Progenics Pharmaceuticals Inc. of Eastview said in a filing with the Securities and Exchange Commission that Dr. Alton B. Kremer, its senior vice president of clinical research, had resigned on May 20 to pursue other interests.
Kremer had joined the company in October 2004. Last year he was paid $380,000 in salary and a $245,000 bonus, among other compensation, according to Progenics’ proxy statement.

Posted by Jerry Gleeson on Friday, May 23rd, 2008 at 10:46 am |
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Starwood Hotels enters $375M loan pact

April
15

Starwood Hotels & Resorts Worldwide Inc. has entered into a $375 million loan agreement with various lenders as part of an amended credit agreement, the hotelier disclosed in a regulatory filing today.

Proceeds from the loan will be used to repay debt, to pay fees and expenses related to the repayment and for general corporate purposes, the White Plains-based company said.

Posted by David Schepp on Tuesday, April 15th, 2008 at 4:27 pm |
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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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