BRIEFCASE.Byline: -- Staff and Wire Services
Teva's version of Zocor gets OK
NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Teva Pharmaceuticals Industries Inc. won final regulatory clearance to market its generic version of cholesterol medication Zocor after a federal judge threw out a motion from a rival company.
The Israeli company has already started shipping its versions of the four different dose strengths it has been approved to sell. Indian drug maker Ranbaxy Laboratories Ranbaxy Laboratories Limited is an Indian company incorporated in 1961. It is India's largest pharmaceutical company. It exports its products to 125 countries with ground operations in 46 and manufacturing facilities in seven countries. Ltd. won approval to sell the highest dosage of the pill, which isn't commonly prescribed.
Judge Royce C. Lamberth Royce C. Lamberth (born 1943) is a judge in the United States District Court for the District of Columbia.
Lamberth was born in 1943 in San Antonio, Texas. He graduated from the University of Texas and from the University of Texas School of Law, receiving an LL.B. in 1967. of the U.S. District Court for the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). denied a motion for a temporary restraining order temporary restraining order: see injunction. filed by another generic manufacturer, Sandoz Inc., to block the FDA FDA
Food and Drug Administration
n.pr See Food and Drug Administration.
n.pr the abbreviation for the Food and Drug Administration. from approving generic forms of Zocor made by Teva or Ranbaxy. The denial of the motion cannot be appealed.
Merck & Co.'s Zocor lost patent protection Friday. It generated $4.4 billion last year.
SEC begins probe of Home Depot
WASHINGTON -- The Home Depot Inc. disclosed Friday that the Securities and Exchange Commission had begun an informal inquiry into its practices for granting stock options.
The disclosure by the nation's largest home-improvement chain came a week after it said its own review had turned up five instances of options having been awarded to executives at below-market prices. In three of the five instances, the market price of company stock on the award date was higher than that on the date the exercise price was determined.
In all five, the company's board of directors approved the options grants retroactively. Home Depot's internal review also found about $10 million in unrecorded stock option expenses.
The Atlanta-based company disclosed the SEC inquiry in a regulatory filing Friday.
EPL 1. EPL - Early PL/I.
2. EPL - Experimental Programming Language.
3. EPL - Eden Programming Language. U Washington. Based on Concurrent Euclid and used with the Eden distributed OS. Influenced Emerald and Distributed Smalltalk. to purchase Stone Energy
NEW ORLEANS -- Independent petroleum producer Energy Partners Ltd. said Friday that it has agreed to acquire Stone Energy Corp. for $1.4 billion, thwarting a competing bid from Plains Exploration & Production Co.
New Orleans-based EPL will acquire all of Lafayette, La.-based Stone Energy stock for cash and stock at the option of the shareholder, the companies said in a joint statement.
Stone Energy shareholders will be able to choose between receiving $51 in cash per share or a certain number of EPL shares, but EPL is paying at most $723 million in cash. Assuming half of the shares are sold for cash, the offer is worth $48.25 per share based on EPL's Thursday closing stock price of $18.02 on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. .
The price is an 18 percent premium to Stone Energy's closing stock price May 24, the day before the offer was announced.
The deal, which is expected to close in the fourth quarter if shareholders of both companies approve, also includes EPL taking over $800 million of Stone Energy debt.
AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. chip facility set for New York
ALBANY, N.Y. -- Semiconductor maker Advanced Micro Devices Inc., which was offered about $1 billion in state incentives, will build a multibillion-dollar chip manufacturing plant in upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. , creating 2,000 permanent jobs, state and company officials said Friday.
AMD chose to locate the new plant on a 600-acre site in Malta, about 25 miles north of Albany, after considering bids from East Asia and Germany, state officials said.
``The Hudson Valley is going to be America's next Silicon Valley and we're well on our way to achieving that,'' Gov. George Pataki said.
Pataki said the state and company would invest $3.2 billion initially and up to $5 billion over the next couple of years.
The state is providing about $1 billion in incentives including grants for construction and equipment, tax credits and other Empire Zone benefits, according to a legislative aide familiar with the deal who spoke on condition of anonymity because the deal wasn't to be announced To be announced (TBA)
A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. until later Friday.