BUSINESS NOTES PANEL URGES OK FOR AMGEN DRUG.Byline: - From staff and wire reports Biotech giant Amgen Inc. on Thursday said that the U.S. Food and Drug Administration Arthritis Advisory Committee has recommended approval of the drug Kineret for treating rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. . If approved, Kineret would be the first drug to directly and selectively block interleukin-1, a protein that when present in excess causes inflammation and joint damage. The company said that the vote, announced after the markets closed, is a significant step toward bringing the therapy to patients who are suffering debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction effects of rheumatoid arthritis. The nearly 3,000-patient worldwide clinical trial program was the largest ever conducted for a biologic rheumatoid arthritis medicine prior to commercialization. Kineret has been studied in a broad range of patients with varying degrees of disease severity and in combination with a variety of other treatments. Superior to supply multiple GM lines Van Nuys-based Superior Industries International Inc. said Thursday that it has been chosen by General Motors Corp. to supply aluminum wheels for multiple GM vehicle lines over the next several years. Superior already does about $300 million in business a year with GM and the latest contract should increase this amount by 15 percent, the company said. ``This agreement is a milestone for Superior because it gives us the ability to work closely with General Motors on multiple vehicle lines for an extended period of time,'' said Louis L. Borick, Superior's president and chairman. The company's other clients include Ford, DaimlerChrysler, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Volkswagen, Audi, Land Rover See LANRover. , MG Rover, Toyota and Mazda. Settlement allows 3D to acquire firm The Justice Department reached a settlement Thursday in an antitrust case Noun 1. antitrust case - a legal action brought against parties who are charged with limiting free competition in the market place action at law, legal action, action - a judicial proceeding brought by one party against another; one party prosecutes another for a against 3D Systems Corp. that will allow the company to acquire DTM DTM dermatophyte test medium. Corp. Under the settlement, the department said 3D, which operates out of Valencia, and DTM must license their rapid prototyping patents to a third party that will compete in the United States. Rapid prototyping transforms computer designs into three-dimensional objects and is used to speed the design of cell phones, medical equipment and other products. The agreement, filed in U.S. District Court here, settles a lawsuit filed by the department's Antitrust Division on June 6 to block the merger. DTM is headquartered in Austin, Texas. FirstFed making bank purchases Santa Monica-based FirstFed Financial Corp., parent of First Federal Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. , said it is buying Del Amo Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. and Frontier Bancorp, parent company of Frontier State Bank, for about $23 million. Both Del Amo Savings Bank and Frontier Bancorp are subsidiaries of City Holding Co., headquartered in Charleston, W. Va. FirstFed, a federal savings bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks with $4.6 billion in assets, has 25 retail banking offices and three loan offices in Southern California. Del Amo is a $128 million federal savings bank, headquartered in Torrance, and Frontier State Bank is a $73 million state bank based in Redondo Beach. When the sale is completed, both Del Amo and Frontier State Bank and their four offices will be merged into FirstFed. |
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