NEW YORK (AP) — Onyx Pharmaceuticals Inc. said Monday it will buy cancer drug developer Proteolix Inc. in a deal that could be worth as much as $851 million. Onyx shares advanced $2.20, or 8.2 percent, to $29.10 in premarket trading. Onyx will pay $276 million upfront for the privately held South San Francisco company, and in the process it gains Proteolix's cancer drug candidate carfilzomib, which is being tested as a treatment for multiple myeloma, non-Hodgkin lymphoma, and solid tumors.
BENNINGTON, Vt. (AP) — A Bennington manufacturer has purchased a second industrial site in town as it prepares to fill a Pentagon contract to make armor for vehicles going to Afghanistan. Plasan North America, a subsidiary of an Israeli firm, is joining with a Wisconsin-based company, Oshkosh Corp.
BRUSSELS (AP) -- World steel makers said Monday that "exceptionally strong growth" in Chinese demand and a better-than-expected global economic recovery would keep steel consumption from falling as sharply as previously expected. The World Steel Association said steel use was likely to fall by 8.
NEWPORT, Del. (AP) — Three automakers reportedly have toured the shuttered Boxwood Road auto plant near Newport as Delaware officials work to find another tenant for the former General Motors plant. The Wilmington News Journal reported Sunday that the three include a start-up developing a plug-in hybrid and an Indian automaker.
GENEVA (AP) — China said Monday that it will ask the World Trade Organization to examine whether European Union charges on imports of Chinese steel fasteners comply with international commerce rules. Beijing argues that the EU is illegally taxing the screws needed for products from furniture to cars.
LITTLE ROCK, Ark. (AP) — Good help is hard to find, unless that help is doing hard time. Two manufacturers are taking advantage of a program in which they develop factories in Arkansas prisons and put convicts to work at market wages. The workers use their earnings to fund the program, pay child support, fines, restitution and build a nest egg.
A Philly cheesesteak sandwich is a culinary indulgence to some and a dietary staple to others. Thin slices of beef, chicken or pork piled high on an Amoroso-style roll with lots of melted cheese is a palate-pleasing treat that originated in Philadelphia, but can now be found in sandwich shops all over the world.
Rollprint Packaging Products Inc. (Addison, IL) announces the launch of a high-performance, 100 percent polyester lidding alternative for medical, pharmaceutical, and food processing applications. The SteamOne uses are much as 50 percent less material and helps companies meet recycling objectives.
The Instapak TempGuard Cold Chain Packaging system from Sealed Air (Danbury, CT) has been designed to keep temperature-sensitive products safe during shipment. The Instapak polyurethane foam performs better than expanded polystyrene, according to the company, allowing customers to choose more cost-effective solutions than overnight priority shipping.
Label-Aire (Fullerton, CA) has launched the Inline Series 5100 Vacuum Wrap Front/Back label system, which was designed to accurately apply both front and back labels to round bottles without the need for a second applicator. The 5100 labeler features a vacuumized wrap transport belt using a single Label-Aire 3015-ND Wipe-ON label applicator.
The new SVI Vertical Bagger from Bosch Packaging Technology (Waiblingen, Germany) is ideal for a wide range of food and non-food application due to its versatile operation. The SVI machines can produce bags with a corner seal and doy style bags with optional zippers, with simple additions and changes.
DETROIT (AP) — Hummer, the off-road vehicle that once was a symbol of America's love for hulking trucks, is now in the hands of a Chinese heavy equipment maker. General Motors Co. and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal to sell the brand on Friday, according to a joint statement issued by both companies.
HARTFORD, Conn. (AP) — Hartford police are at a recycling plant investigating the death of a man whose body was found near cardboard boxes. Police are trying to determine who the man was and how he died. They say he was not an employee of the plant. Authorities were called to All Waste Inc.
PARIS (AP) — France's labor minister has ordered all companies with more than 1,000 employees to develop an anti-stress plan based on discussions about pressure in the workplace. If not, they will go on a list of shame to be published on the Internet. The government's concern about the psychological and physical health of employees follows outrage caused by 25 suicides in 18 months at the phone company France Telecom.
DURHAM, N.C. (AP) — Gov. Beverly Perdue says North Carolina has no choice but to keep offering incentives packages to attract out-of-state companies even with the closing of the Dell computer plant. But Perdue told reporters Thursday she's made plain to Dell the state expects back every "red cent" it's owed in tax breaks and other benefits because it didn't meet job and investment performance standards.
WASHINGTON (AP) — The United Auto Workers union has summoned representatives from Ford factories across the nation to Detroit on Tuesday to discuss contract talks with the automaker. Union President Ron Gettelfinger confirmed the meeting after a charity appearance in Washington on Thursday night but would not elaborate.
BEIJING (AP) — General Motors Corp. said Friday it set a sales record in China in September and total sales for the first nine months of the year rose 55 percent to nearly 1.3 million vehicles. GM and other global automakers are looking to China's fast-growing market to drive sales amid slack demand elsewhere.
MUMBAI, India (AP) — India's Tata Motors has raised $750 million from international markets to help pay for its 2008 acquisition of Jaguar and Land Rover from Ford Motor Co., the company said Friday. Tata Motors said it's issuing 29.9 million new shares, worth $375 million, in the form of Global Depository Shares at $12.
ST. LOUIS (AP) — Monsanto Co. says the Justice Department is investigating whether it violated antitrust rules in trying to expand its dominance of the market for genetically engineered crops. The department's investigation of Monsanto is part of a previously announced inquiry into consolidation in the seed industry.
DURHAM, N.C. (AP) — A North Carolina-based maker of energy-efficient lighting elements is expanding and plans to add 575 jobs in the next three years. Cree Inc. said Thursday it expects to add 275 jobs this year as it expands production of light-emitting diode chips at its Durham plant.