Business Watch -- WSJ
December 16 2016 - 03:02AM
Dow Jones News
LOCKHEED MARTIN
Minority Stake Taken in Chip Firm
Lockheed Martin Corp. is investing in a chip designer and
targeting military communications and technology for the next
generation of cellphones as part of the revamp of its
venture-capital arm.
Lockheed has acquired a minority stake in San Diego-based
IQ-Analog Corp., its first investment since starting a $100 million
fund in the summer.
San Diego-based IQ-Analog designs chips that can move data at
high speeds, which could be used in military sensors. Chris Moran,
general manager of Lockheed Martin Ventures, didn't disclose how
much it is paying.
--Doug Cameron
DRUGS
Makers of Generics Accused of Colluding
Twenty state attorneys general sued a group of generic-drug
companies Thursday, accusing them of colluding to fix prices on an
antibiotic and a diabetes medication, in violation of federal
antitrust law.
The attorneys general include Connecticut's George Jepsen and
New York's Eric Schneiderman. The companies named are Heritage
Pharmaceuticals Inc., Aurobindo Pharma USA Inc., Citron Pharma LLC,
Mayne Pharma Inc., Mylan Pharmaceuticals Inc. and Teva
Pharmaceuticals USA Inc.
A spokeswoman for Mylan said she knew "of no evidence that Mylan
participated in price fixing." A Teva spokeswoman said the company
has "not found evidence that would give rise to any civil or
criminal liability." Representatives for Aurobindo, Citron and
Mayne didn't immediately respond to requests for comment.
On Wednesday, federal prosecutors unsealed price-fixing charges
against Heritage's former chief executive and former president.
Heritage has said it fired those executives and is cooperating with
the Justice Department. On Thursday, a Heritage spokesman said the
company had no further comment.
--Erica Orden
AIRLINES
U.S. Pricing Inquiry Clears Five Carriers
The Transportation Department concluded its investigation into
the pricing practices of five major airlines following an Amtrak
derailment near Philadelphia in 2015, finding no wrongdoing, the
agency said in a letter Thursday.
The inquiry, launched in July 2015, targeted the five biggest
U.S. airlines: American Airlines Group Inc., United Continental
Holdings Inc., Delta Air Lines Inc., Southwest Airlines Co. and
JetBlue Airways Corp. the derailment in the Philadelphia
areadisrupted train service
--Imani Moise
(END) Dow Jones Newswires
December 16, 2016 02:47 ET (07:47 GMT)
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