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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