Monday, January 11, 2010

Daily Business Update from the Boston Globe

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Monday, January 11, 2010

BIND appoints Minick as chief executive
Globe Staff BIND Biosciences, a Cambridge biopharmaceutical company that looks to leverage a proprietary medicinal nano-engineering platform to produce drugs, announced the appointment of Scott Minick as president and chief executive. Minick was formerly a managing director at ARCH Venture...

AMAG's Feraheme tops Wall Street forecasts
Associated Press CAMBRIDGE -- Biotechnology company AMAG Pharmaceuticals Inc. said it expects to report up to $13 million in fourth-quarter sales of its drug Feraheme, topping Wall Street expectations. AMAG shares rose $6.45, or 16 percent, to $46.89 in afternoon...

TA agrees to acquire majority interest in eCircle
Globe Staff TA Associates, a private equity firm with offices in Boston, said it has signed a definitive agreement for a majority investment of more than 60 million euros, or about $87 million, in eCircle, a Munich-based provider of global e-mail marketing...

Fidelity Ventures team forms Volition Capital
Globe Staff A team that had led the US operations of Fidelity Ventures, a venture capital firm affiliated with Fidelity Investments, said that it has launched Volition Capital as an independent growth equity firm. Managing partners in the new firm...

Edward Linde of Boston Properties dies at 68
By Casey Ross and Geoff Edgers, Globe Staff Edward Linde, who used his real estate fortune as co-founder of one of the nation?s most prominent property owners to become a major supporter of the arts in Boston, died Sunday as...

Akamai taps Diversified Project Management
Globe Staff Diversified Project Management Inc., a Newton firm that provides construction and project management services, said that it has been retained by Akamai Technologies to manage a 20,000 square-foot renovation at Akamai's corporate headquarters in Cambridge. Akamai, which specializes...

AthenaHealth names new chief financial officer
Associated Press WATERTOWN -- AthenaHealth Inc. said it has named Timothy M. Adams, an executive at a private investment firm and a medical industry veteran, as its chief financial officer. He succeeds Carl B. Byers, who announced last year that...

Cubist reports $560.3 million in 2009 revenue
Associated Press LEXINGTON -- Cubist Pharmaceuticals Inc. said today that it posted $560.3 million in revenue during 2009, up 30 percent from a year earlier and meeting Wall Street forecasts. The company said US sales of the antibiotic Cubicin, its...

Vertex to ask for telaprevir OK later in 2010
Associated Press CAMBRIDGE -- Biotechnology company Vertex Pharmaceuticals Inc. said that it plans to seek regulatory approval of the experimental hepatitis C drug telaprevir as scheduled. Telaprevir is one of several potential hepatitis C treatments in development. If approved, it...

Holiday sales were off 2.6 percent for local retailers
Globe Staff Holiday retail sales declined for local merchants by 2.6 percent when compared with the holiday retail season in 2008, according to a survey by the Retailers Association of Massachusetts of roughly 3,100 of its business members. The decline...

CA acquires business software maker Oblicore
Associated Press ISLANDIA, N.Y. -- CA Inc. said today that it has acquired the privately held business software provider Oblicore Inc. The terms of the deal were not released. CA said the acquisition of the Waltham company will bolster software it provides...

Local gas prices jump 8 cents a gallon
Globe Staff Gasoline prices in Massachusetts jumped 8 cents to an average of $2.709 per gallon, AAA Southern New England said. AAA takes a weekly survey of local gas prices, and the Jan. 11 survey in Massachusetts found self-serve, regular unleaded...

Dunkin’ launches Twinter games & tweet contest
Globe Staff Dunkin' Donuts, a company that so prizes brevity that it shortened the spelling of doughnuts to donuts, is launching a Twitter contest that challenges all hands to extol the virtues of its iced coffee in the tersest of...

Progress Software buys California company
Globe Staff Progress Software Corp., a Bedford company specializing in software for businesses, said in a press release that it has bought Savvion Inc., a privately held business enterprise software company based in Santa Clara, Calif., for $49 million, net...

Inverness offers to acquire Korean company
Globe Staff Inverness Medical Innovations Inc., a Waltham medical diagnostics company, said in a press release that it has commenced a cash tender offer to acquire a majority equity interest in Standard Diagnostics of Korea. Over the last few years,...

Today in Globe Business
Putting their faith into the foreclosure fight For Nylton Andrade, preventing home foreclosures is not just a personal priority. It?s a matter of religious faith. Andrade, who was laid off from a teaching job at Boston?s Madison Park High School...

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