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Mon. Jul. 02, 2012 Dunkin’: Celebrate the Oreo’s 100th birthday with an Oreo donut In a marriage seemingly made in uber-chef heaven, Dunkin’ Donuts said it is celebrating the 100th anniversary of the Oreo cookie by infusing Oreo DNA into some of Dunkin’s cold beverages and baked goods. Not to be outdone, Dunkin’s sister chain, Baskin-Robbins, will also use the Oreo as an inspiration for some seasonal ice cream-and-cake offerings. Oreo is a registered trademark of Kraft Foods, and Dunkin’ Donuts and Baskin-Robbins have a licensing agreement with Kraft for their Oreo promotions.	Advertisement
Drug giant GlaxoSmithKline to pay $35 million to Massachusetts Medicaid program as part of $3 billion national settlement over marketing Pharmaceutical giant GlaxoSmithKline has agreed to pay more than $35 million to the Massachusetts Medicaid program as part of the British drug maker’s $3 billion settlement Monday with federal and state authorities in the largest US health care fraud case ever. The massive case centers around the promotion of prescription drugs for uses not approved by federal regulators, which is illegal. Although doctors may prescribe drugs for off-label treatments, companies can’t must limit their marketing to approved uses.
Avid ‘streamlines operations’ with divestitures, layoffs. Head count to shrink by about 350 jobs Avid Technology Inc., a Burlington company that makes equipment for recording music and video, said Monday that its head count will be reduced by about 20 percent, or about 350 jobs, as a result of selling off some of its product lines as well as from layoffs. The reduction is part of a strategic initiative to improve operating performance, Avid said. As part of the plan, Avid is looking to focus on its professional customers who use Avid tools to edit Hollywood movies.
Apogee Tech shares halted by SEC The US Securities and Exchange Commission has temporarily suspended trading of shares of Apogee Technology Inc., citing the company’s apparent failure to file routine public financial reports. The SEC said the Norwood biotechnology company has not filed quarterly financial reports since June 30, 2011. The commission suspended trading of Apogee shares for two weeks beginning Monday. It will conduct administrative proceedings to investigate the case.
Mass. gas prices fall a penny a gallon The average price for gas in Massachusetts was $3.369 a gallon in the latest weekly survey from AAA., down 1 cent from the previous week’s average, AAA Southern New England reported Monday. It was the 11th consecutive week of decreases, AAA Southern New England said. Prices locally are now 53 cents less than gas prices seen in mid April. The current national average is $3.32 a gallon. A year ago at this time, the Massachusetts average price was $3.61 a gallon.
AIM: Business confidence plunged in June A Massachusetts business confidence index posted a June reading of 48.3, the lowest reading since October. June’s reading was 8.5 points lower than May’s. The 8.5-point monthly loss is the second-largest in the index’s 21-year history, and came following a “spate of negative economic reports during the month.” The monthly index is maintained by the Associated Industries of Massachusetts, or AIM, an association of Massachusetts employers.
Jumptap closes $27.5m financing round Jumptap, a Cambridge company specializing in targeted mobile advertising, announced the completion of a $27.5 million financing round Monday. Existing investors including General Catalyst Partners, Redpoint Ventures, Summerhill Ventures, Valhalla Partners, and WPP participated in the round. They were joined by two new investors. One was Keating Capital. Jumptap described the other as “a large, institutional investor.” Jumptap chief executive George Bell said, “We’re focused on expanding our leadership in this surging market, developing our patented technologies in data and targeting, and preparing the company to go public.”
Cubist Pharmaceuticals promotes Robert J. Perez to the post of president Cubist Pharmaceuticals Inc. said Monday that executive vice president and chief operating officer Robert J. Perez has been named President and COO. The Lexington-based biopharmaceutical company makes an intravenous antibiotic called Cubicin. As president and COO, Perez will oversee all global commercial, manufacturing, business development, and information technology functions. In this capacity, he will have responsibility for overseeing Cubist’s international business expansion.
Massachusetts Chamber of Commerce initiative looks to boost manufacturing skills The Massachusetts Chamber of Commerce said it has launched a foundation that will offer grants to smaller Massachusetts manufacturers that provide on-the-job training for skilled positions. Companies with up to 200 employees are eligible for the grants, the chamber said. ‘‘We’re asking business leaders to step up and give contributions of any size to our Foundation to help assure a bright future for manufacturing here,’’ Massachusetts Chamber president Debra A. Boronski said in a statement.
SEC says Grassley’s concerns about Vertex stock sales are `being considered’ The head of the Securities and Exchange Commission, responding to a US senator’s concerns about stock trades by executives at Vertex Pharmaceuticals Inc., said the matter was “being considered” by regulators. Mary L. Schapiro, chairman of the SEC, wrote in a letter to Republican senator Charles Grassley of Iowa that the agency does not disclose whether it is investigating a company.
A squirrel mascot named Zipper is out to pitch Necco candy lines to young consumers The New England Confectionary Co., known for such candies as Necco Wafers, the Clark Bar, and Mary Jane chews, is looking to woo some younger consumers. To that end, it hired Noonan Creative Group. One of the company’s brands is Squirrel Nut Zippers, a peanut-and-caramel chew. Noonan is using Squirrel Nut Zippers’ mascot, a squirrel named Zipper, to do a star turn in some of Necco’s latest marketing efforts.
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