Thursday, January 31, 2013

Daily Business Update

 
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EDITORIAL EMAIL PUBLISHED BY   Boston.com
Daily Business Update Thu. Jan. 31, 2013
 
Iron Mountain unveils product that aims to help law firms manage their records
Iron Mountain Inc., a Boston information storage company, said that it has developed a special product for law firms. The company is calling the new product the Total Offsite Records Solution. Many law firms are under pressure to control costs and improve client service, and the Total Offsite Records Solution was specifically developed to address such issues, in part by finding efficiencies through digitization.
Greater Boston Chamber of Commerce unveils recommended corporate tax reforms
The Greater Boston Chamber of Commerce said Thursday that the Bay State’s corporate tax code needs reforming so that Massachusetts can close the competitiveness gap with other states. Massachusetts, the chamber says, has the fifth highest corporate tax burden in the country. According to the chamber’s math, Massachusetts’ corporate tax burden is 0.54 percent as a percentage of private sector GDP --- 74 percent about the national average of 0.31 percent of GDP.
Dunkin’ Donuts same-store sales in the US rose by 3.2 percent in the fourth-quarter
Dunkin’ Brands Group Inc., the Canton-based parent of Dunkin’ Donuts and Baskin-Robbins, said fourth-quarter profit rose 196.2 percent to $34.3 million even as revenues declined by 4 percent to $161.7 million. One reason for the revenue decline was a quirk in the calendar --- the fourth-quarter of 2011 had one more week that the fourth-quarter of 2012, the company said. According to Dunkin’ Brands, fourth-quarter highlights included same-store sales growth of 3.2 percent for Dunkin’ Donuts restaurants in the United States.
Dyax partners with company that will commercialze a Dyax drug in parts of Latin America
Burlington-based Dyax Corp. said Thursday that it is partnering with a Colombian company that will develop and commercialize its hereditary angiodema treatment in such Latin American countries as Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela. The strategic partnership is with Novellus Biopharma AG of Bogota. Hereditary angioedema, or HAE, is a rare acute inflammatory condition characterized by episodes of severe, often painful swelling affecting the extremities, gastrointestinal tract, genitalia, and larynx.
Thermo Fisher Scientific 4Q revenue rose 6 percent to a record $3.26b
Thermo Fisher Scientific Inc., a Waltham company that supplies laboratory and scientific instruments, said Thursday that its adjusted earnings per share in the fourth quarter grew 14 percent to a record $1.36, as revenues increased 6 percent to a record $3.26 billion. New product launches and growth in China were among the reasons cited by the company for its performance in 2012.
Report: Steward Health Care lost money in its first year of operations, but complied with conditions imposed by state
Steward Health Care System lost money in its first year of operations but complied with conditions imposed by the state in 2010 when it recommended Steward be allowed to take over the six Caritas Christi Health Care hospitals, according to a report released Wednesday by the Massachusetts attorney general’s office. The 70-page report looks at the Boston-based chain’s compliance with its commitments, such as whether it retained employees, maintained services and made capital improvements at its community hospitals, as well as its market impact.
Victims of meningitis outbreak unlikely to collect much money from compounding firm’s insurance
Victims of the deadly fungal meningitis outbreak traced to a Framingham pharmacy aren’t likely to recover much money from the company’s insurance policies, a lawyer for the bankrupt firm said at a creditors meeting in Boston Wednesday. Daniel Cohn, a Boston attorney representing the New England Compounding Center, said he was reluctant to estimate how much the company hopes to receive from the policies to pay victims because the issue is complex and subject to negotiation.
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