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Thu. Aug. 30, 2012 Sunovion to buy Elevation Pharmaceuticals in a deal with a $100m upfront payment Sunovion Pharmaceuticals Inc, the Marlborough-based subsidiary of a big Japanese drug company, said Thursday that it has agreed to buy Elevation Pharmaceuticals Inc., a privately held company specializing in the development of aerosol therapies for patients with respiratory diseases. Sunovion said it will make an upfront payment of $100 million to the shareholders of California-based Elevation on the closing of the acquisition. The sales agreement also calls for more than $300 million in additional milestone payments if certain conditions are met.	Advertisement
HFF facilitates $59m ground lease of Boston’s 177 Huntington Ave. HFF, a provider of commercial real estate and capital markets services, said Thursday it has finalized a long-term $59 million ground lease of 177 Huntington Ave. on the Christian Science Plaza in Boston. In the transaction, HFF said it exclusively represented The First Church of Christ, Scientist, and the trustees of Church Realty Trust and procured the ground lessee, an affiliate of Beacon Capital Partners. 177 Huntington Ave. is a 26-story office tower with nearly 200,000 square feet of space.
FDA approves Ironwood’s potential blockbuster drug for constipation, irritable bowel syndrome The Food and Drug Administration said Thursday that it has approved Ironwood Pharmaceuticals Inc.’s drug to treat chronic constipation and irritable bowel syndrome. Chronic constipation affects an estimated 63 million people, and Ironwood’s drug, called linaclotide, has the potential to be a blockbuster drug, with some stock analysts projecting that the Cambridge company’s drug could ring up sales of more than $1 billion a year worldwide.
Ariad says EU regulator grants accelerated review for its cancer drug candidate Ariad Pharmaceuticals Inc. of Cambridge said the European Union’s drug regulator has granted its request for accelerated assessment of its new cancer medicine, which may lead to a faster approval. Ariad submitted ponatinib to the European Medicines Agency Wednesday for a cancer of the white blood cells known as chronic myeloid leukemia, the company said in a statement Thursday. The accelerated assessment may shave off “several months” from the typical process that takes about a year, Ariad said.
TJX reports 8 percent rise in August same-store sales TJX Cos., the Framingham company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said Thursday said that its August same-store sales rose 8 percent when compared with sales from August of last year. Same-store sales, which include sales only at stores open at least a year, are regarded as an important measure of a retailer’s performance.
Moving to a new place? Comcast wants to help with your ‘digital’ move As one of the busiest moving periods of the year approaches, Comcast Corp. is promoting its Movers Edge program as a way of making a move to a new home a little less stressful. In the Internet age, though, moving isn’t just about filling out change-of-address forms and hauling sofas and book-cases from Point A to Point B; it’s also about moving an individual’s “digital” presence, says Comcast, a company that provides of a range of entertainment and information services such as Internet service and cable TV.
Six Flags New England to add a big new water-slide complex to its line-up of rides Six Flags New England announced plans Thursday to add Bonzai Pipelines, a 65-foot tall water-slide complex featuring six drop hatch slides, to its theme park in Agawam next spring. Bonzai Pipelines will feature six looping slides set atop a 65-foot tower. After reaching the top of the tower, thrill-seekers will step into the ‘DrenalineDrop launching capsule. The floor will then drop out beneath them, sending them free-falling down the slide, twisting and turning before landing in a splash run-out. Riders will surf the 257-foot slide at up to 40 miles per hour.
Boston Properties buys San Francisco office development Boston Properties Inc. bought an office project under construction in San Francisco’s South of Market district from Rockwood Capital and TMG Partners as investors scour the city for purchases. The company’s Boston Properties LP unit paid $62.2 million in cash and 1.59 million units of preferred stock that can be sold for $50 each and carry an annual dividend yield of 2 percent, according to a filing with the US Securities and Exchange Commission.
Massachusetts consumers to get $2 million as part of proposed $69 million e-book pricing settlement Three book publishers have agreed to pay more than $69 million — including more than $2 million to Massachusetts customers — to resolve allegations that they conspired to fix prices on electronic books, Attorney General Martha Coakley said late Wednesday. Under the agreement reached with 54 attorneys general, Hachette Book Group Inc., HarperCollins Publishers LLC, and Simon & Schuster Inc. will compensate consumers who purchased so-called e-books by these publishers between April 1, 2010 and May 21, 2012.
NE economy growing sluggishly; hiring modest, outlook uncertain The New England economy grew sluggishly through the summer, helped by a rebound in tourism and business travel and the gradual recovery in the region’s residential real estate market, according to a Federal Reserve survey. The region’s software and information technology firms also reported that “business is good,” even though some high-tech companies reported slowing sales in recent months. Overall, businesses are “hiring only modestly,” the Fed’s report said. “Outlooks remain uncertain.”
Container Store, DSW, and Orvis stores are coming to Northshore Mall The operator of Northshore Mall said the Peabody shopping center will soon welcome the Container Store, DSW, and Orvis to its lineup of stores. The Container Store, which bills itself as the “original storage and organization store,” is scheduled to open in mid October. Also set to open in October is Orvis, a brand known for outdoor gear and fashions. And in November, plans call for the opening of a DSW store, which Northshore Mall describes as a “shoe sanctuary.”
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