DuPont CEO Ellen Kullman said the sale of the performance coatings unit will allow the Wilmington, Del.-based company to focus on higher-growth, higher-margin businesses. Those include agriculture and nutrition, bio-based industrials, and advanced materials, which Kullman said are the foundation of DuPont's long-term growth targets.
Japan Airlines sets price range for share sale
TOKYO (AP) â¿¿ Japan Airlines, which was bailed out by the government and removed from Tokyo stock market listing, has set the price range for a relisting that is expected to be the second biggest share sale this year after Facebook's $16 billion initial public offering.
The shares will be priced between 3,500 yen and 3,790 yen ($44.51 and $48.20) each, JAL said Thursday. That puts the value of the 175 million shares to be sold next month at up to (663 billion yen) $8.44 billion.
Japan's once-proud flagship carrier, which competes against All Nippon Airways at home, filed for one of the country's biggest-ever bankruptcies in January 2010, receiving a 350 billion yen government-orchestrated bailout.
NY AG: Janssen pays $181M over drug marketing
ALBANY, N.Y. (AP) â¿¿ Janssen Pharmaceuticals Inc. and parent company Johnson & Johnson on Thursday announced a $181 million settlement with 36 states and the District of Columbia over charges of marketing anti-psychotic drugs for non-approved uses.
New York Attorney General Eric Schneiderman, representing one of the states involved, claimed in a court filing that Janssen engaged in deceptive practices from 1998 to at least 2004 in the marketing of the drugs Risperdal, Risperdal Consta, Risperdal M-Tab and Invega. The multistate settlement comes amid a similar federal case that is still pending.
Schneiderman said the company promoted "off-label" uses of the drugs not approved by the Food and Drug Administration. For instance, Janssen is accused of promoting Risperdal, which is used to treat schizophrenia and other mental illnesses, for non-approved uses including dementia, anger management and anxiety. Janssen rewarded doctors who prescribed and promoted Risperdal for unapproved uses with lucrative consulting agreements, according to Schneiderman's complaint.