Business

Mayne Pharma plans $65M expansion, 110 jobs in Greenville

August 28, 2015

(The News & Observer, Raleigh)

Mayne Pharma plans to invest $65 million in a manufacturing plant and add 110 jobs to its existing 350 in Greenville. Average annual salary will be $60,000. The Australian drugmaker acquired Greenville-based Metrics in 2012. Mayne's products include treatments for acne, fungal infections and bacterial infections. The new plant will also provide contract-manufacturing services.

Bissell plans 10-story spec building in Charlotte's Ballantyne

August 28, 2015

(The Charlotte Observer)

The Bissell Corporation plans to build a 10-story, 287,500-square-foot office building in Charlotte's Ballantyne area, which is almost 95% occupied. Construction could start as early as next week and should be complete by November 2016. A 150-room hotel is also planned.

LabCorp ordered to pay part of $50M fine

August 28, 2015

(The Times News, Burlington)

A Washington state court ruled this week that LabCorp and Valley Medical Center near Seattle must pay $50 million to a Washington couple whose son was born with birth defects. A subsidiary of the Burlington-based company processed a test designed to detect a rare genetic disorder during pregnancy, but the couple said the doctor who submitted the results did not include important family history information.

Wilmington's Live Oak Bank adds new lending niche

August 28, 2015

(Greater Wilmington Business Journal)

Live Oak Bank, named the best bank to work for by American Banker magazine, will begin offering SBA loans to independent insurance agents. The Wilmington-based lender raised about $82 million in its public debut in July.

Lenovo's Jay Parker resigns

August 28, 2015

(The News & Observer, Raleigh)

Jay Parker, who became senior vice president of Lenovo's enterprise business in March, has resigned. Parker joined Lenovo in 2007 and was previously president of North American operations. The No.1 PC-maker's North American headquarters are in Morrisville. The company announced this month it was laying off 3,200 workers worldwide, including 230 in the Triangle.

Belk would pay $80 million fee if it backs out of Sycamore deal

August 28, 2015

(The Charlotte Observer)

Belk, which agreed to be bought by New York's Sycamore Partners for $3 billion, would have to pay $80 million if the Charlotte-based department store chain backs out of the deal. Sycamore would owe Belk $165 million if it terminates the contract, securities filings show.

Raleigh's Ziptronix acquired for $39M

August 28, 2015

(WRAL TechWire)

Tessera Technologies, a Silicon Valley semiconductor company, paid $39 million for Raleigh-based Ziptronix, a company spun out of RTI International in 2000.

High Point group courts Trader Joe's

August 28, 2015

(High Point Enterprise)

A group of High Point residents is urging Monrovia, Calif.-based grocery retailer Trader Joe's to open a store in the city. Bring Trader Joe's to High Point's Facebook page has more than 6,000 followers. The company's only Triad location is in Winston-Salem; plans for a Greensboro store were canceled after local residents protested the rezoning for the proposed site.

Danish drugmaker Novo Nordisk adding 691 jobs near Clayton

August 27, 2015

(The News & Observer, Raleigh)

Novo Nordisk will invest up to $1.7 million and add nearly 700 jobs at a new Johnston County plant. The drugmaker, which also considered its headquarters country of Denmark for the expansion, already employs 719 people in Clayton. The new plant will make ingredients for diabetes products. Jobs will pay an average annual salary of $68,420.

Blue Cross and Blue Shield blames ACA for $50.6M loss

August 27, 2015

(The News & Observer, Raleigh)

The state's largest health insurer says it spent $365 million more on medical claims in 2014 than was required under the Affordable Care Act. The company says the excess spending resulted in a $50.6 million net loss. Blue Cross has requested a 35% rate hike for its ACA customers; the request is under review by the N.C. Department of Insurance.