Business

Vertex Rail anticipates October certification

August 24, 2015

(Greater Wilmington Business Journal)

Vertex Railcar has completed its first round of hiring and expects to receive certification from the Association of American Railroads in October. Vertex said last November it plans to create 1,300 jobs at a railcar-manufacturing plant in Wilmington.

Glaxo sells multiple sclerosis drug to Novartis for $1B

August 24, 2015

(WRAL TechWire)

Novartis will pay $1 billion plus royalties for the rights to GlaxoSmithKline's experimental treatment for multiple sclerosis. GSK, which employs several thousand people in the Triangle, purchased Novartis' vaccines business earlier this year, while Novartis acquired GSK's oncology unit.

$12M redevelopment project planned for downtown Wilson

August 24, 2015

(The Wilson Times)

Officials in Wilson hope the $12 million rehabilitation of a 64,000-square-foot former tobacco warehouse will be a catalyst for downtown development. Waukeshaw Development of Petersburg, Va., will convert the Hi Dollar warehouse into 88 loft apartments, plus offer retail and office space.

Targacept sale complete

August 24, 2015

(Winston-Salem Journal)

San Francisco-based Catalyst Biosciences has completed its purchase of Targacept. The drug developer will shut down its Winston-Salem operations, where three years ago it employed as many as 144 workers.

Raleigh's Sprout Pharmaceuticals is sold for $1 billion

August 21, 2015

(The News & Observer, Raleigh)

Valeant Pharmaceuticals will pay about $1 billion for Raleigh-based Sprout Pharmaceuticals, which this week received FDA approval for Addyi, a treatment for women with low sex drive. In April, Canada-based Valeant acquired Raleigh's Salix Pharmaceuticals for $11.1 billion. Sprout will remain headquartered in Raleigh.

BofA directors get raises

August 21, 2015

(The Charlotte Observer)

Eleven out of 13 members of Bank of America's board of directors gave themselves raises of about $36,000, according to a June securities filing. The board's lowest-paid member now earns almost $280,000 a year. A bank spokesman said most board members had not received raises since 2006. CEO and chairman Brian Moynihan does not receive any compensation for sitting on the board.

Woods boosts attendance at Greensboro's Wyndham

August 21, 2015

(News & Record, Greensboro)

Tiger Woods' inaugural appearance at the Wyndham Championship in Greensboro is attracting large crowds, with an estimated 24,000 people attending on Thursday. Free admissions – offered to veterans, teachers and others – have almost tripled. The golf tournament plans to cap attendance between 30,000 and 32,000 per day this weekend. 

Toll lane opponents not ready to give up the fight

August 21, 2015

(The Charlotte Observer)

Opponents of toll lanes on Interstate 77 from Charlotte to Mooresville say legislative battles will continue into 2016. A Charlotte transportation-planning group voted Wednesday to endorse the project, but Mecklenburg County Commissioner Jim Puckett says he will continue efforts to convince lawmakers to scrap plans for the express lanes.

Enviva says port terminal will be ready by spring

August 21, 2015

(Greater Wilmington Business Journal)

Enviva says its wood-pellet manufacturing plant in Sampson County and its storage-dome facility at the Port of Wilmington are expected to be complete by early 2016. The Bethesda, Md.-based company says the two facilities will create about 300 jobs.

Wells Fargo cuts investment-banking jobs

August 21, 2015

(The Charlotte Observer)

Fewer than 10 investment bankers at Wells Fargo Securities were laid off Thursday. It was unclear how many of the affected workers were in New York and how many were in Charlotte, where the unit employed about 2,000 people as recently as 2013. The San Francisco-based bank did not give a specific reason for the layoffs.