Triangle

Raleigh's Salix Pharmaceuticals completes purchase of San Diego drug company

January 3, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals has completed its $2.6 billion acquisition of San Diego-based Santarus. Both companies focus on sales of pharmaceuticals to treat gastrointestinal ailments; the deal gives Salix a total portfolio of 22 drugs.

Walgreen bought Kerr Drug for $173 million

December 31, 2013

(The News & Observer, Raleigh)

Deerfield, Ill.-based Walgreen Co. disclosed it paid $173 million for Raleigh-based Kerr Drug, a deal in which it acquired all 76 of Kerr's retail drugstores. When the acquisition was completed last month, Walgreen said it was closing 20 of Kerr's retail outlets, while the rest will convert to Walgreens.

Durham's BioCryst Pharmaceuticals receives more federal funds for Marburg virus treatment

December 31, 2013

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals announced it received an additonal $2.5 million in federal funding for its efforts to develop a treatment for Marburg virus disease. The National Institute of Allergy and Infectious Diseases awarded the Durham drug development company $5 million in September.

State tax overhaul goes into effect Jan. 1

December 30, 2013

(The News & Observer, Raleigh)

Major state tax changes will take effect Wednesday, including a lower 5.8% flat rate for personal income tax and an expansion of the state sales tax to include service contracts.

WakeMed, Duke receive Medicare approval for profit-sharing programs

December 24, 2013

(The News & Observer, Raleigh)

WakeMed Key Community Care and Duke Connected Care are among seven accountable-care organizations in North Carolina approved by Medicare to launch health-care management systems that will monitor patients after they leave the hospital, reducing unnecessary hospital visits and medical services.

Raleigh's Highwoods trims portfolio by selling $88.8 million in assets

December 23, 2013

(The News & Observer, Raleigh)

Raleigh real estate investment trust Highwoods Properties has sold $88.8 million of its assets, including eight buildings in Greenville, S.C. and its ownership stake in a Cary apartment complex.

Court rejects Novant's bid to build Wake County hospital

December 20, 2013

(The News & Observer, Raleigh)

The N.C. Court of Appeals has denied Winston-Salem-based Novant Health's application to build a hospital in Holly Springs. The ruling upholds the N.C. Department of Health & Human Services' 2012 decision to allow Raleigh-based Rex Healthcare to build a 50-bed hospital there. A spokeswoman said Novant is deciding whether or not to appeal the decision.

Sanford yarn manufacturer sold to private equity firm

December 20, 2013

(The News & Observer, Raleigh)

American Securites has acquired Frontier Spinning Mills, a Sanford-based yarn-maker that employs 1,076 at its four plants in North Carolina and Alabama. Terms of the deal were not disclosed.

Chicago investor pays $24.5 million for Raleigh apartments

December 19, 2013

(The News & Observer, Raleigh)

The Landings apartment complex in north Raleigh has been sold to Chicago-based Redwood Capital Group for $24.5 million. The investor owns and operates 27 apartment properties in the U.S., including six in North Carolina.

Construction underway on Centennial Campus office building

December 19, 2013

(The News & Observer, Raleigh)

Construction has begun on the 145,000-square-foot Alliance Center I building on N.C. State University's Centennial Campus and is expected to be complete by the first quarter of 2015. The office building was first proposed in 2008 but construction was delayed until the developer secured financing for the project. The developer says the property is 70% preleased, though he declined to name tenants.

State sues online lenders over illegal interest rates

December 17, 2013

(The News & Observer, Raleigh)

N.C. Attorney General Roy Cooper said the state has issued four lawsuits against online lenders he says were charging illegally high interest rates of up to 343%. South Dakota-based Western Sky Financial, which lured borrowers through TV advertisements it aired in North Carolina, said its loans did not have to comply with state laws because it was based on an Indian reservation.

Durham's Cree Inc. awarded tax credits for LED plants

December 16, 2013

(The Herald-Sun, Durham)

Cree Inc. will receive $30 million in tax credits from the U.S. Department of Energy for expansion of its LED light-manufacturing operations in Durham and Racine, Wis. Twelve businesses were awarded the tax credits last week for clean-energy manufacturing initiatives.

 

Blue Cross of NC allowing small businesses to keep current plans for 2014

December 16, 2013

(The Winston-Salem Journal)

Blue Cross and Blue Shield of North Carolina will offer small businesses who are current customers the option to keep their existing health insurance plans into 2014 without adopting new market rule changes.

Approval rating for Gov. McCrory climbing

December 16, 2013

(The News & Observer, Raleigh)

The approval rating in December for Gov. Pat McCrory is 42%, up from a low of 35% in September, according to a  poll of registered voters from Public Policy Polling. The Democratic firm reported McCrory's overall performance rating was still negative, with 47% disapproving of the governor's actions.

Judicial Watch gets involved in lawsuit over election law changes

December 16, 2013

(The News & Observer, Raleigh)

Judicial Watch, a conservative watchdog organization, filed a motion on Friday to intervene on behalf of state lawmakers in a lawsuit filed in August by voter-rights advocates seeking to overturn sweeping election law changes.

Commerce will name new recruitment agency CEO by year-end; 61 workers impacted

December 13, 2013

(The News & Observer, Raleigh)

Commerce Secretary Sharon Decker said 61 state workers will be affected when the department moves its business recruitment and marketing operations to a private nonprofit, costing the state up to $1.8 million in severance payments. Decker said some of the workers may find other jobs in state government and some may work for the new agency. She also said she expects to hire a CEO for the nonprofit by the end of the year.

Raleigh's Red Hat expands partnership with Dell

December 13, 2013

(The News & Observer, Raleigh)

Raleigh-based Red Hat is expanding its partnership with Austin, Texas-based Dell to develop the next generation of its software platform for cloud-based computing. The new platform is being developed for corporate customers who want to use "private" clouds internally. 

Toshiba Global Commerce leases Durham space for manufacturing

December 13, 2013

(The Durham Herald-Sun)

Toshiba Global Commerce Solutions signed a lease for an 82,000-square-foot space near Research Triangle Park in Durham for manufacturing, repair and assembly operations for its point-of-sale technology business.

Commerce will name new recruitment agency CEO by year-end; 61 workers impacted

December 13, 2013

(The News & Observer, Raleigh)

Commerce Secretary Sharon Decker said 61 state workers will be affected when the department moves its business recruitment and marketing operations to a private nonprofit, costing the state up to $1.8 million in severance payments. Decker said some of the workers may find other jobs in state government and some may work for the new agency. She also said she expects to hire a CEO for the nonprofit by the end of the year.

Duke University survey reveals Obamacare will curb hiring

December 12, 2013

(The News & Observer, Raleigh)

About 10% of leading corporate executives say the Affordable Care Act will cause layoffs at their companies, according to an economic survey conducted by Duke University and CFO Magazine. Overall, companies reported they still plan to increase employment in 2014, but at a slower pace than they would without the law, and will hire more part-time employees.