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Swiss drug maker Novartis AG (NVS) said Saturday its investigational heart failure drug LCZ696 was found to be superior to enalapril on key endpoints in a heart failure study. In the Paradigm-HF trial, LCZ696 cut cardiovascular deaths by 20 percent compared with enalapril. Enalapril is an angiotensin...

Lockheed Martin (LMT), Saturday announced its partnership with Warsaw University has demonstrated the first phase of flight test and integration of unmanned aircraft platforms with an autonomous mission control system. Professor Janusz Narkiewicz, the leader and scientific manager of the project from...

Novartis (NVS), revealed its investigational heart failure medicine, LCZ696, which was considered to be superior to ACE-inhibitor enalapril on key endpoints in a heart failure study. LCZ696 is an Angiotensin Receptor Neprilysin Inhibitor and has a unique mode of action which is thought to reduce the...

Medical device company ArthroCare Corp.'s (ARTC, ARTC.PK) ex- chief executive officer Michael Baker and the company's former finance chief Michael Gluk were sentenced to imprisonment on Friday, after they were found guilty of plotting a $750 million securities fraud scheme. The court sentenced Baker...

Global alternative asset manager Carlyle Group L.P. (CG) has agreed to pay $115 million to settle a collusion case, which accused the company for conspiring with other private-equity firms to not to bid against one another in eight corporate takeovers that happened during the mid-2000s, according to...

Canadian coffee and dough-nut chain Tim Hortons, Inc.(THI, THI.TO) will have to pay C$345 million as termination fee to Burger King Worldwide, Inc. (BKW), if the former backs out from the $11 billion merger deal, stated a Burger King regulatory filing. Meanwhile, as per the filing, Burger King has...

Semiconductor company Microchip Technology Inc (MCHP), which held preliminary talks with CSR plc (CSRE, CSRXF.PK, CSR.L), including the possibility of a merger, said Friday that any offer for CSR is likely to be solely in cash, although Microchip reserves the right to vary the form of the consideration...

Fairfax Financial Holdings Ltd (FFH.TO, FFH_U.TO) Friday agreed to acquire all of the outstanding common shares of Canadian pet insurance provider Pethealth Inc (PTZ.TO) for $2.79 per share in cash. Also Fairfax will buy all of the outstanding preferred shares of Pethealth for a purchase price of...

Diversified utility company Vectren Corp (VVC) Friday closed the sale of its coal mining subsidiary, Vectren Fuels Inc, to Sunrise Coal LLC, an Indiana-based unit of Hallador Energy Coy (HNRG). The deal was announced in July. Prior to the sale, Vectren Fuels owned three underground coal mines in...

Briggs & Stratton Corp. (BGG) announced that it has acquired U.S. based Allmand Bros., Inc. for a total consideration of about $62 million in cash for all outstanding shares of Allmand, net of acquired cash. It is noted that Briggs & Stratton financed the transaction from cash on hand. Founded...

Fiber optic connector maker Amphenol Corp (APH), Friday agreed to buy Casco Automotive Group for about $450 million, subject to customary closing adjustments. Casco is a unit of Cap-Con Automotive Technologies Ltd, owned by a private investment fund managed by Jordan Co II L.P. and Cap-Con management....

Oracle Corp (ORCL) has failed in its efforts to reinstate a $1.3 billion jury award against German software maker SAP for copyright violations after a federal appeals court on Friday ruled that the award was excessive and based on speculation. Oracle, based in Redwood City, California, in a 2007 lawsuit,...

Pfenex Inc. (PFNX) posted second-quarter net loss attributable to common stockholders of $2.63 million or $1.67 per share, wider than $1.60 million or $1.04 per share in the comparable quarter last year. Revenue for the latest second quarter rose to $3.27 million from $2.31 million in the year-ago...

Donegal Group Inc. (DGICA) announced that its chief executive officer or CEO, Donald Nikolaus, will be on a temporary medical leave of absence. The Board has named Kevin Burke to serve as DGI's acting chief executive officer during Nikolaus' recovery period. The company stated that Nikolaus will continue...

Reynolds American Inc (RAI) and Lorillard Inc (LO) said Friday the Federal Trade Commission has requested for additional information related to Reynold's pending acquisition of Lorillard and divestiture of some brands to Imperial Tobacco Group plc (IMT.L). The additional information was part of a...