Mylan issues drug recall
Mylan Inc. issued a nationwide recall of 1,184 cartons of diltiazem HCL extended-release capsules made at its Morgantown, W.Va., plant because of out-of-specification test results, according to a Food and Drug Administration enforcement report. The capsules, packaged in blister cards, are used to treat high blood pressure and chest pain known as angina.
GNC approves dividend
Board members for Pittsburgh-based GNC Holdings Inc. board have authorized a third-quarter cash dividend of 16 cents per share of the company’s common stock. The dividend will be paid on or about Sept. 26 for those holding stock as of Sept. 12.
Allegheny Valley Bancorp said net income for the second quarter doubled to $905,000, or 91 cents per share, up from $436,000, or 45 cents, in the same three months last year as net interest income and noninterest income rose.
Molson Coors CEO retiring
Molson Coors Brewing President and CEO Peter S. Swinburn, 61, will retire at the end of the year. The brewing company said Friday that he will be succeeded in the posts by Mark R. Hunter, who currently serves as CEO and president of Molson Coors Europe.
Lyft expanding into NYC
The on-demand ride-sharing app Lyft planned to start limited service in New York City on Friday night after reaching agreement with officials to resolve regulatory issues that prompted a lawsuit by the state.
Durable goods orders rise
Orders for long-lasting manufactured goods rebounded in June after a May decline. Orders for durable goods increased 0.7 percent in June on a seasonally adjusted basis following a 1 percent decline in May, the Commerce Department reported Friday.
From staff and wire reports