ExOne plans to sell $50M in new shares
Shares of ExOne Co. slid 13 percent Monday after the North Huntingdon 3-D printer maker announced plans to sell up to $50 million in new shares. The proceeds will be used for general corporate purposes, according to a registration statement the company filed in April. ExOne shares finished at $7.50, down $1.13.
Delaware fines Highmark division
Health insurer Highmark’s Delaware arm has been fined $383,000 for numerous violations between September 2013 and September 2014, including failure to pay claims in a timely manner, Delaware Insurance Commissioner Karen Weldin Stewart said. At the same time, Aetna Inc. was fined $100,000 for late claim payments and other violations between January 2010 and June 2012. A Highmark spokesman said the insurer was continuing to address the issues identified by Ms. Stewart and an Aetna spokesman said it had corrected the issues cited by regulators.
Cranberry business groups partner up
SMC Business Councils and Pittsburgh North Regional Chamber of Commerce have partnered, allowing business owners to receive discounted SMC memberships. The two Cranberry organizations offer complementary services, including opportunities for networking and professional development.
Pediatrics department chair named
Terence Dermody has been named chair of the department of pediatrics at the University of Pittsburgh School of Medicine and physician-in-chief and scientific director at Children’s Hospital of Pittsburg of UPMC. He replaces David Permutter, who left Children’s in July to become executive vice chancellor for medical affairs and dean of Washington University’s medical school in St. Louis. Dr. Dermody starts June 1.
TransPerfect opens Pittsburgh office
Language service company TransPerfect has opened offices Downtown and in Sioux Falls, S.D. The New York-based company, which was founded in 1991 and has more than 90 offices worldwide, provides translation, multicultural marketing and interpretation services.
Kohl’s may put itself up for sale
Kohl’s might put itself up for sale. In a move designed to fend off activists, the flailing department store chain is considering taking itself private or breaking off parts of its business, according to the Wall Street Journal.
Shire wins Baxalta with $32 billion bid
Shire Plc won over Baxalta Inc. by adding cash to sweeten a takeover bid worth about $32 billion and become the world’s biggest maker of drugs for rare diseases. The planned acquisition will boost Dublin-based Shire’s position in the market for rare-disease treatments. Illinois-based Baxalta will benefit from a lower tax rate by being taken over by Shire, which has a Dublin legal address despite keeping many operations elsewhere.
Coffee futures fall to lowest since Jan. 2014 on ample supply
Coffee futures tumbled to the lowest in almost two years on signs of ample global supplies amid forecasts for higher production in Brazil, the world’s top producer. Coffee has slumped 36 percent in the past 12 months.
Prescription drug prices jumped more than 10 percent in 2015
Prescription drug prices rose more than 10 percent overall in 2015 — well in excess of the U.S. inflation rate — according to an analysis by Truveris, a health care data company that tracks drug prices.
Alfa Romeo to boost dealer network for Giulia sedan
Alfa Romeo intends to expand its North American dealer network by one-third to about 200 outlets over the next 12 months to prepare for additional models starting with the delayed Giulia sedan. The division of Fiat Chrysler Automobiles NV has postponed the long-awaited model by at least three months to the third quarter to avoid disappointing buyers. The Giulia will anchor a broader push into the U.S., where Alfa Romeo currently sells only the limited-run $55,900 4C sports car.