As reported on the Times Online website, in April 2010, inflation hit a 17-month high of 3.7 per cent. This was well above the Bank of England’s 2 per cent target. This increase in inflation has had an knock-on effect on the science and engineering industries.
BAE Systems: The defence group has purchased four shipyards in the US for £238 million from Atlantic Marine, a privately held company. The yards have generated profits of $38 million.
Larsen & Toubro: The Indian engineering company has reported impressive quarterly results and is expecting a 20 per cent growth in revenue in the current fiscal year. This has been due to a pickup in orders which has sent shares surging.
Pfizer: The US pharmaceutical giant has announced that it will cut 6,000 pharmaceutical jobs. Read more at CK Clinical.
AstraZeneca: The pharmaceutical group has said to have settled it’s US patent dispute with Teva Pharmaceuticals, the Israeli generics company. AstraZeneca will allow Teva to sell a generic version of their Crohn’s disease drug, Entocort.
Ark Therapeutics: The gene therapy company has ended discussions about the sale of the company. However, they are still in talks about selling different parts of their business. Another blow for the company was their failure to get approval in Europe for Cerepro, a brain tumour treatment.
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