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Valeant Pharmaceuticals International Inc. said Friday it is investing $27.5 million in its Canadian manufacturing and export capacity with plans to upgrade facilities in Steinbach, Manitoba and Laval, Quebec. The investments include $8 million to cover the costs of the transfer of North American production of Xifaxan (rifaximin) and Apriso (mesalamine). Xifaxan is a treatment for hepatic encephalopathy and irritable bowel syndrome and Apriso is used to treat ulcerative colitis. Another $12.5 million will be invested to transfer production of Arestin (minocycline hydrochloride) to Laval. Arestin is an antibiotic treatment for periodontal disease. Shares were up 1.2% in premarket trade, but are down 78% in the year to date, while the S&P 500 has gained 1.7%.

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From:: Stock Market News

Valeant Pharmaceuticals International Inc. said Friday it is investing $27.5 million in its Canadian manufacturing and export capacity with plans to upgrade facilities in Steinbach, Manitoba and Laval, Quebec. The investments include $8 million to cover the costs of the transfer of North American production of Xifaxan (rifaximin) and Apriso (mesalamine). Xifaxan is a treatment for hepatic encephalopathy and irritable bowel syndrome and Apriso is used to treat ulcerative colitis. Another $12.5 million will be invested to transfer production of Arestin (minocycline hydrochloride) to Laval. Arestin is an antibiotic treatment for periodontal disease. Shares were up 1.2% in premarket trade, but are down 78% in the year to date, while the S&P 500 has gained 1.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Albermarle Corp. announced Friday an agreement to sell its Chemetall Surface Treatment business for $3.2 billion in cash to Germany-based BASF SE. The sale of the business, which Albermarle acquired as part of its purchase of Rockwood Holdings in January 2015, is expected to be completed by the end of the year. Chemetall is a supplier of surface treatments for metal, plastic and glass substrates. Albermarle’s stock, which was still inactive in premarket trade, has run up 43% year to date, while the S&P 500 has gained 1.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Mobile telecoms equipment maker Ericsson is under a corruption investigation by U.S. authorities over its activities in China, Swedish newspaper Svenska Dagbladet reported Thursday, citing unnamed sources. The Swedish company has confirmed the investigation by the U.S. Securities and Exchange Commission and the Department of Justice, the newspaper said Friday. Ericsson, the DOJ and SEC had not responded to requests for comment at the time of writing. Ericsson shares fell 1.7% on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Rock singer Meat Loaf collapsed during a performance in Canada on Thursday, according to media reports. The 68-year-old dropped on stage shortly after 9:30 p.m. in Edmonton at the Jubilee Auditorium, according to an Edmonton Journal report. He was rushed to the hospital, reports said. There was no public update on his condition early Friday. Meat Loaf, whose birth name is Marvin Lee Aday, earlier this week postponed a concert in Calgary due to illness, according to his Facebook page.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Rock singer Meat Loaf collapsed during a performance in Canada on Thursday, according to media reports. The 68-year-old dropped on stage shortly after 9:30 p.m. in Edmonton at the Jubilee Auditorium, according to an Edmonton Journal report. He was rushed to the hospital, reports said. There was no public update on his condition early Friday. Meat Loaf, whose birth name is Marvin Lee Aday, earlier this week postponed a concert in Calgary due to illness, according to his Facebook page.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News