BioChem treatment for hepatitis B wins first approval for sale

Article Abstract:

BioChem Pharma Inc. of Laval, Quebec, will finally reap profits from its new hepatitis B drug, lamivudine, which was approved by Philippine regulators for marketing in October 1998. The company hopes that the approval will set off a chain reaction in Asia, Europe and North America for the drug, which Glaxo Wellcome PLC is marketing outside Canada under the brand name Zeffix. There are about seven million Filipinos suffering from hepatitis B and the company is targeting a market of 1.5 million Filipinos with "active" chronic hepatitis B. BioChem expects to receive about C$5 million in lamivudine royalties in 1998, C$25 million to C$30 million in 1999 and over C$80 million in 2000.

Comment:

Will finally reap profits from its new hepatitis B drug, lamivudine, which was approved by Philippine regulators for marketing

Marketing procedures, Pharmaceutical Preparation Manufacturing, Philippines, Antiinfective Preparations NEC, Anti-infective agents, Shire BioChem Inc.

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Dominion Bridge unit declares bankruptcy

Article Abstract:

Dominion Bridge Inc., the operating subsidiary of Dominion Bridge Corp. that specializes in manufacturing structural steel, has filed for bankruptcy. The move forced the nearly 800 workers that the company employ across Canada to line up with creditors of the company to claim unpaid salaries. Ritcher & Associates, the bankruptcy trustee of Dominion Bridge, has already been mandated to liquidate the assets of Dominion Bridge, which include production plants in Winnipeg, Manitoba, Lachine, Quebec, Oakville, Ontario, and Richmond, British Columbia. Assets of the company is valued at around C$20 million.

Comment:

Files for bankruptcy

Steel Structurals & Piling, Iron and Steel Mills, Organizational history, Quebec, Dominion Bridge Inc.

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St. Laurent plans $56-million overhaul of U.S. mill

Article Abstract:

St. Laurent Paperboard Inc. of Montreal, Quebec, will spend $56 million to restructure the packaging mill it acquired in Virginia in 1997. St. Laurent declared that the overhaul will trim down the firm's yearly expenses by $21 million and enhance its white-top linerboard operations. The company, however, stated that the overhaul will also curtail earnings due to a one-time charge worth $13 million in the third quarter of 1998 and will result to the termination of 200 out of the 856 employees at the mill.

Comment:

Will spend $56 mil to restructure the packaging mill it acquired in Virginia in 1997

Virginia, Capital expenditures, Paperboard Mills, Linerboard, St. Laurent Paperboard Inc.

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