Amgen buying out joint venture Kirin-Amgen for $780 million
Health Care & Life Science, Latest news, TechnologyAmgen, the biotech giant based in Thousand Oaks, announced that it would buy out joint venture Kirin-Amgen, which was created to develop white blood cell booster Neupogen among other projects, for $780 million. The joint venture holds intellectual property rights for Neupogen, Neulasta, Aranesp, Nplate and brodalumab. In addition to the cash deal, Amgen will Read More →
Net income grows at Montecito Bank & Trust
Banking & Finance, Banking Industry, Latest newsMontecito Bank & Trust reported net income growth of 11.52 percent year-over-year in its earnings report for the quarter ended Sept. 30, 2017. The Santa Barbara-based bank said in a news release Oct. 27 that the higher net income was driven by loan growth of 16 percent. Deposits increased 3 percent and assets increased 3.64 Read More →
3rd quarter sales take off for missile defense company
Latest newsDefense and intelligence company Raytheon, which has large operations in Goleta, reported a 4.5 percent increase in sales for the third quarter of 2017, for a net income of $572 million. The missile systems segment led the company’s growth, with a 10 percent increase in net sales to $1.95 billion, and integrated defense systems rose Read More →
MindBody creeps closer toward profitability
Latest newsMindBody’s revenues continued its double-digit growth, and net losses fell by almost half to $3.6 million for the quarter ended Sept. 30. The San Luis Obispo-based software provider for the wellness and fitness industry saw a trickle of operating profits during the quarter. Excluding stock-based compensation and amortization of certain assets, the company posted a Read More →
Deckers halts sale hunt against investors’ wishes
Latest newsFootwear manufacturer Deckers Brands will launch a $400 million share buyback program as it wrapped up a strategic business review and simultaneously reported a 26 percent increase in its second quarter net income. In an earnings conference call on Oct. 26, the Goleta-based company said that it would no longer actively pursue a sale or Read More →
Amgen product sales slip but income stays steady
East Ventura County, Health Care & Life Science, Latest news, Tri-County Economy, Tri-County Public CompaniesNet income at biotech giant Amgen stayed flat for the third quarter, despite a slight downtick in revenues to $5.8 billion, the company reported Oct. 25. Product sales saw a slight decline, including Neupogen, Epogen and its blockbuster rheumatoid arthritis drug Enbrel, which fell 6 percent, but net income stayed steady at a little more Read More →
Forecast: Ventura County economy to contract further in 2017
East Ventura County, Higher Education, Latest news, Tri-County Economy, West Ventura CountyVentura County’s economy is expected to contract further in 2017, declining by nearly 1 percentage point. That is the prediction of the California Lutheran University Center for Economic Research and Forecasting, which will present its forecast on Oct. 26. The CERF report says the dominant economic story to emerge in Ventura County over the past Read More →
