State exec to shed light on insurance exchange costs
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Amgen teams up for Chinese joint venture
Thousand Oaks-based biotech giant Amgen has teamed up with a Chinese company for a joint venture to sell its colorectal cancer drug Vectibix there. Zhejiang Beta Pharma will be 51 percent owner of the the new firm, which will be known as Amgen-Beta Pharmaceuticals. The deal is still subject to approval from Chinese authorities. Amgen’s Read More →
Moorpark mints new public company: PennyMac workforce in city reaches 1,000
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FCAL merger with PacWest set to close May 31
Los Angeles-based PacWest Bancorp and Westlake Village-based First California Financial Group have received the go-ahead from federal banking regulators to finalize a $237 million merger. The deal, which will merge First California into PacWest and likely result in about a dozen overlapping branches being shuttered, is expected to close on May 31. The banks said Read More →
PennyMac shares jump 2.6% on second day of trading
Shares of PennyMac Financial Services climbed another 2.6 percent the day after they started trading publicly for the first time. The Moorpark-based company, founded in 2008 by former top executives at Countrywide Financial Corp., raised just over $200 million in its initial public offering of stock after opening with a share price of $18.25 on Read More →
El Encanto owner reports $8.3M loss
Orient-Express Hotels, the Bermuda-based luxury travel firm that owns and operates the newly-reopened El Encanto hotel in Santa Barbara, reported an $8.3 million loss on revenue of $103.2 million for the first quarter. That’s a slight improvement over a $14.4 million loss during the same time period last year, and officials said in the May Read More →
