Companies & Industries

Company News: Drugmakers, Duke Energy, Chrysler, Adobe Systems, Dalian Wanda


• Makers of brand-name drugs can be sued for a long-standing practice of paying competitors to postpone the release of cheaper generic treatments, the U.S. Supreme Court ruled in a 5-3 decision. According to the Federal Trade Commission, there were 40 pay-for-delay agreements last year, costing drug consumers an additional $3.5 billion. The industry’s trade group said the ruling would dent research.

Duke Energy (DUK) has tapped Chief Financial Officer Lynn Good as the company’s first female chief executive officer. She replaces Jim Rogers, who is retiring in the wake of Duke’s $17.8 billion bid for Progress Energy last year.

Chrysler (F:IM), which had been in a standoff with federal regulators over demands that it recall 2.7 million Jeep SUVs linked to fatal fires, has backed down. The Fiat-owned carmaker said the vehicles aren’t defective but agreed to inspect and upgrade vehicles that consumers bring back for review.

Adobe Systems (ADBE), the maker of Photoshop and other graphic-design software, posted better-than-expected quarterly results, validating its strategy to sell products via monthly subscriptions, rather than the open-ended licenses that are the industry standard. The switch had drawn criticism from many Adobe users.

• China’s Dalian Wanda Group is spending $1.6 billion to build what would be Western Europe’s tallest apartment building in London. It is also buying British yacht-maker Sunseeker International. Dalian and other Chinese developers have been investing more overseas to compensate for curbs on the property market at home.

Kyle-stock-190
Stock is an associate editor for Businessweek.com. Twitter: @kylestock

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Companies Mentioned

  • DUK
    (Duke Energy Corp)
    • $73.98 USD
    • -0.41
    • -0.55%
  • F:IM
    (Fiat SpA)
    • $7.62 EUR
    • 0.01
    • 0.2%
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