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Winnipeg Free Press - PRINT EDITION
Business Watch
Kane Biotech files bone patent
WINNIPEG company Kane Biotech Inc. has filed for a patent on a new bone-tissue regeneration technology.
The new patent covers the invention of a unique combination product using Kane's competence stimulating peptide (CSP) technology to help grow bone cells by enhancing bone-cell binding and bone-tissue regeneration.
The company's entry into this $32-billion global market is in addition to Kane's primary work in the development and commercialization of products that prevent and remove microbial biofilms.
Kane's invention has several potential uses: repairing dental bone defects; filling tooth extraction sites or sinus elevation grafting; treatment of fractures; using as a filler in bone; prevention of decrease in the bone substance related to osteoporosis and prevention of fractures associated with osteoporosis and rheumatoid arthritis.
Canadian economic stall seen
OTTAWA -- Economists widely expect the Canadian economy stalled in the second quarter and may have even contracted slightly amid the global economic slowdown.
"It is going to be a hair within positive or negative, but the balance is slightly tilted to the negative," CIBC chief economist Avery Shenfeld said Tuesday. "Either way it is essentially a flat profile for the economy."
Statistics Canada is expected to report the country's second-quarter gross domestic product results this morning, and a reading that economic growth was slower or even reversed course a little would indicate the economy is still struggling to throw off the effects of the recession.
More products from Valeant buy
MONTREAL -- Valeant Pharmaceuticals International Inc. expects to boost its lineup of non-prescription products with the friendly takeover of Cold-FX maker Afexa, bidding $76-million Tuesday to far outstrip a hostile offer by Montreal's Paladin Labs.
The Valeant bid was well above Paladin's $56.7-million offer and shares in Afexa closed up 20 per cent in trading to match Valeant's offer price of 71 cents, a sign the market is betting Valeant will succeed.
Scotiabank cool amid turmoil
TORONTO -- The stock market's roller-coaster ups and downs this summer will cut into Scotiabank's profits, but it is well-prepared to weather the volatility, the bank said Tuesday after announcing its third-quarter profit was up 18 per cent from a year earlier.
"However, we do expect the impact to be mitigated by our global insurance businesses, which continue to perform strongly," said Chris Hodgson, the bank's head of global wealth management.
U.S. consumer confidence down
NEW YORK -- A private research group says American consumers' confidence in the economy in August dropped almost 15 points to its lowest level since April 2009.
It was the lowest level since April 2009 when the reading was 40.8. The level was far below the 53.3 analysts had expected.
-- from the news services
Republished from the Winnipeg Free Press print edition August 31, 2011 B5
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