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Business watch
Ex-chief Thunder honoured
JIM THUNDER, the former hereditary chief of Buffalo Point First Nation in southeastern Manitoba, has been inducted into the Aboriginal Business Hall of Fame.
Thunder joined C.T. (Manny) Jules of the Tk'emlúps Indian Band, British Columbia, in being recognized at an event sponsored by the Canadian Council for Aboriginal Business and ESS Support Services Worldwide (a member of Compass Group Canada).
Thunder held the role of hereditary chief of Buffalo Point First Nation from 1967 to 1997. Under his leadership, he drove the implementation of a long-term economic development plan for his community.
The Canadian Council for Aboriginal Business' Aboriginal Business Hall of Fame Awards were presented at an event in Toronto this week.
Cangene makes buy
WINNIPEG-based Cangene Corp. is to acquire an investigational hemophilia compound called IB1001 from the French company Ipsen and Inspiration Biopharmaceuticals Inc., a Cambridge, Mass., company that is in bankruptcy protection.
Under the terms of the agreement, Cangene will pay approximately $5.9 million upfront for IB1001 and other acquired assets, as well as tiered royalties on net sales and additional payments if certain sales milestones are achieved.
A press release issued by Paris-based Ipsen said in addition to the up-front fee, Cangene has agreed to up to $50 million in potential additional commercial milestones.
IB1001 is being developed for the treatment and prevention of bleeding episodes in people with hemophilia B. There are two phase III clinical trials ongoing.
John A. Sedor, president and CEO of Cangene, said "The acquisition of IB1001 is consistent with our strategy of targeting late-stage products to drive growth in our commercial business."
Home Depot hiring
TORONTO, Ontario -- Home Depot Canada says it's hiring 6,700 people ahead of its busy spring season.
The home improvement chain says it is looking to fill full-, part-time and seasonal positions in sales, design and various other job categories. It says opportunities will vary in each of its 180 stores across the country.
Plane safeguards key
WASHINGTON -- Despite a battery fire in one Boeing 787 Dreamliner and smoke in another, the type of batteries used to power the plane's electrical systems aren't necessarily unsafe -- manufacturers just need to build in reliable safeguards, the top U.S. aviation safety investigator said Wednesday.
National Transportation Safety Board Chairman Deborah Hersman said she doesn't want to "categorically" rule out the use of lithium ion batteries to power aircraft systems, even though it's clear that safeguards failed in the case of a Japan Airlines 787 that had a battery fire while parked at Boston's Logan International Airport last month.
-- staff / from the news services
Republished from the Winnipeg Free Press print edition February 7, 2013 B4
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