News in brief
Paper machine set for Ashdown restart
Domtar Corp., which operates a paper mill in Ashdown, said Thursday it will restart a paper machine that had been shut down in August.
The A62 paper machine will resume full operation in January after a few months of production restart, Domtar said in a statement. The company said restarting the machine would cost around $ 10 million, but would add 185,000 tonnes of uncoated free paper capacity to its production network.
A portion of the increased paper capacity can be used to increase thermal coated paper capacity at Domtar’s West Carrolton, Ohio plant to meet increased demand for its point-of-sale thermal paper, Domtar said.
“As the economy begins to recover from the pandemic, demand for paper is also picking up,” said Rob Melton, senior vice president.
The Ashdown plant also produces pulp and has the potential to produce containerboard and other packaging products.
Paper Excellence in Richmond, British Columbia, announced in May that it had bought Domtar for $ 3 billion, all in cash.
– Stephen Steed
Pfizer to pay $ 345 million for increased costs of EpiPen
KANSAS CITY, Kan. – Pfizer Inc. and two of its subsidiaries have agreed to pay $ 345 million in a proposed settlement to resolve lawsuits over the price increases of EpiPen.
In documents filed Thursday in federal court in Kansas City, Kansas, New York-based Pfizer and its subsidiaries Meridian Medical Technologies Inc. and King Pharmaceuticals in Tennessee asked the court to grant preliminary approval to the settlement, the Kansas City NPR station KCUR-FM reported.
The litigation dates back to 2016, when numerous class actions were filed across the country alleging that the companies had engaged in anti-competitive behavior related to EpiPen. The cases were transferred to the Kansas court due to its centralized location.
Mylan owns the rights to the EpiPen brand, but the devices are manufactured by Pfizer. EpiPens, used to deliver the medicine epinephrine, are for the emergency treatment of anaphylaxis, an acute allergic reaction.
In 2007, an EpiPen package cost around $ 100. They now cost over $ 650 with no coupons or pharmacy discounts.
– The Associated Press
Arkansas index slips 0.66 and ends at 628.48
The Arkansas Index, a price-weighted index that tracks the state’s largest public companies, closed Thursday at 628.48, down 0.66.
“Energy and tech stocks underperformed as stocks opened lower this morning following reports of slowing Chinese growth and investor concerns about the pace of the recovery economy in the United States, “said Leon Lants, Managing Director of Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of December 30, 1997.