Compiled by Purnima Mudnal
Costa Mesa-based Valeant Pharmaceuticals International wrapped up its buy of a hepatitis C drug from Brisbane-based InterMune Inc. for $113.5 million plus $20 million in milestone payments through 2009. The drug, Infergen, originally was developed by Amgen Inc. and debuted in the U.S. in 1997 Newport Beach chipmaker Conexant Systems Inc. said it plans to invest $250 million in India during the next five years as part of its ongoing expansion including hiring, research and development, facilities and equipment. Conexant employs 775 people in India, up from about 200 people a year ago.
Costa Mesa-based Irvine Sensors Corp. bought 70% of Richardson, Texas-based Optex Systems Inc. for $14 million. The company plans to buy the rest of the company in March after getting shareholder approval. The total price for Optex could be $24 million when the deal is finalized … Aliso Viejo’s Quest Software Inc. bought New Zealand software maker AfterMail Ltd. for $14.7 million. AfterMail could get up to $30 million more if performance goals are met through 2009. Wellington-based AfterMail makes software that businesses use to store e-mail.
Allergan Inc. said a federal court granted the Irvine drug maker a temporary restraining order against a Canadian rival seeking to sell a generic version of its treatment for itchy eyes. The restraining order, against Ontario’s Apotex Inc. and two related companies, was issued late last month.
Shares of Impac Mortgage Holdings Inc. fell sharply after the Newport Beach-based real estate investment trust reduced its fourth-quarter dividend. The company’s directors approved a fourth-quarter dividend of 20 cents a share late last week. That’s down from 45 cents a share for the prior quarter and 75 cents a year ago. Impac officials blamed rising short-term interest rates and increased levels of mortgage prepayments for a drop in the company’s recent net interest margins Newport Beach-based William Lyon Homes Inc. reported total orders for the fourth quarter fell 7% to 460 homes. But the homebuilder said it closed sales on 1,468 homes last quarter, up from 1,210 a year ago Gardena’s Overton Moore Properties said it plans to buy a 50.3-acre site in Seal Beach where 13 industrial buildings are planned. Overton is buying the land from Irvine-based Boeing Realty Corp., the real estate arm of Boeing Co. Terms of the sale weren’t disclosed San Juan Capistrano-based Birtcher Anderson Properties sold its 100,000-square-foot retail and office complex Plaza del Lago to San Diego pension fund adviser Washington Capital Management for $42 million. The Mission Viejo center is full Santa Ana-based First American Corp.’s Thomas A. Klemens, 55, passed away after suffering from cancer for two years. Klemens joined First American in 1985 as vice president and controller.
Irvine auto financier WFS Financial Inc. settled a case with the Alaska Hotel and Restaurant Employees Pension Trust over its acquisition by Charlotte, N.C.-based Wachovia Corp. WFS Financial is set to pay the fund $550,000 for legal expenses and will disclose additional details about the buy Irvine-based home loan lender Greenlight Financial Services laid off an undisclosed number of workers amid rising interest rates that have slowed mortgage activity.
A pair of Quantum Fuel Systems Technologies Worldwide Inc.’s hybrid vehicle fuel programs received $7 million in funding from the Department of Defense. Irvine-based Quantum is developing vehicles that run on fuel cells for the Army.
Engineering services company Fluor Corp. said it plans to launch a healthcare sector construction unit. The company hired four executives formerly at Hospital Corp. of America and set up an office in Nashville, Tenn., as part of the effort … Brady Corp. of Milwaukee said it’s buying J.A.M. Plastics Inc., an Anaheim maker of badge holders and other products. Terms of the sale weren’t disclosed. J.A.M. has yearly sales of about $10 million and employs about 80 people Raleigh, N.C.-based Moveable Cubicle Inc., a storage leasing company, opened an office at 193 Avenida La Pata in San Clemente Anaheim-based Pacific Sunwear of California Inc. said it posted a modest 1% rise in December same-store sales, versus a year earlier, while Foothill Ranch-based Wet Seal Inc.’s sales surged 38.5% Same-store sales at Irvine-based Taco Bell Corp. rose 6% in December from a year ago, said parent Yum Brands Inc. of Louisville, Ky. Outback Steakhouse Inc. said same-store sales at its Newport Beach-based Fleming’s steakhouse unit were up 13.1% in December Sales at Orange County-based auto making units were mixed in December, versus a year earlier: Brea-based American Suzuki Motor Corp. jumped 28% to 6,662 autos; Fountain Valley-based Hyundai Motor America Inc. gained 16% to 43,021; Irvine-based Mazda North American Operations rose 8% to 19,156; Cypress-based Mitsubishi Motors North America Inc. logged a 13.2% decline to 9,673; and Irvine-based Kia Motors America Inc. dropped 6.6% to 18,767 vehicles Disneyland Resort raised daily admission prices by $3 to $59 for adults and $49 for children ages 3 to 9.
