Friday, June 23, 2000

Tristate Business Summary


Milacron agrees to deal on patents

        The day after Standard & Poor's announced it was removing Milacron Inc. from its S&P 500 Index, the company said Thursday it settled a patent infringement dispute with Husky Injection Molding Systems Ltd., a Canadian maker of plastic injection molding machinery.

        Milacron filed suit this year in federal court in Cincinnati alleging Husky infringed on patents for technology linking PCs and machinery controls.

        Milacron said it granted Husky a license for the technology for an undisclosed sum and agreed to drop the court case and ITC challenge.

        The case didn't help the stock price, however, which continued to slide on the news that S&P was moving the stock from its large-cap 500 index to the S&P SmallCap 600 Index. The move, effective at the end of the day June 28, will mean popular mutual funds that track the S&P 500 will sell shares. Some funds track the SmallCap 600, but not as many to create similar demand.

        The move comes as the stock has slid from as high as $33.311/4 to a close of $14.311/4 Thursday. With it, the company's market capitalization has been cut in half.

Benefits company picks Pocketscript
        Pocketscript Inc. of Mason has reached agreement with a pharmacy benefits company to put its wireless system for drug prescriptions into the hands of 15,000 doctors, the company said Thursday.

        Express Scripts Inc. of St. Louis “will provide fee-based financial compensation, marketing support and clinical assistance” to Pocketscript, according to a press release. Express Scripts is a pharmacy benefits manager and specialty managed care company.

        For Pocketscript, “it'll put a comfortable revenue stream coming into our business,” said Dan Gibbons, director of advertising and public relations.

        — From staff reports

       



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Kroger strong; stock price isn't
Kroger deal with Winn-Dixie called off
Nine West to shut Madisonville warehouse
Old Navy Outlet rents in Hebron
Concrete company wins tax breaks
- Tristate Business Summary
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