MediQuest Therapeutics Inc. of Bothell has submitted a new drug application to the U.S. Food and Drug Administration for MQX-503, a topical formulation designed to treat Raynaud’s Disease, which can cause pain in hands, feet and other extremities when they are exposed to cold temperatures. The submission must be accepted by the FDA before it is reviewed for market approval.
Newspapers gain weekday circulation
The Herald and both of Seattle’s daily newspapers saw weekday circulations grow during the six months ended March 31, bucking the industry trend. The Herald’s circulation grew by more than 2 percent — the fifth-largest jump in the nation among papers with circulations greater than 50,000 — to a daily average of 50,272, according to the Audit Bureau of Circulation. The Seattle Post-Intelligencer saw circulation grow by 1 percent, while the Seattle Times grew by 0.5 percent. Sunday circulation for all three papers declined.
SonoSite profits from higher sales
SonoSite Inc. of Bothell reported net income in the first quarter of $1.2 million, or 7 cents a share, compared with a small loss in the year-ago period. The maker of hand-carried ultrasound machines said its worldwide revenue grew by 23 percent to $52.5 million. SonoSite said it plans to grow sales and service revenue in 2008 by at least 15 percent over last year.
United, US Airways talk about merging
Moving quickly after being left at the altar by Continental Airlines, United Airlines stepped up talks with US Airways and was moving toward an agreement on joining forces to create what could be the world’s largest carrier. Representatives of both airlines declined to comment on what they called rumors about a deal, which drove up US Airway’s stock more than 20 percent and sent UAL’s down slightly.
Tyson says grain prices hurt company
Tyson Foods Inc. served notice that its customers will be paying more for their food products because the world’s largest meat producer foresees spending as much as $1 billion more than last year due to skyrocketing grain costs. Tyson reported it lost $5 million in the three months ended March 29, compared with a $68 million profit in the year-ago period.
Visa sees profit soar as more use credit
Visa Inc., the world’s largest credit and debit card processor, said its profit rose 28 percent in the first three months of the year as customers around the world charged more to their cards. Cardholder spending outside the United States grew particularly quickly, as more people in developing markets adopted plastic over cash.
Autoworkers, Ford agree in Canada
The Canadian Autoworkers and Ford Motor Co. agreed Monday to the framework of a tentative three-year contract, an agreement that could set a pattern for negotiations with the other U.S. automakers. Canadian Auto Workers President Buzz Hargrove said the deal freezes wages and cuts vacation pay.
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