The European Patent Office has upheld patent rights held by Verathon Inc., a Bothell-based medical device company, against a challenge from a Scottish competitor. In a related action, Verathon’s Canadian subsidiary filed a patent infringement lawsuit against the competitor, Aircraft Medical Ltd., seeking an injunction and 37 million British pounds in damages. Both Verathon and Aircraft Medical make video laryngoscopes, which use tiny cameras to give doctors a clear view of a patient’s airway.
CombiMatrix posts smaller sales, loss
Mukilteo’s CombiMatrix Corp. saw revenue during the third quarter of $1.68 million, a drop of 9 percent from the same quarter last year. More than $1 million of its revenue came from sales of the biotechnology firm’s laboratory equipment and services, with government contracts providing the rest. Operating expenses for the quarter totaled $5,571,000, down about $1.5 million from the previous year. The overall net loss for the quarter was $3.4 million.
North County Bank sees income grow
County Bancorp Inc., parent of North County Bank, reported assets grew to $264 million during the third quarter, 37 percent above the same quarter last year. The Arlington-based bank reported net income of $2.36 million, up from $1.7 million in the prior-year quarter. North County saw its loans grow by 41 percent, to $227 million as of Sept. 30, and deposits grew by 37 percent.
Cascade Natural Gas rates decrease
The state Utilities and Transportation Commission approved an 18 percent rate cut for customers of Cascade Natural Gas, which serves parts of northern Snohomish County and Island County. The average residential customer of Cascade will see his or her monthly bill drop by about $13 starting Nov. 1. This month, a 13-percent rate cut took effect for Puget Sound Energy’s natural gas customers.
‘Diddy’ to promote costly vodka brand
Hip-hop mogul Sean “Diddy” Combs has inked a multiyear deal in which he’ll help develop the Ciroc brand — one of Diageo PLC’s super-premium vodka lines — for a 50-50 share in the profits. Diageo said the agreement could be worth more than $100 million for Combs and his company, Sean Combs Enterprises, over the course of the deal, depending on how well the brand performs.
Amgen sees profit fall, flat revenue
Biotech company Amgen Inc. reported flat revenue and a lower profit in the third quarter as the drugmaker continued to deal with a blow to its business that had been dealt by federal regulators. The California-based company, with operations in Seattle and Bothell, reported net income of $201 million, or 18 cents per share, for the quarter ended Sept. 30, down 82 percent from $1.1 billion in the same period last year.
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