BOTHELL – Icos Corp. reported a net loss of $5.3 million for the second quarter, which was an improvement compared to the $8.3 million it lost during the second quarter of last year. Total revenue jumped to $34 million, from $19.6 million in the same quarter of 2000. That included $14.5 million from a license fee from Lilly Icos, a joint venture company formed with Eli Lilly to pursue Cialis, a treatment for erectile dysfunction. Total operating expenses were $28.7 million, up from $25.3 million during the second quarter of last year. Research and development expenses were up $3.1 million, to a total of $26.7 million.
BOTHELL – The Scotts Co. will evaluate a protein developed by Eden Bioscience Corp. of Bothell to see how it can be used in the $7 billion market for home lawn and garden care. Eden and Scotts announced the exclusive global business relationship Thursday. Eden now sells this technology in the agricultural market under the brand name Messenger. The agreement grants Scotts exclusive global rights to research the use of Messenger’s harpin protein technology for lawns and gardens and in trees, shrubs and other plants. Eden and Scotts also will work together to develop new products to be sold by Scotts.
HONG KONG – Pilots staging a work slowdown at Cathay Pacific Airways accused the airline Thursday of abusing their labor contract and trying to increase their workload by about 50 percent. Cathay is urging pilots to sign onto a new package of pay and working conditions by Wednesday, and union leaders said the company was using intimidation tactics to try to get its way. Cathay has written to its pilots to warn that anybody who signs the union letter – and fails to accept Cathay’s offer by Wednesday – will be viewed as having quit the company.
TOKYO – A Tokyo stock trading floor welcomed an unusual new visitor on Thursday: Ronald McDonald. McDonald’s Co. Japan listed on the Jasdaq exchange in the company’s first initial public offering outside the United States. The stocks of the fast-food burger chain received a warm reception, opening at $38 a share – $3.24 above its premarket price. “I want to pave the way for younger entrepreneurs,” said McDonald’s Japan founder and president, Den Fujita, taking a bite from a Big Mac next to the red-haired, grinning Ronald McDonald in the Jasdaq trading room.
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