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6/30/2009 3:33 AM

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Mylan, Biocon

forge agreement

CANONSBURG - Mylan Inc. said Monday it has forged an agreement with Biocon Limited, a publicly traded company on the Indian stock exchanges, for an exclusive collaboration on the development, manufacturing, supply and commericalization of multiple, high-value generic biologic compounds for the global marketplace.

Robert Coury, chairman and chief executive officer of Southpointe-based Mylan, now one of the world's largest manufacturers and distributors of generic drugs, said in a press release that the two companies bring together highly complementary capabilities that will significantly advance their efforts to secure a leading position in the emerging generic biologics industry.

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"This unique collaboration combines Biocon's scientific expertise, excellent product development track record; appreciation of complex regulatory requirements; and state-of-the-art, cost-efficient and scalable biologics manufacturing with Mylan's one-of-a-kind global commercial footprint and our regulatory expertise around the world," Coury said.

Heeter Direct, FIP

complete merger

CANONSBURG - First Impression Printing has merged with Heeter Direct and has moved its sales and management team to Heeter's Southpointe headquarters at 441 Technology Drive.

Heeter Direct President Scott Heeter said in a press release Monday that the merger became effective June 1.

Former FIP owner Gary Pandolfo, along with his wife Ellen Pandolfo, will be responsible for business development.

The companies said their combination will provide many value-added services for customers, creating a single-source solution for their graphic communications needs. Heeter Direct has become a leader in digital print-on-demand, variable data, mailing, kitting and fulfillment services while FIP has provided comprehensive mailing services including specialty gluing and poly-bagging. With the blending of these two distinguished companies, their customer bases will enjoy a superior single-source solution for all their graphic communication needs.

Treasury bill rates

mixed at auction

WASHINGTON - Interest rates on short-term Treasury bills were mixed in Monday's auction. Rates on six-month bills rose to the highest level since mid-April, while three-month bills were unchanged.

The Treasury Department auctioned $30 billion in six-month bills at a discount rate of 0.350 percent, up from 0.335 percent last week. Another $32 billion in three-month bills were auctioned at a discount rate of 0.195 percent.

The three-month rate for the past two weeks has been at the highest level since those bills averaged 0.200 percent on April 6. The six-month rate was the highest since those bills averaged 0.370 percent on April 13.

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