Stories for December 2009

Thursday, December 31

Resource Nation Rides Internet Marketing Wave

Resource Nation, a Solana Beach-based operator of an Internet site connecting businesses with prescreened vendors, said Dec. 30 it more than doubled its vendor network in certain categories.

AMN Negotiates New Credit Agreement

AMN Healthcare Inc., the San Diego nurse staffing company, reported it arranged a new credit agreement with a group of undisclosed lenders of up to $150 million.

Wednesday, December 30

Shooting at Barona Leaves 2 Dead

The victim in an apparent murder-suicide shooting Dec. 29 at Lakeside’s Barona Valley Resort and Casino was revealed the following day as Raymundo Casillas.

Tuesday, December 29

Software Maker Sorenson Celebrates Growth in 2009

2009 and the nearly completed decade are getting a bad rap, says Sorenson Media in a press announcement dated Dec. 29.

Monday, December 28

SAIC Helps Shape New Air Force Command

SAIC said Dec. 28 that it received a prime contract from the U.S. Air Force Global Strike Command potentially worth $10 million.

Thursday, December 24

Amylin Shares Dip on FDA Query

Shares of San Diego-based Amylin Pharmaceuticals Inc. fell almost 10 percent Dec. 23 on news that the FDA has requested the company conduct additional safety studies on its diabetes drug, Byetta.

Pentagon Spending Plan Calls for Five Global Hawks

The Department of Defense budget for fiscal 2010 includes full funding for five Global Hawk aircraft, the robotic spy plane built by Northrop Grumman Corp.

PriceSmart Pushes to Expand in Dominican Republic

PriceSmart Inc., the San Diego operator of warehouse club stores mainly in the Caribbean region, said Dec. 22 that it purchased land in Northwest Santo Domingo in the Dominican Republic where it plans to build its third store in that nation.

Wednesday, December 23

Xenonics Holdings Reports Smaller Net Loss, Revenue Increase

Xenonics Holdings Inc., a Carlsbad-based maker of night vision products, reported a net loss of $42,000 in its fourth quarter ended Sept. 30, compared with a net loss of $1.1 million for the like quarter of 2008.

County Distributes $1.7M in Tax Refunds

Just in time for Christmas, county Treasurer-Tax Collector Dan McAllister mailed out about 2,500 tax refunds, his office announced Dec. 23.

Arena Atherosclerosis Drug Trial Ends in Disappointment

Pharmaceutical giant Merck & Co. has pulled the plug on partnership with San Diego biotech Arena Pharmaceuticals over an experimental atherosclerosis drug, Arena said Dec. 23.

Tuesday, December 22

Arena Applies to Take Weight-Loss Pill to Market

Arena Pharmaceuticals Inc. said Dec. 22 that it has filed an application with the FDA to market a twice-daily weight loss pill, sending shares up slightly on the news.

Monday, December 21

Regulators Seize Imperial Capital Bank

Imperial Capital Bank, the third-largest bank based in San Diego with $4 billion in assets and nine offices, was seized by federal regulators Dec. 18 at the close of business and sold to Beverly Hills-based City National Bank.

Regulators Seize Imperial Capital Bank

Imperial Capital Bank, the third-largest bank based in San Diego with $4 billion in assets and nine offices, was seized by federal regulators Dec. 18 at the close of business and sold to Beverly Hills-based City National Bank.

News in Brief

1st Pacific Bank of California, which terminated a sale agreement with First Business Bank in October, entered into formal agreements Dec. 15 with its two regulators, the Federal Reserve Bank of San Francisco and the state Department of Financial Institutions, the San Diego bank stated.

Plan Ensures Reliable, Affordable Water Supply

California is a unique and dynamic state with boundless opportunity. We have innovative industries, amazing people and stunning natural treasures. We also have many challenges. Our size and diversity, while assets in many ways, can complicate other issues. This is certainly the case with water policy.

Challenges Abound as Economic Concerns Linger

Experts Predict Little Growth For San Diego Economy

Home values are stabilizing, job losses have declined and the Dow Jones industrial average was still above 10,000 as of last week, all signs that a recovery is under way.

Commercial Real Estate Sector Not Likely to Rebound Next Year

REAL ESTATE: Tenants Win Rent Concessions, Landlords Try to Keep Buildings Occupied

Commercial real estate professionals in San Diego County are bracing themselves for more lean times in 2010, as the recession continues to fuel high vacancy rates and a tight credit market makes it difficult to refinance loans.

Only Keener, Innovative Businesses Will Thrive In the Next Economy

Editor's Notebook

Innovation. Remember this word as you read on. Understanding this word and its implications is essential for survival and success in the coming years for business in San Diego and throughout the U.S. As we chronicle the anticipated economic trends of the coming year in this issue of the San Diego Business Journal, no trend will be more important, more essential to our ability to participate in global markets than our ability to innovate.

Financial Forecast Offers Cautious Projection for 2010

BANKING: Triple Threat of Real Estate, Regulation and Restrained Demand Clouds Outlook

The tumult in the financial markets that began in late 2008 subsided this year on the capital markets side, but many lenders are still dealing with a plethora of bad loans, and remain very conservative in extending new credit.

Research Plus Innovation Propel Clean-Tech Growth in 2010

CLEAN TECHNOLOGY: Green to Gold, Expansion in Local Sector Promises Business Opportunities and Jobs

San Diego’s emerging clean technology cluster continues to help green the local economy. From solar power and wind technologies to clean transportation, smart sensors, energy-storage systems and biofuels, the region is chock-full of companies that are making great strides in sustainability as well as creating new jobs.

Region’s Ability to Get Defensive Gives Economy Shot in the Arm

DEFENSE: $3B Worth of Construction Work Set For Camp Pendleton

The aircraft carrier USS Carl Vinson arrives in April. The big ship’s passage through San Diego Bay will be one of the more conspicuous ways San Diego’s military-based economy will show itself.

Analysts: Tourism Industry Recovery Expected to Take Years

HOSPITALITY: Visitors to Region Spend $8B Annually

After a tough 2009 for the hospitality industry and just about every other sector, 2010’s prospects look better, but no quick upturn is expected, say economic analysts.

Health Care Reform Generates Healthy Dose of Concerns

Proposed Changes May Hurt Small Practices, Small Biz

As lawmakers inch toward compromise on Capitol Hill, health care leaders in San Diego say they’re bracing for the impacts of health care reform.

With Signs of Life, the Biotech Sector Will Hang on in 2010

BIOTECH: Companies Scramble for Cash and Suitors

Innovation will thrive. Money will be tight. Mergers and acquisitions will continue and big pharmaceutical companies will be on the prowl. There are signs of life in the life sciences industry, but there won’t be much growth, biotech insiders say.

Next Generation Wireless Tools Take Lead in Tech Advancements

Imagine your washer and dryer machines having their own Internet Protocol address, complete with wireless sensors that tell consumers and utility companies when and how much energy is being used. Rory Moore can. Moore, CEO of CommNexus San Diego, a nonprofit communications trade organization and technology accelerator, said these types of next generation technologies are being developed around San Diego County as the region continues to be a hotbed for innovative communications companies.

San Diego People

Alan Schaffer has been named vice president of business development and recently became one of four owners at Vanorsdale Insurance Services. Having worked at the company for five years, he is the youngest person in the firm’s 60-year history to become owner, at age 32. Since working with the company, he quickly became the top business development person, adding more new clients to the firm than anyone else. He now handles property and casualty insurance for business owners and is active with helping his clients with risk management.

Local Hilton, Restaurants Raise Funds to Help Feed the Hungry

Kudos/Giving

The San Diego family of Hilton Worldwide and restaurants throughout San Diego joined forces to host the second annual Hunger at Home Charity gala Nov. 21 at the Hilton La Jolla Torrey Pines. The event raised $309,000, which will be split among Feeding America San Diego, Monarch School, 211, Embrace, Network for a Healthy California, and the San Diego Rescue Mission.

Real Estate Roundup

Professional Community Management of California Inc. has gained 21 new clients in Carlsbad, Lake Forest and Riverside County. As one of the nation’s largest managers of homeowners associations, its portfolio is strengthened with the acquisition of these new clients, and an additional 5,030 units added to their property management portfolio. Two of the new clients in Carlsbad are Tramonto at Aviara and Village Woods, which consist of a 131 single-family home community and a 160-unit condominium community, respectively.

Local Cops Deliver at Rady Children’s Hospital

’Twas a few days before Christmas, and all through the house, not a creature was stirring, not even a mouse. Well, not so quiet. Police officers from throughout the county were on the stir Dec. 15 distributing thousands of stuffed teddy bears to the folks in charge at Rady Children’s Hospital. It’s an annual event that will brighten the lives of a lot of small boys and girls who visit the hospital throughout the coming year.

Friday, December 18

Local Unemployment Rate Drops

San Diego County’s unemployment rate declined in November to 10.3 percent from a revised October rate of 10.7 percent, due mainly to the hiring of temporary retail workers for the holidays, according to the Dec. 18 state Employment Development Department report.

Ambit Development Deal Worth Up to $390M

Ambit Biosciences Corp. said Dec. 18 that it has entered into a $390 million co-development and commercialization agreement with Tokyo’s Astellas Pharma Inc.

Work Begins on Border Crossing Facility

The long-planned $577 million reconstruction of the world’s busiest border crossing in San Ysidro begins this month, the General Services Administration announced Dec. 17.

Thursday, December 17

invInvestors React Coolly to Anadys Drug Study

Shares of San Diego-based drug maker Anadys Pharmaceuticals Inc. fell Dec. 17 after preliminary results of a midstage trial testing the company’s lead drug for hepatitis C failed to impress investors.

Suspect in Mortgage Fraud Case Arrested

A sixth defendant in a criminal case against a local mortgage brokerage was arrested at the San Ysidro border crossing Dec. 16, the U.S. attorney’s office said.

SAIC to Support Navy Medicine

SAIC said Dec. 17 that it received a contract to support Navy medicine that could be worth up to $20 million over five years if the government exercises all its options.

Tuesday, December 15

1st Pacific Signs Deal With Regulators

1st Pacific Bank of California, which terminated a sale agreement with First Business Bank in October, entered into formal agreements Dec. 15 with its two regulators, the Federal Reserve Bank of San Francisco and the state Department of Financial Institutions, the San Diego bank stated.

Calixa Sold in $403M Deal

Lexington, Mass.-based Cubist Pharmaceuticals has agreed to buy privately held San Diego biotech Calixa Therapeutics in a deal worth a potential $402.5 million, the companies said Dec. 14.

Amylin Shares Hover Higher on Drug Study Results

San Diego-based biotech Amylin Pharmaceuticals said Dec. 15 that its once-weekly experimental type 2 diabetes drug outperformed its own twice-daily drug in a head-to-head trial.

Monday, December 14

Evofem Raises $25M

Evofem Inc., a San Diego-based women’s reproductive health company, said it has raised $25 million from an undisclosed European private equity firm.

Sol Price Dies at 93, Leaves Legacy in Retail Industry, Wider Community

Sol Price, the visionary founder of warehouse club stores FedMart and Price Club in San Diego, has died. He was 93 years old, according to a statement released by his family.

Palomar Pomerado Health Files Suit Over Construction

Palomar Pomerado Health has filed a lawsuit in San Diego Superior Court alleging a former construction contractor billed the hospital district $5 million for work it never received or didn’t approve of under its contract.

Connect Recognizes Innovation With a Red Carpet Twist

In an Oscars-inspired event, San Diego trade group Connect honored some of the region’s most dynamic technology and life sciences innovators at its annual awards ceremony Dec. 11.

Cubic Upgrades Training Gear for Egyptian Air Force

Cubic Corp. said Dec. 14 that it will provide the latest generation of its air combat training system to the Egyptian air force. The deal is worth $8.5 million.

Orders Stack Up Neatly for Outsourced Assembly Work

MANUFACTURING: As Volume Grows, So Does Facility and Staff

Ted Fogliani sees a bright future for his Carlsbad company, Outsource Manufacturing Inc., which is moving into a new and bigger building in February.

Shipshape: Nassco Wrapping Up Banner Year

DEFENSE: Manufacturer Delivers 5 New Vessels for the 1st Time Since ’77

It’s been a milestone year for General Dynamics Nassco. The shipbuilder has delivered five new vessels this year, a feat it has not achieved in a generation.

Investors Eagerly Await Anadys’ Clinical Trial Results

BIOTECH: Firm Seeks Piece of $2B Hepatitis C Virus Drug Market

If Anadys Pharmaceuticals Inc. had a tough year convincing analysts of the value of its hepatitis C drug candidate this year, clinical trial results due out at the end of the year could settle the score.

Region in Driver’s Seat for Electric Vehicle Resurgence

TRANSPORTATION: SDG&E Plays Key Role in Making City Plug-in Ready

Clean energy has taken center stage around the globe as increased environmental responsibility and economic stimulus have fueled citizens and government leaders to rethink our “green” future.

Forbes: Balboa Park a Jewel In the Crown

SDBJ Insider

Here’s something for Mayor Jerry Sanders to brag about (which he did in a recent news release). San Diego’s popular Balboa Park is named one of the country’s best municipal parks by Forbes magazine in its Nov. 18 issue as part of its America’s Best City Parks feature.

$2.5M Face-Lift to Help Keep Sports Arena Rockin’

HOSPITALITY: Venue Opens High-End Nightclub, Adding 80 LCD TV Screens

Operators of the venerable San Diego Sports Arena are counting on a renovation project to rejuvenate the 43-year-old sports-and-entertainment venue and keep it economically viable for many years to come.

International Auto Show Shifts Into Gear

Boats and Motorcycles Added to Display Offerings

In an effort to diversify its offerings and stimulate consumer spending, the New Car Dealers Association San Diego County is adding boats and motorcycles to its vendor list for this year’s San Diego International Auto Show. The show, which originated in the 1930s, is scheduled for Dec. 30-Jan. 3 at the San Diego Convention Center and will feature new car and truck models from more than 30 manufacturers.

Genetic Privacy Raises Questions About Insurers

Health Care: Will Insurance Companies See Test Results?

A federal law designed to prevent employers and health insurers from discriminating against an individual based on their genetic predisposition to disease took effect late last month, signaling a new era where intermingling genetic advances and privacy concerns create new challenges in health care.

Regional Report

News and notes from communities around San Diego County

Susan Guenther has left corporate life for an excursion into small business.Guenther has opened the Valley Center Country Trader Coffeehouse & Shops in this little burg northeast of Escondido. The venue celebrated its grand opening Nov. 28.

News in Brief

Cubic Corp., the San Diego defense contractor and transit system equipment builder, turned in yearly sales of $1 billion for the first time, Cubic said Dec. 9.

FDA Rejection Causes Somaxon Pharmaceuticals’ Stock to Plummet

The FDA again rejected Somaxon Pharmaceuticals Inc.’s insomnia drug Silenor last week, dealing another blow to the Solana Beach-based drug maker that has seen its shares decline steadily since February.

Diamond Donors Help University of San Diego Event Sparkle

Kudos/Giving

The University of San Diego held its inaugural Founders’ Gala as part of its yearlong 60th anniversary celebration. The event was held Nov. 14 at USD and raised $520,000 for USD’s Founders’ Endowed Scholarship Fund. Donald and Darlene Shiley were the Diamond Donors for the gala …

Executive Profile

Michael Hill

Michael Hill is vice president and owner of TTS Logistics Inc., a company that specializes in the transportation, setup and dismantling of trade show exhibits as well as air, ground and ocean freight solutions, and customs brokering.

San Diego People

Quality Controlled Manufacturing Inc. has hired Rick Urban as chief operating officer. As COO, Urban is responsible for the overall day-to-day operations of machining manufacture, and will be directly involved in development of company growth strategies as well as maintaining the company’s UTC Supplier Gold status, which the company achieved in 2009. Previously, Urban was COO/CFO of Budget Car Sales, where the company received the BBB Torch Award for Marketplace Ethics. Most recently he was director of dealer development for Big Bear Choppers.

Real Estate Roundup

The student government at San Diego State University is making its mark as one of the most environmentally progressive student collegiate bodies in the nation. On Dec. 2, Associated Students of SDSU and local solar firm, Sullivan Solar Power, hosted a ribbon-cutting ceremony for the recent installation of 124-kilowatt solar photovoltaic panels at the Aztec AquaPlex, which is the campus’ most energy-intensive facility.

Employing a Flock Mentality Could Motivate Your Work Force

In order to keep up with an ever-changing economy, managers today need all the help they can get when it comes to motivating and retaining good employees.

Broadening Tax Revenue Base Would Help Cities

This recession has laid bare some long-standing problems in our private and public sector financial system. If jurisdictions are allowed to broaden their tax revenue base, the effect would be the encouragement of the kinds of higher density, mixed-use development needed in most communities.

Friday, December 11

Scripps Encinitas Receives $10M Bequest

Scripps Memorial Hospital Encinitas said Dec. 10 it has received a $10 million gift from the Leichtag Family Foundation that will help finance the building of a two-story, 60,000-square-foot critical care center that will double the size of its emergency department.

Thursday, December 10

Cubic Sales Surpass $1B

Cubic Corp., the San Diego defense contractor and transit system equipment builder, turned in yearly sales of $1 billion for the first time, Cubic said Dec. 9.

Wednesday, December 9

Dow Chemical Spins Out Pfenex

Pfenex, a new San Diego biotech specializing in strain engineering and protein production, has officially spun out of The Dow Chemical Co., Pfenex said Dec. 8.

Tuesday, December 8

Nexus Buys Aurora, Expands Product Reach

Nexus Biosystems Inc., a Poway company that provides laboratory testing tools to life sciences companies, will acquire Aurora Biotechnologies of Carlsbad for an undisclosed amount, the companies announced Dec. 7.

Monday, December 7

Zogenix Brings Home $20M in Funding

Privately held San Diego biotech Zogenix has secured an additional $20 million on its Series B financing, bringing the total raised in the round to $71 billion.

Zogenix Brings Home $20M in Funding

Privately held San Diego biotech Zogenix has secured an additional $20 million on its Series B financing, bringing the total raised in the round to $71 million.

La Jolla Pharmaceutical to Merge Into Adamis

La Jolla Pharmaceutical Co., which struggled to stay in business after the failure of its lupus drug in February, said Dec. 7 it has agreed to merge into Del Mar-based Adamis Pharmaceuticals Corp.

Nonprofit Profile

United Through Reading

Mission of organization: Our mission is to unite families facing physical separation by facilitating the bonding experience of reading aloud together.

Two County Humane Societies Merging Operations

NONPROFIT: Reducing The Amount of Animals Euthanized Key Reason for Consolidation

When two for-profit companies merge, it’s a common business transaction.But when not-for-profits merge, it’s a little different.

Shoppers on a Budget Look for Seasonal Discounts

RETAIL: Holiday Promotions Begun in Earnest to Cash in on Rising Consumer Confidence

With many consumers remaining on tight budgets this holiday season, retailers will need to adjust their prices accordingly and offer them more value for less money.

Ghostwriter For Palin Signs With Larson

SDBJ Insider

Call of the wild? KCBQ 1170 AM’s Mark Larson, who can be heard weekdays 7 to 9 a.m., is keeping busy when off-mike. Mark Larson Media Services Inc.’s SpeakersGroup.net has just signed Lynn Vincent, Sarah Palin’s collaborator on her best-selling memoir, which has taken the publishing (and political) world by storm.

Latest Study to Show if Chargers’ Stadium Can Be Financed Privately

SPORTS BIZ: Team Looks to Construct $800M Facility East of Petco Park

By March, the region will get the news on whether a new downtown stadium for the San Diego Chargers can be financed without dipping into public funds.

Biotechs Ponder IPO Strategy

Wary Investors, Uncertain Market Drive Opposing Plans

San Diego’s life sciences community could see its first initial public offering materialize this year or early next, signaling renewed hope in a recessionary market that had all but lost its appetite for risk-laden biotechs.

War Veterans Forge New Lives As Steelworkers

Quality Iron Offers Chance at Rehabilitation, Employment And Training

In a warehouse near the Gillespie Field airport, Keith Coe and Pat Frega are rapidly expanding Quality Iron Products Inc., a business that fabricates steel as it helps disabled veterans reassemble their lives.

Construction of Carlsbad Theme Park Hotel Awaits Tourism Rebound

HOSPITALITY: Legoland to Build 254-Room Property

Despite a green light from the city of Carlsbad and the California Coastal Commission to build a 254-room, Lego-themed hotel, Legoland California Resort will wait for a stronger economic upturn before making any more moves.

It’s Time for Feds to Promote Cluster Initiatives

Commentary: Editorials, letters, columns and other opinions

Business clusters have existed throughout American history. Naturally occurring clusters — like Detroit’s auto industry, Akron, Ohio’s tire plants, and Hollywood’s film studios — all developed because of a combination of geographic and natural resources exploited by local inventors and entrepreneurs.

Mobile Internet Ushers in Spirit of Democracy

Commentary: Editorials, letters, columns and other opinions

Because the Internet will soon be widely available on cell phones, the potential for a rebirth of democracy and citizen participation is promising.

Abundant Assets Position Niche Private Bank Ahead of Its Peers

Three-year-old San Diego Private Bank planned to be bigger by this time, but with assets at about $150 million and growing at an annual rate of more than 40 percent, it has to be pleased, especially in this economy.

San Diego People

Retired Rear Adm. Leendert “Len” Hering began his new job as vice president for Business Services and Administration at the University of San Diego on Dec. 1. In August, Hering retired as commander of the Navy Region Southwest after 32 years of service. He was the “Navy’s mayor” in San Diego, and managed an annual budget of $1.4 billion for an organization made up of 10 major installations, hundreds of tenants and more than 10,000 employees. Hering holds a bachelor’s degree from State University of New York Maritime College, a master’s degree in Strategic Studies and International Relations from the Naval War College, and a master’s degree in management from Salve Regina University.

Predator Unveiling Signals Expansion of Unmanned Border Protection

Dignitaries from U.S. Customs and Border Protection, the U.S. Coast Guard and General Atomics Aeronautical Systems Inc. were scheduled to unveil the maritime variant of the border agency’s Predator unmanned aircraft Dec. 7, at Aeronautical Systems’ high desert facility in Palmdale.

$1M High Note: Viterbis Sponsor Lectures, Season of Opera

Kudos/Giving

San Diego Opera received a $1 million gift from Erna and Andrew Viterbi. The first $500,000 will be used to underwrite a lecture series in conjunction with “Nabucco,” the second opera in the 2010 season, as well as the production of this opera.

Cal State San Marcos Social and Behavioral Science Building

Ground Breaking

Project description: This 106,509-square-foot building will house the social and behavioral science disciplines, including psychology, sociology, communications/mass media, economics, political science, anthropology, liberal studies, women’s studies, Native American studies and human development. The building is a venue designed to facilitate research and collaboration. The two centers, six classrooms, seven conference rooms, 13 labs and space for graduate research will be positive learning environments conducive to preparing Cal State San Marcos graduates to be insightful, service-oriented and collaborative professionals working within and for the increasingly global community.

Executive Profile: Dave Brown

Dave Brown is the CEO of Holiday Matinee, a creative studio that helps organizations manage brand identity, social media, trend spotting and philanthropic events.

New Law Leader Aims High for Raising the Technology Bar

As the newly elected president of the San Diego County Bar Association, Patrick Hosey says he will make it his mission to bring members up-to-date on the latest technologies in the field.

Regional Report

News and notes from communities around San Diego County

The San Diego/Imperial Counties Chapter of the American Red Cross will host a workplace seminar Dec. 9 for businesses interested in educating their managers about maintaining a healthy and productive work force during the swine flu pandemic.

News in Brief

Irving Hughes, the San Diego firm representing corporate tenants in leasing transactions, will underwrite the work of Alabama-based Southern Poverty Law Center.

Power Play: Adults Share the Fun at Kids’ Indoor Gym

RETAIL: Former Office Manager Fills Demand to Entertain Young And Old Alike at PlayWerx

In 2005, Joanne Coval played with the idea of opening a fun, indoor center for kids and their parents. Three years later, Carlsbad-based PlayWerx was born. But this is not your typical indoor play gym. PlayWerx — which has a unique megaplay structure, arts and crafts areas, and a library — isn’t just for kids. There’s something in it for adults, too. To make PlayWerx more appealing to parents, Coval and her husband, Larry, decided to include a café, full-service coffee bar and free WiFi.

Life Sciences Execs See Pay Rise Slightly

LABOR: CEOs’ Average Base Salary Up 3.2% in ’09

Executive compensation in the life sciences industry rose slightly this year despite economic pressures that left many companies looking for ways to cut costs.

Friday, December 4

Workshop’s Focus: Mapping Out a Career Strategy

The University of Phoenix presents a free career strategies workshop from 9 a.m. to noon Dec. 5.

Thursday, December 3

Cardium Unit Files to Bring Drug to Market

A wholly owned subsidiary of San Diego-based Cardium Therapeutics has filed for FDA approval to market a protein-based topical gel for treating diabetic foot ulcers.

Wednesday, December 2

FDA Approval Boosts Santarus Stock Price

San Diego-based specialty pharmaceutical company Santarus Inc. said late Dec. 1 that an over-the-counter version of its heartburn drug has received FDA approval, sending the company’s shares soaring on the news.

Italian Firm to Take Phenomix Drug to World Markets

San Diego-based biotech Phenomix said Dec. 2 it has granted European rights to an Italian pharmaceutical company to develop and commercialize its experimental type 2 diabetes drug.

Tuesday, December 1

Editor’s Retirement to Cap Year of Change at Union-Tribune

The San Diego Union-Tribune reported on its Web site Dec. 1 that its editor, Karin Winner, will retire at the end of the year.

Economic Index Creeps Higher, But Job Losses Mount

San Diego’s economy continued its slow recovery in the fall, according to a new reading of economic indicators from University of San Diego professor Alan Gin. The USD Index of Leading Economic Indicators rose 0.2 percent in October.

Salk Gets Stimulus Funds for Data Center

La Jolla’s Salk Institute for Biological Studies said Dec. 1 it has been awarded $4.4 million in federal stimulus money to begin constructing a state-of-the-art data center.