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LOCAL BRIEFING
Emergent BioSolutions Deal Stalls
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Emergent BioSolutions, a Rockville maker of the only U.S.-approved anthrax vaccine, said its acquisition of Protein Sciences, developer of the flu vaccine FluBlok, has been delayed.
Closely held Protein Sciences postponed a vote on the sale because of a "procedural defect" in its shareholder meeting, Emergent said. Emergent had expected the deal to be completed Monday.
FluBlok, a genetically engineered flu vaccine, may be close to winning U.S. approval and would compete with shots made by Sanofi-Aventis and GlaxoSmithKline. The Protein Science technology produces flu proteins in caterpillar cells.
FINANCING
Carlyle, Extell Plan NYC Towers
The Carlyle Group, Extell Development and RREEF Alternative Investments got $613 million in financing for two luxury residential buildings on Manhattan's Upper West Side, the largest construction loan this year.
Deutsche Bank led a group of nine banks arranging the loan, the companies said. The properties are being developed at West 62nd and West 63rd streets at Riverside Boulevard on a 13-acre plot called Riverside South.
Developers have struggled to finance new projects as banks curtail lending following the collapse of the subprime mortgage market. Manhattan luxury apartment prices are rising even as values drop nationally.
Compiled from reports by Washington Post staff writers, Associated Press and Bloomberg.
