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Panel gives auto mall in Fishers green light
It could house up to five major auto dealerships and create about 230 jobs, according to a news release from Butler.
A Butler Nissan dealership already is there, and a few auto dealerships are nearby.
The town wants to create a tax-increment financing district to help cover $5.4 million in infrastructure improvements for the area, according to commission documents. Butler could cover some of those expenses directly.
Tax-increment financing money also could be used to pay $858,000 the town needs to acquire A&R Storage, which is in the path of a road Fishers plans to build from Ind. 37 into the auto mall.
The TIF district would stretch from just south of 126th Street to 141st Street.
The Plan Commission and Town Council called special meetings this week to review the project because Butler has certain contracts that are time-sensitive, Town Council President Scott Faultless said.
Construction will begin this spring with a new Butler Nissan building and should be complete in 2013.
Faultless said he is glad to see new investment and potential job growth in a down economy.
“I think it’s a win-win situation,” he said.
U.S. looks to export drone technology to allies
(Reuters) – Defense Secretary Robert Gates said on Thursday he hoped to export coveted U.S. drone technology to allies, despite legal hurdles, and played down the threat from rival drone programs in nations like Iran.
Gates, testifying at a Senate hearing, said it was in the U.S. interest to try to help friendly nations get drone technology, despite limitations on exports imposed by an international pact.
“There are other countries that are very interested in this capability and frankly it is, in my view, in our interest to see what we can do to accommodate them,” Gates said.
The drones have proven to be a crucial technological advantage for the U.S. military in Afghanistan and Iraq, allowing it to remotely track and kill insurgents and giving troops eyes-in-the-sky battleground imagery in real time.
The CIA has used drones armed with missiles to ramp up its covert campaign to kill al Qaeda and Taliban targets in Pakistan.
“The reality is so far we have been in situations where (drone) technology cannot be used, or has not been used against our troops anywhere,” Gates said.
But that might not remain the case, he said. He cited Iran, which he has said is providing limited support to Afghan insurgents, and which is developing unmanned aerial vehicles, or UAVs.
“Iran has UAVs and that is a concern because it is one of those areas where I suppose if they chose to, in both Iraq and Afghanistan, they could create difficulties for us,” Gates said.
Still, he called UAVs “relatively slow flyers” that could be neutralized by the Air Force if they threatened U.S. forces.
“I actually think our ability to protect our troops from these things particularly in a theater of combat like this is actually quite good,” he said.
Militant groups, as opposed to other countries, were a bigger concern when it came to the spread of drone technology.
“My worry would be capabilities like this getting into the hands of non-state actors who could use them for terrorist purposes,” Gates said.
PENT-UP DEMAND
The U.S. aerospace industry estimated in December that U.S. military demand for unmanned aircraft would double over the next five years after rising 600 percent since 2004. It is also hoping for growth abroad.
The industry wants to change the Missile Technology Control Regime, or MTCR, a pact among at least 34 countries aimed at curbing the spread of unmanned delivery systems that could be used for weapons of mass destruction.
Gates said he shared concerns of lawmakers about the spread of the technology to adversaries and “about these capabilities getting into the hands of those who are our adversaries.”
But he also said the United States had only sold UAVs to Italy and Britain so far.
“With respect to export … I think there are some specific cases where we have allies with whom we have formal treaty alliances who have expressed interest in these capabilities,” he said.
“And we have told them that we are limited in what we can do by the MTCR, but I think it’s something we need to pursue with them.”
Northrop Grumman’s Global Hawk, which provides surveillance capabilities, has drawn interest from countries including South Korea, Japan and Singapore as well as Britain, Spain and Canada, a company spokeswoman said in December.
Washington announced plans to give Pakistan surveillance drones but Islamabad also wants shoot-and-kill drones, like the Predator, which may be armed with Hellfire missiles.
S&P Improves Micron Technology’s Outlook On Industry Upswing
DOW JONES NEWSWIRES
Standard & Poor’s Ratings Services raised its outlook for Micron Technology Inc. (MU) as the chip maker’s operating trends and liquidity recover sharply on the semiconductor industry’s upswing.
Shares were up 3.9% at $10.34 in recent trading. The stock has tripled …
http://online.wsj.com/article/BT-CO-20100322-712229.html?mod=WSJ_latestheadlines
Alnylam Completes Key Technology Transfer Objectives in its Takeda Alliance and Earns $20 Million Payment
CAMBRIDGE, Mass., Mar 23, 2010 (BUSINESS WIRE) — Alnylam Pharmaceuticals, Inc.(ALNY 18.12, +0.05, +0.27%), a leading RNAi therapeutics company, today announced that it has earned a $20 million technology transfer payment from Takeda Pharmaceutical Company Limited as part of the strategic alliance the companies formed in May 2008. This payment is related to the achievement of certain pre-defined objectives in the transfer of Alnylam’s platform technology, including documents, materials, and know-how, to Takeda for the development of RNAi therapeutics. Alnylam has previously received $120 million in upfront and technology transfer payments from Takeda. In addition to this current $20 million payment, Alnylam is eligible to receive an additional $10 million in near-term technology transfer payments. Alnylam is also eligible to receive significant milestones and royalties related to the Takeda’s advancement of RNAi therapeutic products, and has retained certain product opt-in rights in the U.S. market.
“We are very pleased with the continued progress we have made in our enablement of Takeda with Alnylam’s RNAi therapeutics platform technology and intellectual property,” said Barry Greene, President and Chief Operating Officer of Alnylam. “Our partnership with Takeda has been extremely productive, and we look forward to our continued work with them in developing RNAi therapeutics on a global basis, which includes Alnylam’s opt-in right to co-develop and co-commercialize certain Takeda RNAi therapeutic products in the U.S. market.”
“We are excited by the completion of this stage in our technology transfer with Alnylam, which provides Takeda with a world-class foundation for RNAi drug discovery,” said Shigenori Ohkawa, Executive Vice President and Chief Scientific Officer of Takeda. “We are encouraged by the progress we have made to date, and look forward to advancing this important innovation to patients.”
The Alnylam-Takeda alliance, which is valued at potentially over $1 billion, represents the industry’s first and most significant RNAi therapeutics partnership between a Japan-based global pharmaceutical company and a U.S. biotechnology company. The agreement provides Takeda with broad, worldwide, non-exclusive access to and enablement with Alnylam’s RNAi therapeutics platform technology and intellectual property in the fields of oncology and metabolic disease, with the right to expand the number of therapeutic fields in the future. In addition, it includes a collaboration and cross-license of delivery technologies between the two companies, and a drug discovery collaboration on certain RNAi targets. Alnylam also has the right to opt-in and co-develop and co-commercialize Takeda RNAi therapeutic programs in the U.S. market on a 50-50 basis; the opt-in right can be exercised up until the start of Phase III clinical trials.
About Alnylam Pharmaceuticals
Alnylam is a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi. The company is applying its therapeutic expertise in RNAi to address significant medical needs, many of which cannot effectively be addressed with small molecules or antibodies, the current major classes of drugs. Alnylam is leading the translation of RNAi as a new class of innovative medicines with peer-reviewed research efforts published in the world’s top scientific journals including Nature, Nature Medicine, and Cell. The company is leveraging these capabilities to build a broad pipeline of RNAi therapeutics; its most advanced program is in Phase II human clinical trials for the treatment of respiratory syncytial virus (RSV) infection. In addition, the company is developing RNAi therapeutics for the treatment of a wide range of disease areas, including liver cancers, TTR-mediated amyloidosis (ATTR), hypercholesterolemia, and Huntington’s disease. The company’s leadership position in fundamental patents, technology, and know-how relating to RNAi has enabled it to form major alliances with leading companies including Medtronic, Novartis, Biogen Idec, Roche, Takeda, Kyowa Hakko Kirin, and Cubist. Alnylam and Isis are joint owners of Regulus Therapeutics Inc., a company focused on the discovery, development, and commercialization of microRNA-based therapeutics. Founded in 2002, Alnylam maintains headquarters in Cambridge, Massachusetts. For more information, please visit www.alnylam.com.
Alnylam Forward-Looking Statement
Various statements in this release concerning Alnylam’s future expectations, plans and prospects, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to the likelihood of Alnylam successfully achieving additional milestones, including technology transfer milestones, under its agreement with Takeda, as well as those risks more fully discussed in the “Risk Factors” section of its most recent annual report on Form 10-K on file with the Securities and Exchange Commission. In addition, any forward-looking statements represent Alnylam’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Alnylam does not assume any obligation to update any forward-looking statements.
