Chester County Daily News Business Briefs

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Endo

Chester County Daily News Business Briefs are short summaries and links to important Chester County’s business stories not included in VISTA Today’s daily news stream.

This from Morning Call about Pennsylvania’s spiraling birthrate. Seems we’re making fewer babies these days than any other state outside of New England:

4.29.2015 BirthsPennsylvania has a baby problem: We’re not making enough of them.

The state’s birthrate was 11 for every 1,000 residents in 2013, according to a report published this year by the Centers for Disease Control and Prevention.

To put that in perspective, Pennsylvania’s birthrate was the lowest in the United States outside of New England, and it’s comparable to the rates of certain European countries said to be experiencing fertility crises. So concerned are these countries they have taken a variety of steps, ranging from the practical to the whimsical, to promote that most fundamental act of life: procreation.

Read more on Morning Call here.

Neuronetics

Malvern-based Neuronetics, which sells a noninvasive device to treat clinical depression by stimulating the brain, has raised a $34.3 million in Series F funding, according to a report in Dow Jones VentureWire. Neuronetics device sends an electromagnetic field several centimeters into the patient’s cerebral frontal cortex, the area of the brain that governs a person’s mood, according to Christopher Thatcher, Neuronetics’ chief executive. TGE Ventures of West Warwick, RI led the new funding round.

Read more in the Wall Street Journal here.

SCILEX Pharmaceuticals

SCILEX Pharmaceuticals of Malvern welcomed William Stewart and Jessica Wolfe to its executive team on Monday in Malvern, Pennsylvania, marking a milestone in the company’s proprietary drug development as it prepares for potential commercialization of its products. Stewart will serve SCILEX as vice president of market access and commercial development while Wolfe will work as director of payer advocacy and government affairs

Focused on development and commercialization of pain treatment products, SCILEX is currently developing its first product, ZTlido, a next-generation patch for the treatment of post-herpetic neuralgia, or after-shingles pain.

More on SCILEX executive hires on Pennsylvania Business Daily here.

Triumph Group

Triumph Group, Inc. (NYSE:TGI), one of Chester County’s 30 publically traded companies, announced yesterday that its Board of Directors has declared a regular quarterly dividend of $0.04 per share on its outstanding common stock. The dividend is payable June 15, 2015 to shareholders of record as of May 29, 2015.  Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies, and systems.

Endo International

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Matthew Maletta

Malvern-based Endo International plc (NASDAQ: ENDP) announced the appointment of Matthew J. Maletta as Executive Vice President, Chief Legal Officer, effective May 4, 2015. In a statement released yesterday, Endo said Mr. Maletta brings nearly two decades of legal experience in the specialty pharmaceutical industry and with private law firms, including extensive experience in M&A, corporate, securities, finance, commercial and employment law. He is assuming the role from Caroline B. Manogue, who announced her retirement in January 2015.

 

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