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Blueprint Medicines to buy oncology company


Blueprint Medicines to buy oncology company

Cambridge-based Blueprint Medicines will acquire oncology company Lengo Therapeutics by the end of the year, according to a Monday announcement. The sale — $250 million in cash with another $215 million in “potential payments” — will give the biotech company control of Lengo’s LNG-451 compound, a potential treatment for non-small cell lung cancer. Blueprint Medicines will also receive additional preclinical precision oncology programs and research tools to help with drug discovery efforts in the future. Blueprint won approval for its first drug, a precision medicine that shrank tumors from an ultra-rare form of gastrointestinal cancer in January 2020. — DITI KOHLI



Prosecutor in opioid trial joins private firm

A federal prosecutor who helped persuade a Boston jury to convict the founder and four former executives of a drug company of bribing medical practitioners to prescribe a highly addictive opioid painkiller is joining a law firm where his work will include defending people accused of health care fraud. David Lazarus, who spent nearly a decade as an assistant US attorney in Massachusetts and Florida, is joining the Boston office of the law firm Verrill as a partner in its health care and life sciences group, the company said Monday. Lazarus said he was eager to start “representing clients in all aspects of government investigations and enforcement proceedings, internal investigations, trials and business disputes.” The firm has more than 120 lawyers at seven offices in the Northeast. Lazarus was the lead prosecutor in the 53-day racketeering trial in 2019 of the billionaire founder of the opioid maker Insys Therapeutics and four former executives. All five were convicted of conspiring to bribe doctors to prescribe a fentanyl spray called Subsys. The founder of the firm, John Kapoor, received the longest prison sentence, 5½ years. Before the trial started, two other high-ranking Insys executives pleaded guilty and testified against their former coworkers. It’s not uncommon for federal prosecutors to sometimes leave their jobs to represent the types of defendants they once went after. One of Kapoor’s lawyers, Brian Kelly, was a former prosecutor in the Boston office. — JONATHAN SALTZMAN



Amazon workers in Alabama to get a second chance to vote on unionizing

A US federal labor official has ordered a new union election at an Amazon.com Inc. warehouse in Alabama. After losing the first election in April, the Retail, Wholesale and Department Store Union appealed the outcome to the National Labor Relations Board, alleging that Amazon had intimidated workers and pressured them to cast votes in a mailbox the company had installed on its property in view of security cameras. Amazon denied any wrongdoing. — BLOOMBERG NEWS


Some filmgoers may never return to theaters, study finds

About 49 percent of pre-pandemic moviegoers are no longer buying tickets. Some of them, roughly 8 percent, have likely been lost forever. To win back the rest, multiplex owners must “urgently” rethink pricing and customer perks in addition to focusing on coronavirus safety. Those were some of the takeaways from a new study on the state of the US movie theater business, which was troubled before the pandemic — attendance declining, streaming services proliferating — and has struggled to rebound from coronavirus-forced closings in 2020. Over the weekend, ticket sales in the United States and Canada stood at roughly $96 million, compared with $181 million over the same period in 2019. — NEW YORK TIMES


The ‘missing entrepreneurs:’ women, seniors

The world’s richest economies are failing to tap a key source of economic growth and innovation as entrepreneurship opportunities are limited to a small group of men, according to the Organisation for Economic Co-operation and Development. There could be an additional 9 million entrepreneurs in the European Union and 35 million across OECD countries if everyone was as active in starting and managing a new business as men aged 30 to 49, according to a study published Monday. “Young people, women and seniors have fewer opportunities to transform their business ideas into reality,” the OECD said. “These ‘missing entrepreneurs’ are costing economies ideas, innovation and jobs.” — BLOOMBERG NEWS



Airbus needs to build 100 more planes in a month

Airbus needs to accelerate jetliner deliveries in December if it’s to reach a goal of shipping 600 planes this year, according to people with knowledge of the situation. The European manufacturer’s 2021 delivery tally reached 500 aircraft as of Friday, according to the people, who asked not to be named before official numbers are published. That leaves Airbus about 100 short of its target, with five weeks left in the year. While a year-end push is a normal part of Airbus’s operations, supply-chain issues at parts makers struggling to lift shipments after COVID lockdowns have held back output this year. There’s also a risk that the spread of the Omicron strain of the virus could prompt airlines to review short-term fleet requirements. — BLOOMBERG NEWS


Nissan to invest more than $17b in batteries for electric vehicles

Nissan said Monday it is investing 2 trillion yen ($17.6 billion) over the next five years and developing a cheaper, more powerful battery to boost its electric vehicle lineup. The Japanese automaker’s chief executive, Makoto Uchida, said 15 new electric vehicles will be available by fiscal 2030. Nissan is aiming for a 50 percent “electrification” of the company’s model lineup, under what Uchida called the “Nissan Ambition 2030″ long-term plan. Electrified vehicles include hybrids and other kinds of environmentally friendly models other than just electric vehicles. — ASSOCIATED PRESS



Women’s basketball player at UConn gets Gatorade’s first college deal

Gatorade is signing its first-ever college athlete to an endorsement deal as the prolific sponsor capitalizes on a recent NCAA rule change to increase its influence in women’s sports. Paige Bueckers, the 20-year-old basketball phenom at the University of Connecticut, agreed to a multiyear deal with the PepsiCo-owned sports drink to join its athlete roster. As part of the arrangement, she’ll promote the brand in television commercials, social posts, product collaborations and events, with a focus on boosting women’s basketball. The parties declined to disclose financial terms of the agreement. Bueckers is one of the top student-athletes in all of college sports, earning player of the year honors in 2021 with projections of becoming a top pick in the Women’s National Basketball Association draft when she becomes eligible in 2023. — BLOOMBERG NEWS


Allstate to sell most of Illinois headquarters in a nod to workplace changes

Allstate reached an agreement to sell the majority of its headquarter campus for $232 million to Dermody Properties as the insurer adjusts to shifting workplace behavior brought on by the pandemic. The company announced the agreement in a statement Monday, after disclosing plans to sell the Northbrook, Ill., property last month. The deal is set to be completed next year, according to the statement. ‘’Allstate is selling the property as employees have more choice about where they work and many are choosing to work from home,’’ the insurer said in the statement. ‘’The company plans to keep a significant presence in the Chicago area, including its existing office space in downtown Chicago.’’ — BLOOMBERG NEWS