Issue of Jan. 11
Bristol-Myers to sell OTC line
Bristol-Myers Squibb, with research headquarters in Lawrence, could sell its over-the-counter drug line, according to published reports. The line includes the pain relievers Excedrin and Bufferin, the cold medicine Comtrex and Keri lotions.
Facing the loss of patents on key drugs, Bristol-Myers is working to restructure and shed noncore consumer products as it focuses on drug development to treat and prevent disease, the Wall Street Journal and The New York Times reported Jan. 4.
Representatives from Bristol-Myers could not be reached for comment.
In other news, Bristol-Myers announced it has received U.S. Food and Drug Administration approval for a liquid form of its schizophrenia and bipolar disorder drug Ablify, also known as aripiprazole.
Berwind buys Carnegie office
In a four-building purchase, Philadelphia-based Berwind Property Group has acquired 301 Carnegie Center, a 127,500-square-foot Class A four-story office building in West Windsor.
The building, built in 1984, is 33 percent leased to Bank of America on a long-term basis and includes a retail bank branch. The acquisition also included an 8.2-acre parcel with 700 feet of frontage along Route 1. The parcel, which has previously been used as sports fields for tenants, is developable.
Berwind purchased the Carnegie Center property along with three other office locations two in Pennsylvania and one in New York from American Financial Realty Trust for an undisclosed amount.
Integra aquires French companies
Integra LifeSciences Holding Corp., in Plainsboro, has bought a French group of companies for approximately $53 million in cash, subject to certain adjustments, the company said Jan. 3.
The Newdeal group of companies, based in Lyon, France, specialize in the development and manufacturing of implants and instruments designed for foot and ankle surgery.
Integra is a diversified medical technology company that develops, manufactures and markets medical devices for use in a variety of applications.
Newdeal executives are expected to stay on as Integra executives and Newdeal will keep its name.
Nassau to own Maryland stations
Nassau Broadcasting LP, in West Windsor, has agreed to buy two radio stations from Maryland-based Manning Broadcasting for around $18 million, according to Patrick Communications, a Maryland firm negotiating the deal on behalf of Manning.
Nassau Broadcasting is expected to buy WARX-FM and WARK-AM.
Nassau is not expected to take over ownership until the regulatory process is complete, which could take up to six months. In the meantime, the company began operating the stations Jan. 1 under a temporary lease agreement.
In other news, Nassau has closed a deal selling off its last Jersey Shore station.
Nassau sold WSJO-FM in Egg Harbor to Millennium Radio Group, which owns NJ 101.5 and WBUD in Trenton.
The transaction was part of a larger deal between the two companies from 2002, which included the sale of five stations and the option for a sixth. Millenium also bought WCHR-FM, a Manahawkin-based station, from Nassau earlier this year.
Universal Display gets Army contract
Ewing-based Universal Display Corp., a leading developer of organic light-emitting diode technologies for flat panel displays, has been awarded a nearly $70,000 contract by the U.S. Army Communication Electronics Research and Development Engineering Center in Ft. Monmouth.
The focus of the contract is on developing infrared OLED technology to improve the military’s current night vision capabilities. The goal is to create a device that can be combined with a color display to work well in both day and covert night operations.
If successful with this Phase I contract, Universal Display could receive a Phase II award of between $500,000 and $750,000, to further pursue research over a 24-month period.
Collaboration saves Johnson Atelier
A year ago, J. Seward Johnson Jr. was forced to close the highly regarded foundry portion of his Johnson Atelier at the Grounds for Sculpture in Hamilton, after budget cutbacks couldn’t stem losses from a plunging stock market.
But now, thanks to a collaboration between the sculptors employed at the atelier and two attorneys, the facility has reopened as the Digital Stone Project, Inc., a nonprofit center run by the artists themselves.
The sculptors and Marc Citron, of Saul Ewing’s Princeton office and Lane Taylor Jr. of the Philadelphia firm Stradley Ronon’s Washington office spent several months negotiating a transaction in which the foundry’s assets were bought and the lease for the site assumed.
The foundry, originally established in 1974 by Mr. Johnson, heir to the Johnson & Johnson fortune, had been one of the top facilities for sculpture fabrication in the United States and the chief castor of Mr. Johnson’s photorealist statues.
NJHA sets up tsunami fund
The New Jersey Hospital Association, based in West Windsor, has established a special fund to aid victims of the tsunami that hit Southeast Asia on Dec. 26.
Contributions are 100 percent tax deductible and will be periodically distributed to the American Red Cross and Save the Children.
Contributions may be mailed to the NJHA Tsunami Relief Fund, c/o Health Research and Educational Trust of New Jersey, P.O. Box 828691, Philadelphia, PA 19182-8691. Checks should be made payable to the Health Research and Educational Trust of New Jersey, with "Tsunami Victim Relief" noted in the memo line.
For more information contact NJHA at (609) 275-4000.

