Business Briefs: Molina, Jakks Pacific, Hustler, Amgen, Keystone Automotive

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A California Department of Health Services hearing officer has set aside the department’s notice of intent to award Blue Cross of California the Medi-Cal contracts for San Bernardino and Riverside counties contracts that have been held by Long Beach-based


Molina Healthcare Inc.

for the past eight years, Molina announced Monday.


Molina originally lost the contracts in May when the department said the company failed to follow the requirements for the bid process. Following Molina’s appeal, the hearing officer directed the department to re-evaluate bids, giving the company a second chance to keep the contracts, valued at $111 million in revenue annually.



– Jakks Pacific Inc.

signed a licensing agreement with Van Nuys-based

MGA Entertainment Inc.

to develop and market pet products based on MGA’s popular Bratz property. The products pet toys, accessories, snacks, treats, bedding and apparel will be marketed by Jakks’ new pet division, JPI, and are expected to ship to retailers nationwide in 2006, the Malibu-based company said in a statement.



– Hustler Magazine

announced plans to launch a chain of casual-themed restaurants called Hustler Bar & Grille. The company is currently seeking a location on the Las Vegas strip to open its first restaurant, inviting hoteliers and developers there to contact the Beverly Hills-based company with proposals. Restaurants will feature Hustler and Larry Flynt memorabilia, as well as a menu offering more than 100 items.



– Amgen Inc.

entered into a collaborative agreement with Memory Pharmaceuticals Corp. and will pay $5 million to the Montvale, N.J.-based biotech company to develop compounds that inhibit an enzyme present in neurological and psychiatric disorders. Under the agreement, Memory could also receive milestone payments that are tied to the successful achievement of research, development and sales of the compounds. During the next two years, Thousand Oaks-based Amgen could also give Memory $5.1 million in research funding.



– Keystone Automotive Industries Inc.

signed a definitive agreement to acquire the assets of Veng USA, a Seekonk, Mass.-based distributor of replacement auto parts. Financial terms of the deal were not disclosed. The transaction is expected to close on Oct. 31. Scott Edwards, president and chief executive of Veng, will join Pomona-based Keystone as a vice president. Veng, which employs 170 people at seven locations throughout the New England region, reported 2005 revenues of approximately $37.1 million.





California’s manufacturing sector continued to expand and outperform the rest of the nation during the third quarter, according to a survey released by the A. Gary Anderson Center for Economic Research at Chapman University.


Chapman’s manufacturing sector composite index for California registered 59 during the third quarter, down from 60.7 in the second quarter and 64.9 in the third quarter of 2004. The national index was 56.5 during the third quarter. A reading exceeding 50 indicates expansion.

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