FMC TO CONTINUE COLLABORATION WITH NPSFMC Corp. will continue to support a multiyear, multimilliondollar collaborative research program with Natural ProductSciences (NPS) Inc. of Salt Lake City to develop peptide-basedpesticides. Although the program began in 1989, neithercompany announced the agreement until last week, after FMCdecided not to exercise a termination option. Terms havenLtbeen disclosed. Hunter Jackson, Ph.D., NPS' president, said NPShas isolated several arthropod compounds that are toxic toinsects and has cloned the genes encoding the toxins. NPS plansto insert the toxin genes into microbes and plants.
NEWPORT SHAREHOLDERS NIX SETTLEMENT
Newport Pharmaceuticals International Inc. of Laguna Hills,Calif., on Tuesday said holders of its 10 percent senior securedconvertible notes have not approved the companyLs proposedsettlement of two shareholder lawsuits bought in 1986. Thecompany (NASDAQ:NWPH) had sought to pay $1 million to thenote holders and issue them shares of common stock with amarket value of $1.75 million to $2.1 million. Too few noteholders approved, the company said, and it will now evaluateother alternatives to reach a settlement.
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