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IN BRIEF.(TO THE POINT)
Axis Capital rose 16% to 25.55 on its first day of trading on the NYSE. The 2-year-old Bermuda-based insurer raised $473 mil in its IPO.
GlaxoSmithKline pulled three patents related to its Paxil anti-depressant from the Orange Book, which lists multiple patents on existing drugs. The FDA is limiting multiple patents, which may help generic drugs get to market sooner.
Emmis missed Q1 views by half with a penny a share vs. a $3.28 loss last year. But it raised Q2 sales guidance a little. The radio station operator will pay $105 mil for a 50.1% stake in six Austin radio stations. ...
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