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MEDICAL
Cephalon to buy drug firm Lafon
The biotech will buy the French firm for $450 mil cash. The deal will add 3 cents a share to $1.03 in '02 profit. But that's still a penny below views. Lafon makes the narcolepsy drug Modiodal. Cephalon bought U.S. rights to the drug in '93, selling it as Provigil. Cephalon shares fell 2.71, or 4%, to 70.03.
AEROSPACE
Pratt & Whitney workers strike
More than 5,000 machinists at United Technologies' jet engine unit walked after talks stalled and the old deal ran out. Pension and job security are the main issues. Pratt & Whitney said the four plants affected will keep running with 2,000 salaried staffers.
European jet maker Airbus will freeze prices on spare parts and all customer-service related work for six months to help ...