Arkansas Business: Drug company deal helps push stocks higher

LITTLE ROCK, Ark. (Arkansas Business) -- Stocks end higher yesterday, shaking off its worst weekly performance since April.

Among the headlines pushing stocks higher, a big drug company deal. Generic drugmaker Mylan announced that it will buy Abbott Laboratories' generic-drug business in developed markets for $5.3 billion.

The combined company will be organized in the Netherlands, which will cut its tax bill. But the company said it will keep its headquarters near Pittsburgh.

New communication & marketing manager hired

The City of Little Rock has hired a new communication and marketing manager. Luis Gonzalez is a former account supervisor for the Cranford Johnson Robinson Woods agency in Little Rock.

City Manager Bruce Moore announced Gonzalez' appointment to the position Monday.

At the city, Gonzalez will lead the city's communications division and supervise its government access channel, LRTV.

He will also be responsible for developing communication strategies for a variety of initiatives.

Results of feasibility study released

Metroplan released the results of a feasibility study for an express bus service between Conway and Little Rock.

The study comes as Conway continues to see growth and traffic between the two cities can be heavy at peak commute times.

The study, prepared by Gresham Smith & Partners of Nashville, found the total capital cost for the service would be between $1.2 million and $2.2 million.

The start-up phase would cost between $635,000 and $1.3 million, and the build-out phase would incur another $600,000 to $900,000 in costs.

The study was commissioned by officials in Faulkner and Pulaski counties.

It considered two routes for the service, one along I-40 from Conway into west Little Rock on I-430, and into downtown Little Rock on I-630.

Based on survey results, a one-way fare would cost $3 for standard buses and $4 for motor coach buses.

A monthly pass would be $50 for the standard buses and $60 for motor coach buses.


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