The FDA said it approved six generic versions of the pill from drug makers including Dr. Reddy's Laboratories Ltd., Sun Pharma Global and Teva Pharmaceuticals.
GM to stop making cars in Australia by 2017
CANBERRA, Australia (AP) — General Motors Co. said Wednesday that it will stop making cars and engines in Australia by the end of 2017, with nearly 2,900 jobs to be lost, because of high production costs and competition.
The decision could spell the end of car manufacturing in Australia as the industry will be too small for supporting businesses such as parts makers to remain economic. Toyota Motor Corp. announced it is reassessing its future in Australia. A union said 50,000 jobs in the auto industry are in jeopardy.
GM's Australian subsidiary Holden once dominated Australian auto sales, but lost market share to imported cars. Ford Motor Co., once Holden's major rival in Australia, announced in May that it was ending production in the country in 2016. Toyota is the only other auto manufacturer in Australia.
Australia had four car manufacturers before Mitsubishi Motors Corp. shut its doors in 2008.
Czech brewer gets Budweiser trademark in Portugal
PRAGUE (AP) — The Czech brewery Budvar said Wednesday that a Portuguese trade court has upheld a decision prohibiting its rival, Anheuser-Busch InBev, from selling beer under the Budweiser name in the country.
State-owned Budvar has been fighting with Anheuser-Busch for over a century over use of the Budweiser brand name. The legal battle continued when Anheuser-Busch was taken over by Belgium's InBev in 2008 to create the world's largest brewer.
In a statement, the Czech company — whose full name is Budejovicky Budvar NP — said the court in Lisbon rejected AB InBev's challenge to an earlier ruling because its Budweiser trademarks could be mistaken for those Budvar had already registered in Portugal.
AB InBev has an option to appeal but has not yet said if it plans to do so.
By The Associated Press=
The Dow Jones industrial average dropped 129.60 points, or 0.8 percent, to close at 15,843.53. The S&P 500 index fell 20.40 points, or 1.2 percent, to 1,782.22. The Nasdaq composite fell 56.68 points, or 1.4 percent, to 4,003.81.
Benchmark oil for January delivery dropped $1.07 to close at $97.44 a barrel on the New York Mercantile Exchange. In other energy futures trading on Nymex, wholesale gasoline dropped 2 cents to $2.66 a gallon. Heating oil was flat at $3.02 a gallon. Natural gas rose 10 cents to $4.34 per 1,000 cubic feet.
Brent crude, a benchmark for international crudes, rose 32 cents to $109.70 a barrel on the ICE Futures exchange in London.