Caterpillar Fights Back and 2 Dow Movers Buzzing Now
Caterpillar (NYSE:CAT) intends to defend itself while the top Chinese construction equipment makers make global plays, according the Wall Street Journal. Chinese companies like Sany Heavy Industry and Zoomlion Heavy Industry Science and Technology have become more active on the world stage, constructing production facilities and distribution networks while Caterpillar fights back. The U.S. company’s Chief Executive Ed Rapp commented that, “We’re bringing our game to China. The best way to beat Chinese outside of China is to compete and win with them inside of China.”
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E.I. DuPont de Nemours & Company (NYSE:DD), the world’s number two seed company, is sending out dozens of former police officers throughout North America so as to prevent a practice which for generations of farmers was once customary — saving seed from harvests for replanting next season. DuPont supplies the best-selling genetically modified soybean seed, but replanting is disallowed under sales contracts. Senior Manager Randy Schlatter said that Canadian fields are already being inspected and the same will start in the United States next year.
Merck & Co. (NYSE:MRK) has officially informed the European Medicines Agency of its decision to withdraw the marketing authorization application for ridaforolimus. The firm said that the withdrawal of ridaforolimus was due to the provisional view of the Committee for Medicinal Products for Human Use that the data available thus far and provided in the application were insufficient to allow licensure of ridaforolimus in the European Union for the maintenance treatment of patients suffering from soft tissue sarcoma or primary malignant bone tumor. Although the application for these uses was withdrawn, Merck is evaluating ridaforolimus in combination with other drugs in other tumor types.
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