Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Bayer suing Russian antitrust watchdog * Bayer said on Tuesday it has filed a lawsuit against the Russian antitrust regulator over how it has handled its investigation in the German group's planned takeover of Creve Coeur-based Monsanto, even though the watchdog has yet to issue a ruling.

"The parties are in dialogue but the agreement has not been reached yet. Bayer made a decision to bring the case to court in order to safeguard its juridical rights," Bayer said in a statement.

"This is a procedural step that will not prevent the parties from the opportunity of negotiations in regard of achieving mutually beneficial agreement to support innovative development of Russian agricultural industry," the company added.

One year after bankruptcy, Arch Coal posts profit * Arch Coal reported an $81.3 million profit, or $3.64 a share, in the fourth quarter of 2017, up from $33.4 million, or $1.31 a share, it reported a year earlier as the company realized a $34.8 million net tax benefit associated with the alternative minimum tax credits that became refundable under the Tax Cuts and Jobs Act.

In its first full year since relisting on the New York Stock Exchange the Creve Coeur-based company emerged from bankruptcy in October 2016 Arch Coal reported $238.5 million in net income as annual revenue topped $2.3 billion.

Biotech startup raises $3 million * PierianDx, a St. Louis-based biotech startup that has developed cloud-based software that helps translate genomic data, has raised $3 million, according to a filing with the Securities and Exchange Commission.

The money raised was part of a larger $5 million offering, the filing showed. The startup, which is led by CEO Rakesh Nagarajan, was spun out of Washington University in 2014, though the company has its infancy in the university's Human Genome Project from 2003.

PierianDx raised a $14 million Series A in 2015 and made its first acquisition, of Provo, Utah-based Tute Genomics, in 2016. PierianDx investors include Inovo Strategic Investments, Health Catalyst Capital, and Arup Laboratories. …

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