Executives from several Triangle companies flew to Palm Springs, Calif., last weekend for Ernst & Young's national entrepreneur of the year awards ceremony. Only one came home a winner.

Talecris Biotherapeutics CEO Lawrence Stern won in the Health Sciences category. Stern has run the Research Triangle Park company, which makes medicines from blood plasma, since it was part of Bayer in 2003.

He was recognized for "growing Talecris into one of the leading plasma therapeutics companies in the world," Ernst & Young officials wrote in a prepared statement.

Shares of Talecris Biotherapeutics fell today after a report that federal antitrust regulators may seek to block the company's $4 billion acquisition by Grifols of Spain.

The Deal Pipeline reported that the Federal Trade Commission is preparing a lawsuit to stop the union, citing an unnamed antitrust lawyer in Washington. The FTC, which blocked a previous buyout of Talecris, is again worried that a takeover would hurt competition in the market for medicines made from blood plasma, and lead to higher prices for patients, according to the report.

The Deal Pipeline is an information service that tracks acquisitions for investors and other clients.

An FTC spokesman declined to comment. Both companies said they had no knowledge of FTC plans to oppose the transaction.

Talecris Biotherapeutics' top executive has been tight-lipped since June, when the company announced its $4 billion buyout by Grifols of Spain.

This morning, the company reported stronger quarterly earnings but CEO Larry Stern once again didn't hold a conference call with Wall Street analysts.  He hasn't publicly commented on the progress of the deal, or much else.

But in an internal employee newsletter this month, Stern emphasizes that the company is continuing its work producing medicine from blood plasma, regardless of the merger with Grifols.

He also raises the possibility that the deal might not happen.

"Whether U.S. and global regulatory authorities approve the merger with Grifols, or we are once again left standing at the altar, I'm confident we have the strategies, plans and entrepreneurial team to embrace change and actively shape our destiny," Stern wrote.

Triangle executives dominated an awards ceremony for Carolinas' entrepreneurs in Charlotte on Thursday night.

Of the nine winners, six were CEOs of fast-growing companies based in this area. The annual Ernst & Young awards give corporate leaders bragging rights with their peers, but also can help their companies attract customers and investors.

The local winners included Jud Bowman, CEO of Durham's PocketGear; Leah Brown, CEO of Cary's A10 Clinical Solutions; Craig Collard, CEO of Cary's Cornerstone Therapeutics; Lawrence Stern, CEO of Research Triangle Park's Talecris Biotherapeutics; Chuck Swoboda, CEO of Durham's Cree; and Stephen Wiehe of Cary's SciQuest.

The last time, Jud Bowman went solo.

In 2001, when Ernst & Young first nominated Bowman as an entrepreneur of the year, the then-20-year-old traveled alone to Charlotte for the awards ceremony, figuring he wouldn't win. He did.

This week, when he returns to Charlotte as a finalist again, he'll bring his mother, girlfriend, and several board members and employees from the technology company he now runs, Durham-based PocketGear.

"We're thinking of renting a bus and all driving over together," Bowman said. "Even if I don't win, it's a great excuse to put on tuxes, drink some champagne and celebrate."

The annual Ernst & Young awards, now in their 24th year, have become prestigious recognition for the state's entrepreneurs. A caravan of other Triangle business leaders who are finalists also plan to make the trip to Charlotte. Most will bring spouses, children, employees, investors or friends as they bask in the limelight on Thursday night.

Talecris Biotherapeutics, the Triangle's largest biotechnology company, reported stronger first-quarter financial results this afternoon.

In addition, the Research Triangle Park company reaffirmed its previous financial projections for 2010. Talecris' shares have fallen sharply in the past week after one of its top rivals, Baxter International, cut its forecast for this year because of higher costs related to the federal health-care overhaul.

Talecris' drugs, produced from blood plasma by more than 1,500 people at a massive Clayton factory, are used to treat various genetic and chronic illnesses. Its biggest product is Gamunex, which is used to treat a type of immune deficiency and other diseases.

Higher sales of Gamunex during the first quarter offset lower prices paid by the Medicaid system as a result of the new health reform law. The company continues to expand its sales and marketing efforts, said CEO Lawrence Stern, in a prepared statement.

"As a result of those efforts, we are on track to deliver our growth targets for the full year 2010," he said.

Talecris Biotherapeutics, the Triangle's largest biotechnology company, reported weaker financial results for the fourth quarter.

Late Tuesday, the Research Triangle Park company reported that revenue for the quarter was $390.1 million, down 2.8 percent from the same period a year earlier.

Net income after excluding a one-time charge was 22 cents per share. That was down from 28 cents per share a year earlier and less than Wall Street analysts were expecting. Expenses rose, including higher costs to market its medicines made from blood plasma.

Shares of Talecris Biotherapeutics, which began trading publicly last month, surged this morning after the company reported higher third-quarter profit and sales of its medicine made from blood plasma.

On Monday afternoon, Talecris reported revenue of $395.7 million for the period ended Sept. 30, up about 13 percent from a year earlier.

Profit rose to $35.8 million, or 38 cents a share, from $20.6 million, or 22 cents a share.

It was Talecris' first earnings report since the Research Triangle Park company raised $1.1 billion in its initial public offering, one of the largest and most successful IPOs on Wall Street this year. The shares began trading publicly at $19 on Oct. 1.

The money raised was used mostly to repay debt. But the IPO and a $600 million debt refinancing also allowed the company to improve its balance sheet and plan future expansion.

Company officials have said they'll consider adding capacity at Talecris' Clayton factory, which employs about 1,500 people, but also are looking at other sites.

"We are now very well positioned to invest in our business," CEO Lawrence Stern said on a conference call with Wall Street analysts.

Talecris Biotherapeutics rose in its first day of trading in New York.

Shares of the Research Triangle Park company rose to $20.29, a gain of 6.8 percent, soon after its Wall Street debut around 11 a.m.

The company had priced at $19 Wednesday night when it raised $950 million through an initial public offering of stock.

Talecris makes drugs from blood plasma at a massive facility in Clayton.

On Friday morning, Talecris CEO Lawrence Stern will ring the opening "bell" at the Nasdaq. The company and its investment firm owners raised about $950 million before fees in the IPO, the second-largest by a U.S. company this year.