Ockham, a Cary-based contract research organization, has acquired Nexus Oncology in a move that will more strongly position the company to conduct drug development clinical trials of all sizes.

The acquisition brings Ockham's total number of employees to 300 spread across 12 countries and will strengthen the company's focus on oncology research.

"The experience of the Nexus clinical team and their leadership will help the newly enlarged company to expand our services and be a force in getting lifesaving drugs to market more efficiently," said James Baker, Ockham's CEO.

Nexus Oncology was founded in 1999 and provides clinical research services to biopharmaceutical companies developing cancer treatments. It has 120 employees globally.

Pfizer, which has offered to buy Durham's Icagen for $6 per share, wants to be clear: It won't pay a dime more.

In response to pressure from Icagen investors who are unhappy with the value of the offer, Pfizer sent a letter today to Icagen's board.

With the takeover offer set to expire on Aug. 31, "we thought it appropriate to reaffirm unambiguously, as we made clear when negotiating the merger agreement with you, that $6 per share is our best and final price," the letter states. "Pfizer will not pay more."

The so-called tender offer requires that a majority of Icagen investors agree to the deal. "If a majority of shares are not tendered, however, we still will not raise our offer," wrote Douglas Giordano, Pfizer's senior vice president of worldwide business development.

Durham drug-development company Icagen approached dozens of companies during the past three years about a possible acquisition before finally announcing its takeover by Pfizer last month.

But Icagen and its investment adviser J.P. Morgan Securities were rejected repeatedly, Icagen reported in a filing with the Securities and Exchange Commission. In the summer and fall of 2009 alone, the quest involved contacting about 40 companies "to discuss possible strategic alternatives."

The SEC filing describes Icagen's long struggle to find a larger partner that would provide money needed for further research of experimental drugs to treat epilepsy and other ailments.

In July, Icagen and Pfizer announced the deal worth $56 million, or $6 per share.

But the companies are facing pressure from several large investors who say that price is too low. 

Duke Energy, which is buying Raleigh-based Progress Energy, reported second-quarter earnings that beat analysts’ expectations, Charlotte Observer staff writer Bruce Henderson reports.

The 33 cents a share in diluted earnings topped Wall Street analysts’ forecasts by 2 cents. Revenues rose to $3.5 billion, up 7 percent from the same quarter of 2010.

Profit at Duke’s largest sector, its regulated gas and electric businesses, dropped 8 percent for the quarter. Sales fell slightly in the Carolinas and Midwest, as the summer’s hot weather put less demand on air conditioning than in the even more torrid 2010. Storm damage repairs also ate into profit.

Not counting weather factors, residential sales improved slightly, commercial sales fell a little and industrial sales were flat, chief financial officer Lynn Good said. “We continue to see some volatility,” she said.

Duke also saw a boost from its international operations, including hydroelectric dams that produce power in Brazil.

As with Progress, Duke's results offer a snapshot of the broader economy, because they're tied to electricity demand from residential and industrial customers across North Carolina.

Two large Icagen investors say that Pfizer's $56 million takeover offer for the Durham drug-development company is too low and will push for a higher price.

Pfizer announced on July 20 that it planned to buy the remaining shares of Icagen it doesn't already own for $6 each.

But Merlin Nexus and New Leaf Venture Partners believe that Icagen's shares could be worth up to three time as much, the investment firms wrote in a letter last week to Icagen's board and chairman Charles Sanders. The firms disclosed the letter in a Securities and Exchange Commission filing on Friday.

"We believe the purchase price dramatically undervalues Icagen’s assets, and is not in the best interests of all stockholders," they wrote.

A joint venture between the Duke University Health System and a for-profit hospital corporation will invest $45 million in improvements at Maria Parham Medical Center in Henderson over the next decade.

Duke and LifePoint Hospitals announced in January that they planned to buy Maria Parham, a 102-bed hospital about 45 miles north of Raleigh. It was the first acquisition by the joint venture, known as Duke LifePoint Healthcare.

Officials announced today that they have an agreement with Maria Parham's board. The deal still requires approval from the N.C. Attorney General, and is expected to close within 90 days.

For William Roper, CEO of the UNC Health Care System, the mega-merger of Express Scripts and Medco Health Solutions announced this morning could mean a $3 million payday.

Roper, who has been a Medco board member for nearly four years, will receive cash and Express Scripts stock worth as much as $3 million for Medco shares and options he owns.

But he also may lose his Medco board seat. That's a job that paid him total compensation worth $272,789 last year, according to a Securities and Exchange Commission filing.

Two "independent" Medco directors will join an expanded Express Scripts board when the deal closes, but the companies haven't picked them, said Medco spokesman Lowell Weiner. Medco listed eight independent directors in an April SEC filing, including Roper.

Roper has faced criticism over his board work, and whether UNC Health does enough to disclose potential conflicts of interest and his compensation.

Icagen agreed to be bought by its larger partner Pfizer for $6 per share, or about $56 million, a price that's less than what Wall Street was expecting.

Shares of Icagen, a small, Durham-based drug-development company, surged last month after Pfizer disclosed the companies were in discussions about a "strategic transaction."

On Tuesday, Icagen shares closed at $7.75, more than triple the price of a month ago.

But its shares fell 23 percent to $5.95 in midday trading today, after the companies announced that Pfizer, which already owns more than 1 million Icagen shares, will buy the remaining 8.3 million shares for $6 each.

"The price is really on the low range of what investors had been expecting," said Christopher James, who follows Icagen for McNicoll Lewis Vlak. He doesn't own Icagen or Pfizer shares.

Clorox officials made clear this afternoon that they'd rather have activist investor Carl Icahn go away.

Icahn on Friday made an unsolicited bid to buy Clorox for more than $10 billion. But Icahn also acknowledged that the offer was designed mostly to spur other bidders to step in and to encourage Clorox to shop itself around.

Today, Clorox issued a statement that Icahn's offer of $76.50 per share "substantially undervalues the company."

“Our board has unanimously determined Mr. Icahn’s unsolicited proposal is neither credible nor adequate,” said Lead Director Gary Michael.

Clorox's board "regularly evaluates opportunities given the dynamic nature of the company’s industry and remains open to considering any credible plan to create significant stockholder value."

Clorox shares, which surged on Friday after news of Icahn's offer, fell 2 percent today to close at $73.04.

Clorox owns a wide range of brands, including its namesake bleach, Glad trash bags and Britta water filters. It also owns Burt's Bees, the Durham-based company that sells lip balms, lotions and other products made mostly from natural ingredients.

PPD released a prepared statement this afternoon that management is reviewing its strategic plan and capital structure "with a focus on unlocking value for shareholders," following a published report that the company is considering a sale.

Here is PPD's statement:

Following recent stock market developments, PPD, Inc. (Nasdaq:PPDI - News) today announced that its board of directors has asked management to review PPD’s strategic plan and capital structure with a focus on unlocking value for shareholders.

“While the company generally has a policy of not commenting on speculation,” said Fred Eshelman, executive chairman of PPD, “we want to assure our customers and employees that the company remains focused on executing its long-term business strategy.” Eshelman added, “We are absolutely dedicated to performing for our customers and committed to executing the important research programs that they have entrusted to us.”

Eshelman continued, “We are looking at our long-term plan and our capital structure to see if there are any actions, which might create value at this time. We are not engaged in any discussions around a combination with other clinical research providers. We remain laser-focused on executing our business and serving our customers with the quality and service they expect and deserve.”