Business

Briefs: Acura, King agree to develop drugs

Posted October 31, 2007 11:00 pm

PALATINE -- King Pharmaceuticals Inc. and Palatine-based Acura Pharmaceuticals Inc. agreed Wednesday to develop and sell opioid pain drugs that won't be addictive. Acura will get $30 million up front, with additional payments later. Four immediate-release drugs have been targeted, including Acura's Acurox, which has oxycodone. Acura separately announced a 1-for-10 reverse stock split, effective Dec. 5. It also expects to pay off its $5 million secured note, leaving no term debt on its balance sheet.

Kmart to launch new electric razors

HOFFMAN ESTATES -- Kmart has launched a new line of electric razors for men called Torq. It features three rotary razors and two foil razors. Each razor includes a free leather travel case, a cleaning brush, and an AC power cord. Additional features on select models include a free car adapter, LCD power indicators, and bonus personal groomer. The products will be introduced this month for $29.99 to $79.99.

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