Wednesday’s business headlines
INDIANAPOLIS (WISH) — Here is a look at Wednesday’s business headlines with Jane King.
$176M LAWSUIT AGAINST LILLY OVERTURNED
Eli Lilly convinced a federal judge to overturn a $176 million jury verdict for Teva Pharmaceuticals. Teva found that Lilly’s migraine drug emgality infringed on three patents.
Massachusetts federal judge Allison Burroughs said in a post trial ruling that the Teva patents were invalid. The patents covering the use of antibodies to inhibit headache-causing peptides to judge Burroughs did not matter, and the decision to overturn was not done lightly.
Teva sued Eli Lilly over the patents in 2018.
TARGET TO CLOSE 9 STORES DUE TO CRIME
Target closes nine stores in major cities across the country. The company has cited their reasoning for this due to violence, theft, and organized retail crime.
The company will close one store in New York City’s Harlem neighborhood, two in Seattle, three on San-Francisco-Oakland area, and three in Portland, Oregon. According to the Discounter the company said its stores will shutter for good on Oct. 21.
UPS TO HIRE 100,000+ HOLIDAY WORKERS
UPS will hire more than 100,000 workers for the holiday season. The company is in need of seasonal delivery drivers, drivers with a commercial license, and package handlers.
PANERA ADDS ‘ROMAN EMPIRE’ MENU
Panera jumps on a TikTok trend by adding a ‘roman empire’ menu. Although the menu items wouldn’t likely be found in the Roman-era, they are a collection of Panera’s iconic food items.
These food items include their macaroni and cheese, cinnamon crunch bagel, and ceasar salad.