NA­TIONAL

Richmond Times-Dispatch - - BUSINESS -

♦ Generic drug­maker

San­doz an­nounced plans Thurs­day to start sell­ing a slightly cheaper ver­sion of the EpiPen in the U.S. early next year. San­doz will sell a pair of pen­like in­jec­tors, un­der the name Sym­jepi, for $250 with­out in­sur­ance. Two other gener­ics on the mar­ket in the U.S. cost $300 a pair, in­clud­ing one from EpiPen seller My­lan.

♦ Ed­die Lam­pert and his ESL Hold­ings hedge fund are of­fer­ing to buy

Sears Hold­ings Corp. for up to $4.6 bil­lion in cash and stock in a move to stave off liq­ui­da­tion. Lam­pert and ESL own just un­der half of Sears, ac­cord­ing to Fac­tSet. Sears filed for Chap­ter 11 bank­ruptcy pro­tec­tion in Oc­to­ber. “ESL be­lieves that a fu­ture for Sears as a go­ing con­cern is the only way to pre­serve tens of thou­sands of jobs and bring con­tin­ued eco­nomic ben­e­fits to the many com­mu­ni­ties across the United States that are touched by Sears and Kmart stores,” the firm said in a state­ment.

♦ Lyft has taken the first step to­ward list­ing its shares on the U.S. stock mar­ket by fil­ing con­fi­den­tial doc­u­ments for an ini­tial pub­lic of­fer­ing. The fil­ing is ex­pected to be­come pub­licly avail­able early next year, a few weeks be­fore Lyft’s in­vest­ment banks price the shares af­ter gaug­ing in­vestor de­mand. Lyft’s IPO is ex­pected to gen­er­ate in­tense in­ter­est while help­ing to set the stage for Uber to go pub­lic. Uber has al­ready dis­closed it will go pub­lic next year but hasn’t in­di­cated when.

♦ OPEC ended its first day of meet­ings Thurs­day with­out strik­ing a deal to re­duce oil out­put and with­out any clear sign one would be reached when of­fi­cials from the or­ga­ni­za­tion, Rus­sia and other oil pro­duc­ers re­con­vene Fri­day.

♦ U.S. pro­duc­tiv­ity grew at an an­nual rate of 2.3 per­cent in the July-Septem­ber quar­ter, slower than the pre­vi­ous quar­ter. The third-quar­ter gain in pro­duc­tiv­ity was re­vised up slightly from an ini­tial es­ti­mate a month ago of a 2.2 per­cent gain, the La­bor Depart­ment said.

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