Raytheon wins FAA pact for radar transmitters

Raytheon Co., the fifth-largest US defense firm, won a Federal Aviation Administration contract valued up to $185 million to replace aging air-traffic control radar transmitters. The initial $32 million award covers the production of four transmitters and associated hardware, Waltham-based Raytheon said. The full contract calls for up to 68 solid-state transmitters to replace tube-based systems. The transmitters will extend the life of existing long-range surveillance radar systems. (Bloomberg)

The University of Massachusetts system generates about $4.3 billion of economic activity a year, about twice its $2 billion budget, according to a study by the university. The state spends $524 million a year to support UMass, with the rest of the budget coming from student tuition and fees, research grants, and other sources. The university employs about 15,000, while its spending creates 14,000 private-sector jobs, according to the study. About 60 percent of the system's graduates, about 11,000 a year, stay in Massachusetts to live and work. UMass generates about $28 million by licensing technology it develops, and reinvests the money in further research. All told, UMass spends nearly $400 million a year on research and development. (Robert Gavin)

Skyworks Solutions Inc., a maker of integrated circuits used in mobile phones, said it will exit its baseband operations business, and it expects to cut 425 positions as part of a restructuring plan. The restructuring is expected to result in a charge of $85 million to $95 million, which will cover the costs of a 10 percent reduction of its worldwide workforce and plant closings. The strategy change is also expected to cut $70 million in annual costs. The company said that dissolving the baseband business will allow it to strengthen research and development, as well as marketing and sales efforts for its core business. (AP)

Boston Scientific Corp. said US regulators have approved software upgrades that would enable defibrillators implanted in 150,000 patients to send computerized health data over the telephone to doctors. The monitoring will eliminate quarterly office visits and allow doctors to remotely confirm device batteries are working, the Natick company's Guidant unit said. Heart specialists have urged all makers of defibrillators, which automatically restart stopped hearts, to expand remote monitoring of the $30,000 devices. (Bloomberg)

Belgian drug maker UCB and Cambridge's Biogen Idec said they will develop a pill to treat multiple sclerosis in a deal that could ensure UCB upfront and commercial milestone payments of more than $200 million from its partner. The companies said in a release they will jointly develop and globally market the product, called CDP323, to treat relapsing-remitting MS and other potential indications. (Reuters)

Larry Sonsini, chairman of the law firm Wilson Sonsini Goodrich & Rosati, was a member of Novell Inc.'s board that received stock-option grants when the company's shares were at a 17-month low, the Recorder said, citing Securities and Exchange Commission filings. The timing of the Oct. 26, 1999, grants to board members raises questions about whether the options were issued when Novell said they were, the San Francisco legal daily said, citing corporate governance specialists. Shares rose from $16.69 on the grant date to $39.94 by December 1999, the Recorder said. A Wilson Sonsini spokeswoman didn't immediately return a call seeking comment. (Bloomberg)

Cayman Airways is resuming weekly direct flights from Logan Airport to Grand Cayman Nov. 17, according to the Massachusetts Port Authority, which runs Logan. Round trips will operate between Nov. 17 and Nov. 25, Dec. 15 and Jan. 6, and Feb. 16 through April 21, Logan spokesman Phil Orlandella said, or a total of about 10 round trips through winter. Cayman's website showed fares of $650 round trip for December trips. Flights leave Boston at 10 a.m. Saturday and arrive in Grand Cayman at 2 p.m., and leave Grand Cayman at 4:30 p.m. Friday, arriving at 8:30 p.m. (Peter J. Howe)

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