Better deal elsewhere would lure Mass. life-science firms

More than three in four life-sciences companies would consider leaving Massachusetts, according to preliminary results of a Massachusetts Life Sciences Collaborative survey. The survey found 78 percent of respondents would consider leaving, and 63 percent have already been contacted by other states about moving. The majority of respondents said the state could help them stay put by offering increased tax credits and other financial incentives, better transportation, low-cost space, and improvements in infrastructure. Companies said Massachusetts is attractive because it has a strong workforce and resources for research, but is also expensive. The survey comes at a time when lawmakers are considering Governor Deval L. Patrick's $1 billion proposal to boost the life sciences sector. (Todd Wallack)

A Food and Drug Administration panel is set to vote tomorrow on an application by Hologic Inc. to sell an alternative to tubal ligation - or having one's tubes tied - to prevent pregnancy. The Bedford company says its Adiana Transcervical Sterilization System allows the closing of Fallopian tubes in 15 minutes without having to make any surgical incisions. The system was originally developed by Adiana Inc., which was purchased by Cytyc Corp. last year. Hologic acquired Cytyc in October. (Todd Wallack)

The commercial paper Fidelity Investments bought from troubled structured investment vehicles for towns and cities in Massachusetts represent a "minimal credit risk," the fund manager said. The companies that created the investment vehicles are working hard to ensure their commercial paper isn't downgraded, said Steve Nelson, a money manager at Fidelity. Municipalities in Massachusetts should get all of their money back as the investments mature by July, he said. Fidelity bought commercial paper from six SIVs for the Massachusetts Municipal Depository Trust, a local government investment pool used by more than 500 cities, towns, and local agencies. The investments amount to 2.7 percent of the $6 billion the trust oversees, state Treasurer Timothy Cahill said last week. (Bloomberg)

OneBeacon Insurance Group Ltd., the Bermuda insurer with US headquarters in Canton, was sued by rival Beacon Mutual Insurance Co. over claims it defied a court order to stop using its name and logo in Rhode Island. Beacon Mutual, based in Warwick, R.I., sued OneBeacon, alleging trademark infringement, in 2001. It claimed the similar names and lighthouse-themed logos were confusing to customers. Although OneBeacon lost the case in July 2005, it's violating a court order by continuing to use the name and logo in Rhode Island, according to a civil-contempt suit filed Dec. 6 in federal court in Providence. (Bloomberg)

Massachusetts Attorney General Martha Coakley launched an investigation last week into the merger of Commerce Insurance of Webster and Mapfre SA of Madrid, according to a preliminary proxy statement by Commerce. Coakley on Dec. 3 filed a civil investigative demand authorizing her office to investigate whether the merger violates state antitrust or consumer protection laws. Commerce officials could not be reached for comment, and the attorney general's office declined to comment. The proxy also disclosed that Commerce gave serious consideration to shopping itself to other potential buyers prior to accepting Mapfre's offer of $36.70 a share. (Bruce Mohl)

Massachusetts Secretary of State William F. Galvin charged Cantella & Co. with failure to supervise its representatives in the sale of highly complex and risky investment vehicles called structured products. In a statement, Cantella, a Boston broker-dealer, said it has "acted properly." Galvin's office defines structured products as "securities derived from or based on a single security, a basket of securities, an index, a commodity, a debt issuance, and/or a foreign currency." (Chris Reidy)

Despite a veto threat, Senate Democrats decided to go ahead with billions of dollars in oil industry taxes as part of an energy bill, but dropped a requirement for electric utilities to produce 15 percent of their power from wind, solar, and other renewable sources. Senator Harry Reid, Nevada Democrat, said he hoped a revised tax package, totaling $21 billion, will get enough votes if it's necessary to overcome a threatened Republican filibuster. (AP)

(Correction: Because of an editing error, an item in yesterday's Business in Brief column about actions taken by Secretary of State William F. Galvin against Cantella & Co. Inc. incorrectly stated that Cantella, a Boston broker-dealer, did not respond to requests for comment. Galvin has charged Cantella with failure to supervise its representatives in the sale of highly complex and risky investment vehicles called structured products. In a statement e-mailed to the Globe, Cantella said it had "acted properly in dealing with the Massachusetts Securities Division and in serving its own clients in this matter.")