Morning Minutes: Lumara sells for $757M, St. Louis approves Uber

Uber | Courtesy of Uber
Uber | Courtesy of Uber

Here are today’s top business headlines from across Missouri:

Boeing to add 500 jobs in St. Louis area

Boeing Co. is consolidating its defense operations and plans to move up to 500 jobs to the St. Louis area from Washington state, the base of its commercial aircraft operation. The new jobs involve upgrading and servicing the F-22 Raptor, the Air Force’s newest fighter.

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St. Louis drug company sold for $757 million

Lumara Health, which recently changed its name from KV Pharmaceutical, is being acquired by two different buyers in deals valued at $757 million. The St. Louis-based company, which has a major focus on the maternal health business, emerged from Chapter 11 bankruptcy last year.

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St. Louis-area animal research lab sold for $48 million

Horizon Development Group, a British life science company, intends to acquire SAGE Labs, a Maryland Heights-based laboratory that provides animal models to the research community, for $16 million in cash and $32 million in stock.

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Taxicab commission to accept Uber service in St. Louis

The director of the St. Louis Metropolitan Taxicab Commission said regulators intend to allow the app-based Uber service on a limited basis in the St. Louis market. The commission will consider at its Oct. 7 meeting Uber’s application to act essentially as a third-party dispatcher for existing premium sedan services.

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Federal magistrate to mediate bitcoin dispute

A federal court in St. Louis has appointed a federal magistrate to mediate discussions between the Federal Trade Commission and Butterfly Labs Inc., which produces hardware to mine the digital currency Bitcoin. The FTC obtained a temporary restraining order to shut down the Leawood, Kan.-based company on Sept. 23, alleging that it had defrauded thousands of customers of as much as $50 million.

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