Sallie Mae starts insurance business Reston-based SLM Corp. is starting an insurance business aimed at college students.
Sallie Mae Insurance Services, being offered through Next Generation Insurance Group LLC, will offer tuition insurance, renters insurance and student health insurance. It also will market insurance packages to colleges and universities that will include ID theft protection and other insurance products specifically for college-age customers.
Dunkin’ IPO could raise $460m
The initial public offering of Dunkin’ Brands Group Inc. could raise $460 million, 15 percent more than first disclosed when the offering was announced in May.
The Canton, Mass., parent company of Dunkin’ Donuts and Baskin-Robbins, said in a Securities and Exchange Commission filing that it intended to sell 22.25 million shares of its common stock in a price range of between $16 and $18 per share. Underwriters also have been granted an option to sell up to 3.38 million more shares if demand warrants. If the underwriter option is exercised, and shares sell at the top of the range, proceeds would top $460 million.
Vanda inks deal with Mexican drug firm
Vanda Pharmaceuticals Inc. has signed a licensing agreement with Mexican pharmaceutical company Probiomed S.A. de C.V. for the commercialization of its schizophrenia drug in Mexico.
Probiomed will seek regulatory approval to sell the drug, Fanapt, in Mexico. Financial terms of the licensing agreement weren’t disclosed.
Fanapt is Vanda’s first commercial product, which reached 25,000 prescriptions in the U.S. in the Rockville company’s first quarter. A long-acting, injectable version of the drug is in clinical trials.
Phone book’s days are numbered
Verizon Communications Inc. will end automatic delivery of printed residential white pages in Virginia, effective with the release later this month of the new Danville Verizon Superpages. Customers still can get a free residential white-pages directory upon request. Verizon also puts all its residential listings online.
Discontinuing the automatic distribution of the white pages in Virginia will eliminate about 1,640 tons of waste paper per year, Verizon says.
