News Highlights: Top Company News of the Day

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ABM Industries Near Deal to Buy GCA Services for $1.25 Billion

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ABM Industries, one of the nation's largest providers of janitorial and building services, is near a deal to acquire privately held rival GCA Services Group for $1.25 billion in cash and stock.

The Price Dilemma Over a $16,000 Drug

Novartis recently discovered that a drug it sells for a group of very rare diseases could be used to treat a much more common ailment. There is just one problem: its $16,000-per-dose price tag.

Twitter Hires Former Goldman Executive Segal as CFO

Twitter tapped former Goldman Sachs Group executive Ned Segal as its new chief financial officer, a step toward filling vacancies created at the social-messaging company over the past year.

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Time Inc., Seeking a Refresh, Explores Renaming Itself

Time Inc. is considering a major rebranding that could include a corporate name change, as the publisher tries to position itself as a modern media company with growing digital and video ventures.

EPA Moves to Roll Back Proposed Restrictions on Alaskan Mine

The EPA is moving to withdraw proposed restrictions on the development of the Pebble Mine in Alaska, a reversal from the agency's stance on the matter under the Obama administration.

Zimmer Biomet Announces Leadership Transition

Medical-device maker Zimmer Biomet Holdings Inc. said David C. Dvorak stepped down as chief executive and director effective Tuesday, as the company struggles to boost sales and profits amid production problems.

Amicus Gets Nod From FDA to Submit Experimental Drug for Approval

A biotechnology company said the U.S. Food and Drug Administration allowed it to submit an experimental drug for approval without running an additional clinical study that the agency previously demanded.

Gymboree to Close About 350 Stores

Children's retailer Gymboree, which filed for bankruptcy last month, will close about 350 stores as part of its restructuring plan, the company said Tuesday.

Ex-Insys Saleswomen Plead Guilty in Opioid Prescription Kickback Schemes

Two former pharmaceutical saleswomen pleaded guilty on Tuesday to bribing doctors in exchange for prescribing a powerful fentanyl medication made by Insys Therapeutics Inc., the troubled drugmaker facing multiple investigations by state and federal prosecutors.

Pemex Cancels $100 Million Contract with Odebrecht

Mexican state oil giant Petróleos Mexicanos said Tuesday it canceled a $100 million contract with Odebrecht SA, the Brazilian construction firm that admitted to paying some $800 million in bribes across 12 countries.

(END) Dow Jones Newswires

July 12, 2017 03:15 ET (07:15 GMT)