Acorda Therapeutics will buy privately-held Civitas Therapeutics for $525 million in cash. The deal will give Acorda access to a drug for Parkinson's disease that's in late-stage development, and effectively end Civitas' plans to go public. On its own, Acorda is in the process of developing treatments for multiple sclerosis and spinal-cord injuries.
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KCG Holdings says it will cut its workforce by 4% in the coming weeks. Word of the layoffs follows reports of tensions inside the computer-driven trading firm.
SolarCity (SCTY) broke ground for a new factory in Buffalo, New York. The company said the project is expected to create about 1,500 jobs, and it looks to begin solar panel manufacturing in 2016. The new factory will sit at the site of a former steel mill that’s now set up as a clean-energy hub.