profits

British pharmaceutical maker AstraZeneca named David Brennan as CEO, replacing Tom McKillop, who leaves in January. The US-born Brennan who was named chief of operations in March has long been regarded as a favorite for the job. The pick came alongside good Q2 numbers for the company, which showed profits up nearly 50%, despite analysts' uncertainty over the future of its cholesterol drug Crestor. Sales of the drug and the company's heartburn drug Nexium, however, remained …

Some Wall Street analysts think the next year may be a golden one for managed health companies like WellPoint and UnitedHealth. Some, like Prudential analyst David Shove, think the recent push in Washington for electronic medical records is likely to pay off in a major way for the big name players, who are likely to see increased efficiencies and possible tax-write offs as a result of new legislation. Others are encouraged by the profits likely to follow in the wake of Medicare Part D when it goes into effect next year. Story

A new law proposed by North Carolina legislators takes aim at the tax refunds the state awards to non-profits. Under existing rules, hospitals in North Carolina collected $165 million in tax refunds from the state. The new bill would limit refunds to $1 million per hospital, plus 25 percent of any amount over that. In an effort to encourage for-profit corporations, the bill also seeks to cut the corporate tax rate by half a point.

- see this story from News 14 Carolina