Irene slams income; new dosage gets OK; strong quarter for Honeywell.
Chubb Corp., in Warren, on Thursday reported net income in the third quarter of 2011 was $298 million, compared to $572 million in the third quarter of 2010. Net income per share declined to $1.04, from $1.80. The company blamed its weak report on the impact of catastrophes in the third quarter of 2011, including Hurricane Irene.
Watson Pharmaceuticals Inc. on Friday announced the U.S. Food and Drug Administration approved lower-dose versions of its Androderm therapy. The Parsippany-based drugmaker will launch the new formulation in November.
Morris Township-based Honeywell International Inc. announced Friday its third-quarter sales rose 14 percent, to $9.3 billion, and earnings increased 45 percent, to $1.10 per share, for its third quarter. As a result, the company said it is raising its 2011 sales and earning-per-share outlooks.