Business briefs
Signs added to business park
Can’t remember the new name of Kodak Park? Look at the signs. Eastman Kodak Co. has put up new signage for Eastman Business Park along West Ridge Road — one at the Lake Avenue intersection and one outside the nearby Theater on the Ridge building.
Kodak in late 2008 renamed its sprawling manufacturing campus overlapping parts of Rochester and Greece as part of an effort to market the property to outside business tenants.
Kodak Park started in 1891 when founder George Eastman moved film and paper manufacturing operations from what is now the headquarters location at 343 State St. to a cluster of buildings 2½ miles north.
Microtel hotel, shops to open
A new Microtel Inn and Suites hotel is scheduled to open in Geneva, Ontario County, in December.
The 69-room hotel, owned by Indus Development Co., a Pittsford-based real estate development and management firm, will be located at 550 Hamilton St.
Indus Development is also developing 5,000 square feet of retail space that will provide guests with shopping and dining.
J&J has stake in drug developer
Johnson & Johnson, a company with a sizable presence in the Rochester area, is taking an 18.4 percent stake in Ireland-based drug developer Elan Corp. with a $1 billion investment.
J&J also is acquiring Elan’s stake in its Alzheimer’s disease treatment partnership with Wyeth and rolling it into a new Johnson & Johnson company. The partnership develops drugs intended to engage the patient’s immune system to fight the brain-destroying disease.
The boards of J&J and Elan have approved the deal and expect it to close before the end of 2009, pending approval from antitrust regulators.
Ortho-Clinical Diagnostics in Greece is a major part of J&J.
— Staff and wire reports
