Business Briefs – July 25, 2017

Celgene Corp. to Pay $280M to Settle Cancer Drug Fraud Suit

LOS ANGELES (AP) — A New Jersey pharmaceutical company has agreed to pay $280 million to settle a federal lawsuit alleging it committed fraud promoting two cancer drugs for unapproved purposes. Celgene denies wrongdoing and says it settled to avoid uncertainty, distraction and expensive litigation.

As McDonald’s Works on Transforming, $1 Sodas Boost U.S. Sales

OAK BROOK, Ill. (AP) — McDonald’s is trying to modernize its image by rolling out delivery and promising fresh beef in some products. But for now, $1 sodas are helping get people in the door. The Illinois-based company says domestic sales rose 3.9 percent at established locations during the second quarter.

With Jimmy Choo, Michael Kors Finds Shoes To Match its Bags

LONDON (AP) — American fashion accessories maker Michael Kors is buying luxury shoemaker Jimmy Choo in a deal worth $1.35 billion (896 million pounds). The move is meant to help Michael Kors’ brand regain some luster.

Chipotle’s Sales, Profit Rise Amid Recovery Efforts

DENVER (AP) — Chipotle says its sales rose during the second quarter as it worked on recovering from past food scares. But the Denver-based chain noted that recent events show it still has “a lot of opportunity” to improve its operations.