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Purchase: Alexion Pharmaceuticals of Cheshire, Conn., said it will buy a former Dow Chemical Co. plant in Smithfield, R.I., where it plans to produce a drug that treats a genetic blood disorder.

Guidance: Caliper Life Sciences Inc., a Hopkinton maker of reagents, software, and screening systems for drug makers, lowered its 2006 revenue outlook after a Securities and Exchange Commission review delayed the acquisition of imaging systems company Xenogen Corp.

Turbulence: Northwest Airlines flight attendants may disrupt service at the bankrupt airline, possibly through intermittent strikes, if the carrier voids their contract without a consensual deal in place, the workers' union said.

Named: Ira A. Jackson, former executive vice president of BankBoston and ex-commissioner of the Massachusetts Department of Revenue, has been named dean of the Peter F. Drucker and Masatoshi Ito Graduate School of Management at Claremont Graduate University in Claremont, Calif.

Buyback: International Paper Co., the world's largest paper company, said it will buy back up to $3 billion of stock and repay up to $7 billion in debt as part of a restructuring begun a year ago.

Contract: Military contractor Raytheon Co., of Waltham, said it received a five-year, $75 million contract to provide support services for the US Navy 300 satellite communications systems.

FCC OK: Comcast Corp. and Time Warner Inc., the two largest US cable companies, won conditional permission from the Federal Communications Commission to acquire bankrupt rival Adelphia Communications Corp.

(Globe wire services)

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