Content about Acquisition

WEST DES MOINES, Iowa — Hy-Vee is taking over a construction company that builds its stores and related facilities, the supermarket chain said Friday.

Hy-Vee said it would buy the Weitz Co.'s interest in Hy-Vee Weitz Construction, a joint venture it entered in 1995 to complete Hy-Vee construction projects more efficiently and economically. Financial terms of the deal were not disclosed.

WOODCLIFF LAKE, N.J. — Valeant Pharmaceuticals has bought rights to a drug used to treat skin cancer from Eisai, the companies said Thursday.

Valeant has bought the rights to Targretin (bexarotene) capsules and gel from Eisai for $65 million upfront, plus additional payments based on certain milestones. Under the deal, Eisai has transferred its regulatory approval application to Valeant, which will assume responsibilities for all regulatory obligations associated with the product in the United States. Eisai will retain rights to the drug outside the United States.

NEW YORK — The investment groups of billionaires Warren Buffett and Jorge Paulo Lemann will buy H.J. Heinz for about $23 billion, according to published reports.

Bloomberg reported that Buffett's Berkshire Hathaway and Lemann's 3G Capital would buy the condiment maker for $72.50 per share, and the deal includes $12 billion to $13 billion from Buffett's group. Heinz also owns the Ore-Ida potato chip brand.

A new report by Francesco International identified $35.7 billion worth of potential Rx-to-OTC switches in a wide range of indications, from hypertension and chronic obstructive pulmonary disorder to high cholesterol and erectile dysfunction, and the Food and Drug Administration has been looking at ways technology and pharmacists could be employed to ensure that patients taking drugs new to the consumer health space take them appropriately

NORTHVALE, N.J. — The Food and Drug Administration has approved a regulatory approval application from Elite Pharmaceuticals for an opioid painkiller, the drug maker said Wednesday.

Elite announced the FDA approval of its supplemental application for the manufacture and packaging of naltrexone hydrochloride tablets in the 50-mg strength. The company said the approval would allow it to start manufacturing and packaging the drug for its sales and marketing partner, Mikah Pharma, from which it bought rights to the drug in September 2010.

NEW YORK — Leading private-label supplier Perrigo has acquired pet health company Velcera for $160 million.

The deal follows last fall’s acquisition of Sergeants and signals Perrigo’s intent to accelerate growth in areas beyond its traditional businesses of consumer health care, nutrition products and prescriptions. Velcera is a pet health company best known for its PetArmor brand of flea and tick products that are widely available at retailers nationwide, much to the chagrin of veterinarians. PetArmor had sales of $60 million last year.

LOS ANGELES — The AIDS Healthcare Foundation is rebranding a chain of specialty pharmacies it recently bought.

The AHF, which bought MOMS Pharmacy in August 2012, said it would rebrand the chain as AHF Pharmacy. MOMS is focused exclusively on providing medications and support services to people living with HIV and AIDS. The name change will be effective immediately, but the entire rebranding could take several months due to state pharmacy regulations and the need to replace signage, prescription labeling and other fixtures.

NEW YORK — The state supreme court in Alabama ruled that brand-name drug companies could be sued if patients suffer complications from generic versions of their medicines, according to published reports.

According to The New York Times, an Alabama man named Danny Weeks claimed he developed tardive dyskinesia after taking generic versions of Pfizer's acid reflux drug Reglan (metoclopramide). Pfizer acquired rights to the drug when it bought Wyeth in 2009, and generic drug makers Teva and Actavis, now owned by Watson, make generic versions.

MINNEAPOLIS — In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

CINCINNATI — Procter & Gamble has announced that current P&G director Johnathan Rodgers has decided not to seek re-election at P&G’s annual shareholder meeting in October 2013, choosing to retire from the board at that time.

The company also announced the appointment of Terry Lundgren, chairman, president and CEO of Macy’s to its board, effective immediately.

AUSTIN, Minn. — Hormel Foods announced it has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever United States, of Englewood Cliffs, N.J.

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the United States and other jurisdictions.