Content about Acquisition

MINNEAPOLIS — While Supervalu has completed its overhaul of its value proposition across its Jewel-Osco banner, the grocer will be analyzing the impact before replicating the price repositioning across its entire chain, the Minnesota-based supermarket chain announced Thursday morning. "We continue to have a market-leading price position amongst conventional food retailers in three markets," Wayne Sales, Supervalu president, CEO and chairman told analysts during the second-quarter conference call.

MONTREAL — Valeant Pharmaceuticals International has acquired rights to a drug used to treat a symptom of age-related macular degeneration, the drug maker said.

Valeant announced that it acquired the injected drug Visudyne (verteporfin) from QLT, a company based in Vancouver, Canada.

Valeant said it paid $62.5 million upfront for all U.S. rights and available inventories for the drug, which had U.S. sales of about $21 million in 2011, and another $50 million upfront for rights to non-U.S. sales, which were about $14 million.

NEW YORK — Beauty company Coty has appointed Jean Mortier as president of its Prestige business, effective immediately.

Mortier has served as SVP, commercial for Coty since 2005. He succeeds Michele Scannavini, who was named CEO of Coty in July after serving as president of Coty Prestige for 10 years. In his new capacity, Mortier will lead the continued development and growth of the Coty Prestige portfolio, as well as seek new business ventures and collaborations. Based in Paris, he will also serve on Coty's executive committee.

DALLAS — Kimberly-Clark has issued a consumer advisory — as a result of suspected criminal activity — regarding a number of defective lots of Kotex Natural Balance Security tampons that may pose public health risks to consumers.

While the health risk to consumers is low, some of these tampons have: Increased levels of bacteria; presence of metallic particles; or imperfect raw materials.

MONTREAL — Canadian drug maker Valeant Pharmaceuticals International is buying Medicis Pharmaceutical for $2.6 billion, Valeant said Monday.

The $44-per-share deal, which the companies said represents a 39% premium over the closing price of Medicis' shares on Friday, is expected to close in the first half of 2013.

MINNEAPOLIS — As several suitors eye individual parts of the Supervalu business, Bloomberg reported that Supervalu is seeking buyers to bid for the entire business.

The news sparked a rise in Supervalu shares on Friday. As of press time, shares of Supervalu were up more than 9% to $2.32.

NEW YORK — Bristol-Myers Squibb has bought a majority stake in drug maker Amylin Pharmaceuticals, Bristol said Wednesday.

The New York-based drug maker said that 140.5 million shares of Amylin had been put up for sale at $31 per share, and that it now owned 85.55% of the San Diego-based company. Bristol said it planned to acquire the rest of Amylin's shares Wednesday as well.

CAMDEN, N.J. — Campbell's confirmed that a new leader will take over the company's Pepperidge Farm business.

Irene Chang Britt, who has worked at Campbell's since 2005, will replace Pat Callaghan as president of Pepperidge Farm. Britt is the first woman to lead Pepperidge Farm since company founder Margaret Rudkin presided over the business from 1937 to 1966. Pepperidge Farm was acquired by Campbell's in 1961.

Britt will be based at Pepperidge Farm's headquarters in Norwalk, Conn., and will report to Campbell's president and CEO Denise Morrison.

TEMPLE, Texas — McLane has entered into an agreement to acquire Meadowbrook Meat Co.

McLane said MBM — which is one of the nation's largest customized foodservice distributors for national restaurant chains — will continue to be led by the current executive management team and operating out of its existing facilities in the same markets. McLane's acquisition is subject to customary closing conditions, including the termination of the applicable waiting period under the Hart-Scott-Rodino Act.

ARDEN HILLS, Minn. — Land O'Lakes announced it has agreed to acquire Kozy Shack.

Kozy Shack, based in New York and founded by Vincent Gruppuso more than 40 years ago, is a "strong strategic fit" for Land O'Lakes and "opens the door for Land O'Lakes to achieve future growth in the attractive dairy dessert category," Land O'Lakes president and CEO Chris Policinski said.

Terms of the acquisition were not disclosed. The transaction is subject to customary closing conditions. The deal is expected to close on July 31.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Narrow networks. They're all the rage. If nothing else, narrow pharmacy benefit management networks emphasize local; and one analysis thread common among all the pundits discussing Walgreens' recent acquisition of USA Drug is that Walgreens just got a whole lot more local across the Southeast.

Taken together, asthma and chronic obstructive pulmonary disease — which includes chronic bronchitis and emphysema — affect nearly 50 million Americans, or about 15% of the total U.S. population, according to statistics from such organizations as the Centers for Disease Control and Prevention. And combined, the two diseases cause more than 100,000 deaths per year. Fortunately, however, there is a wide range of treatments available for both, many of which work for both diseases.