Content about Business

December 6, 2010

Kashi is boosting its sustainability efforts by reducing the packages of its products by as much as 12.4%.

LA JOLLA, Calif. — Kashi is boosting its sustainability efforts by reducing the packages of its products by as much as 12.4%.

Among the foods that now feature less packaging are Kashi GoLean Crunch! honey almond flax and GoLean Crisp! toasted berry crumble cereals, all Kashi TLC crackers and the entire line of TLC chewy granola bars and TLC fruit and grain bars.

December 6, 2010

Kellogg's president, CEO and company director David Mackay announced that he will retire from his post, effective Jan. 1.

BATTLE CREEK, Mich. — Kellogg's president, CEO and company director David Mackay announced that he will retire from his post, effective Jan. 1.

The announcement is part of Kellogg's succession plan, which named current COO and board member John Bryant — who joined Kellogg in 1998 — as the company's new president and CEO. Mackay will work closely with Bryant to ensure a smooth transition through March 31, 2011, the company said.

December 6, 2010

Sara Lee announced on Monday that it has completed the sale of its global body care and European detergents businesses to Unilever for 1.21 billion euro ($1.6 billion).

DOWNERS GROVE, Ill. — Sara Lee announced on Monday that it has completed the sale of its global body care and European detergents businesses to Unilever for 1.21 billion euro ($1.6 billion).

The sale is part of Sara Lee's ongoing process of divesting its household and body care businesses.

December 6, 2010

Consumers see smart phones as future personal, coupon-clipping shopper assistants, a global survey released Monday by Accenture found.

NEW YORK — Consumers see smart phones as future personal, coupon-clipping shopper assistants, a global survey released Monday by Accenture found. According to the survey, 79% of smart-phone users would find it useful to download money-off coupons to their phones, and 73% of those shoppers would be receptive to being pinged with instant money-off coupons as they passed by an item in a store.

December 3, 2010

Fresh from securing a deal to sell his company to Cardinal Health for $1.3 billion, Kinray owner, president and CEO Stewart Rahr is turning more attention to his crusade to promote his friend Donald Trump as a candidate for president in 2012.

WHITESTONE, N.Y. — Fresh from securing a deal to sell his company to Cardinal Health for $1.3 billion, Kinray owner, president and CEO Stewart Rahr is turning more attention to his crusade to promote his friend Donald Trump as a candidate for president in 2012.

December 3, 2010

Community pharmacists still are among the nation’s most trusted professionals. That’s the finding from Gallup’s newly released "Honesty and Ethics" survey.

ALEXANDRIA, Va. — Community pharmacists still are among the nation’s most trusted professionals.

December 3, 2010

At Drug Store News’ Specialty Pharmacy Roundtable event last Tuesday, Diplomat Specialty Pharmacy president and CEO Phil Hagerman remarked that improving medication adherence in specialty pharmacy could be equivalent to a new blockbuster drug. And he may be right.

December 3, 2010

Prestige Brands Holdings on Thursday named Ron Lombardi its new CFO, effective Dec. 6. The position had been vacated by the retirement of Pete Anderson.

IRVINGTON, N.Y. — Prestige Brands Holdings on Thursday named Ron Lombardi its new CFO, effective Dec. 6. The position had been vacated by the retirement of Pete Anderson.

“[Lombardi] is a results-oriented financial professional whose extensive background in business development, acquisitions and divestitures, and debt and equity structuring will serve Prestige well as we move into our next phase of growth following our recent acquisition of Blacksmith Brands,” stated Matthew Mannelly, Prestige president and CEO.

December 3, 2010

Pharmacy advocates are using every tool they can to spread the message that pharmacists bring a lot more than prescription services to the healthcare table. So how about a 341-ft. digital billboard looming above Times Square?

WHAT IT MEANS AND WHY IT'S IMPORTANT — Pharmacy advocates are using every tool they can to spread the message that pharmacists bring a lot more than prescription services to the healthcare table. So how about a 341-ft. digital billboard looming above Times Square?

December 3, 2010

Walgreens saw a rise in sales across the board for the month of November and fiscal first quarter 2011, the drug store chain said Friday.

DEERFIELD, Ill. — Walgreens saw a rise in sales across the board for the month of November and fiscal first quarter 2011, the drug store chain said Friday.

Total sales for the chain rose 8.6% to $5.83 billion in November, with 2.8 percentage points contributed by Duane Reade stores. Comparable-store sales for the month also saw a gain of 3.2%, although comps results do not include Duane Reade sales. Total sales for the quarter saw a strong gain of 5.9% to $17.33 billion, as comparable-store sales increased 0.8%.

December 3, 2010

The Food and Drug Administration has approved a generic chemotherapy drug made by Sagent Pharmaceuticals, Sagent said Thursday.

SCHAUMBURG, Ill. — The Food and Drug Administration has approved a generic chemotherapy drug made by Sagent Pharmaceuticals, Sagent said Thursday.

The FDA approved topotecan hydrochloride for injection, a version of GlaxoSmithKline’s Hycamtin. The U.S. market for injectable topotecan was around $158 million in 2010, according to IMS Health.

December 2, 2010

Industry veteran Bob Kwait, chairman and COO of Bob Kwait Consulting Group, and FreshDirect chairman and CEO Richard Braddock were honored Wednesday during the 2010 Consumer Products "Good Scout" Award Luncheon in New York.

NEW YORK — Industry veteran Bob Kwait, chairman and COO of Bob Kwait Consulting Group, and FreshDirect chairman and CEO Richard Braddock were honored Wednesday during the 2010 Consumer Products "Good Scout" Award Luncheon in New York.

The annual luncheon, presented by the Greater New York Councils of Boy Scouts of America, was held at Hilton New York.

December 2, 2010

CVS Caremark announced on Thursday that it has been awarded pharmacy benefit management and drug therapy management accreditation from URAC, a healthcare accrediting organization that establishes quality standards for the healthcare industry ...

WOONSOCKET, R.I. — CVS Caremark announced on Thursday that it has been awarded pharmacy benefit management and drug therapy management accreditation from URAC, a healthcare accrediting organization that establishes quality standards for the healthcare industry. CVS Caremark previously had received accreditation for PBM and DTM from URAC in 2007.

December 2, 2010

Shortly after testing its PYNK system in CVS/pharmacy locations in the Westchester County, N.Y., area, Kodak officially is rolling out the photo kiosks at 5,000 CVS/pharmacy stores nationwide.

ROCHESTER, N.Y. — Shortly after testing its PYNK system in CVS/pharmacy locations in the Westchester County, N.Y., area, Kodak officially is rolling out the photo kiosks at 5,000 CVS/pharmacy stores nationwide.

The Kodak PYNK photo kiosk gives photo enthusiasts the capability to create various projects with its "print-to-fit" system. New to the mix is a photo collage option, which takes out the time-consuming work of selecting, cropping and printing photos for a collage display, the company said.

December 2, 2010

Kroger's third-quarter revenue, including fuel, leaped 5.9% to $18.7 billion, the supermarket giant reported Thursday ...

CINCINNATI — Kroger's third-quarter revenue, including fuel, leaped 5.9% to $18.7 billion, the supermarket giant reported Thursday.

Excluding fuel sales, total sales increased 3.1% in the third quarter, which ended Nov. 6, the company noted. Earnings per share for the company rose to 32 cents per share, totaling $202.2 million. During the same period last year, Kroger reported a net loss of $874.9 million, or $1.35 per diluted share, after the company's $1.05 billion write-down of its Ralphs division.

December 2, 2010

Merck announced on Thursday it has inked a deal to acquire an insulin maker.

WHITEHOUSE STATION, N.J., and BEVERLY, Mass. (Dec. 2) Merck announced on Thursday it has inked a deal to acquire an insulin maker.

December 2, 2010

Rite Aid on Thursday posted sales of $6.2 billion, down 2.3%, for its third quarter ended Nov. 27. Same-store sales for the period declined 1.3%, representing flat front-end sales and a pharmacy comparable sales decline of 1.9% ...

CAMP HILL, Pa. — Rite Aid on Thursday posted sales of $6.2 billion, down 2.3%, for its third quarter ended Nov. 27. Same-store sales for the period declined 1.3%, representing flat front-end sales and a pharmacy comparable sales decline of 1.9%.

For the five-week period ended Nov. 27, which includes Black Friday sales, front-end sales were up 1.3% while pharmacy same-store sales, which included an approximate 248 basis points negative impact from new generic introductions, declined 2.5%. Overall monthly comps fell 1.3%.

December 1, 2010

Kodak is introducing a new innovation that provides consumers with ways to give greeting cards a personal touch.

ROCHESTER, N.Y. — Kodak is introducing a new innovation that provides consumers with ways to give greeting cards a personal touch.

Kodak's new personal greeting cards give consumers a variety of ways to quickly customize and print personal cards in seconds at select in-store Kodak picture kiosks nationwide. Customers can create cards in three easy steps:

  • Touch the screen on the kiosk;

  • Select an occasion and the preferred style of the card; and

  • Begin the personalization process.

November 30, 2010

The entire retail store is a diabetes destination, and pharmacists are critical in educating and communicating with consumers to help them and their loved ones better manage the chronic disease. That was one of several important messages that industry leaders expressed during Drug Store News’ 8th Annual Diabetes Roundtable discussion on Tuesday in New York at the New York Athletic Club. More than 100 leading industry players gathered for the event, which also included the 12th Annual Industry Issues Summit in the afternoon.

NEW YORK — The entire retail store is a diabetes destination, and pharmacists are critical in educating and communicating with consumers to help them and their loved ones better manage the chronic disease. That was one of several important messages that industry leaders expressed during Drug Store News’ 8th Annual Diabetes Roundtable discussion on Tuesday in New York at the New York Athletic Club. More than 100 leading industry players gathered for the event, which also included the 12th Annual Industry Issues Summit in the afternoon.

November 30, 2010

The president of drug maker Merck now will fill an additional position at the company: CEO.

WHITEHOUSE STATION, N.J. — The president of drug maker Merck now will fill an additional position at the company: CEO.

Merck's board of directors elected president and board member Kenneth Frazier as the company's next leader, effective Jan. 1. Frazier will succeed Richard Clark, who has served as Merck's CEO since 2005. Clark will continue as chairman of the board, the drug maker said.

November 30, 2010

Total sales and comparable-store sales both rose during the month of November for Fred's, the chain announced Tuesday.

MEMPHIS — Total sales and comparable-store sales both rose during the month of November for Fred's, the chain announced Tuesday.

Fred's disclosed total sales for the four-week fiscal month ended Nov. 27 increased 6% to $146.3 million from the year-ago period, while comparable-store sales for the month rose 4.7% versus a decline of 3.3% during November 2009.

November 30, 2010

Ranbaxy Pharmaceuticals has received final approval for its generic Alzheimer's drug from the Food and Drug Administration, giving the drug maker 180 days of market exclusivity.

GURGAON, India, and PRINCETON, N.J. — Ranbaxy Pharmaceuticals has received final approval for its generic Alzheimer's drug from the Food and Drug Administration, giving the drug maker 180 days of market exclusivity.

Ranbaxy Pharmaceuticals, a subsidiary of Ranbaxy Labs, will manufacture and market donepezil hydrochloride tablets, a generic version of Aricept, in the 5-mg and 10-mg strength in the United States.

November 30, 2010

An alliance between a drug store chain and a national pharmacy benefit manager resulted in more than $3 million in savings over a seven-month period for the PBM clients.

DEERFIELD, Ill. — An alliance between a drug store chain and a national pharmacy benefit manager resulted in more than $3 million in savings over a seven-month period for the PBM clients.

November 29, 2010

This Black Friday weekend proved to be a help to retailers, as shopper traffic and spending both increased, the National Retail Federation said.

WASHINGTON — This Black Friday weekend proved to be a help to retailers, as shopper traffic and spending both increased, the National Retail Federation said.

While 212 million shoppers visited stores and websites this weekend, up from 195 million shoppers last year, the average shopper spend totaled $365.34 this weekend, a 6.4% increase from last year. Total spending reached an estimated $45 billion, NRF said.

November 29, 2010

It's official. Coty, whose brands include Sally Hansen nail care products, has announced plans to acquire OPI Products, a maker of professional nail salon products.

NEW YORK — It's official. Coty, whose brands include Sally Hansen nail care products, has announced plans to acquire OPI Products, a maker of professional nail salon products.

Terms of the deal were not disclosed. The acquisition will bolster Coty's color cosmetic portfolio by adding more than 200 shades of OPI Nail Lacquer's chip-resistant formula.