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November 12, 2013

Hospira had sales of $1 billion in third quarter 2013, the generic drug maker said.

LAKE FOREST, Ill. — Hospira had sales of $1 billion in third quarter 2013, the generic drug maker said.

Hospira, which specializes in making generic injectable drugs, as well as biosimilars for the European market, said the sales figures for the quarter were a 1.4% increase over the $994 million in sales reported in third quarter 2012. Profits for the quarter were $84.5 billion, compared with $78.4 billion during the same period last year.

November 11, 2013

Swiss drug maker Novartis is selling its blood transfusion diagnostics business to a Spanish manufacturer for $1.7 billion, Novartis said Monday.

BASEL, Switzerland — Swiss drug maker Novartis is selling its blood transfusion diagnostics business to a Spanish manufacturer for $1.675 billion, Novartis said Monday.

The drug maker said it expected the sale, to Grifols, to be completed in 2014. Novartis bought the Emeryville, Calif.-based unit in 2006 as part of its acquisition of Chiron. Its sales in 2012 were about $565 million. Grifols is headquartered in Barcelona.

November 11, 2013

Shire will pay $4.2 billion to buy a drug maker specializing in treatments for rare diseases.

DUBLIN — Shire will pay $4.2 billion to buy a drug maker specializing in treatments for rare diseases.

Shire, headquartered in Ireland, said the $50-per-share acquisition of ViroPharma would strengthen its rare disease portfolio. Exton, Pa.-based ViroPharma's products include the hereditary angioedema drug Cinryze (C1 esterase inhibitor [human]) and Vancocin (vancomycin hydrochloride), used to treat Clostridium difficile-associated diarrhea.

November 8, 2013

Salix Pharmaceuticals will buy Santarus for $2.6 billion, the drug makers said.

RALEIGH, N.C. — Salix Pharmaceuticals will buy Santarus for $2.6 billion, the drug makers said.

Salix will acquire all outstanding common stock of Santarus for $32 in cash, representing an approximately 36% premium over the Wednesday closing price of the company. The acquisition is expected to close in first quarter 2014. Both companies specialize in gastrointestinal drugs.

November 8, 2013

Walgreens on Friday announced that it has completed its acquisition of certain assets of Kerr Drug’s retail drug stores and specialty pharmacy business.

DEERFIELD, Ill. — Walgreens on Friday announced that it has completed its acquisition of certain assets of Kerr Drug’s retail drug stores and specialty pharmacy business. In fiscal year 2012, Kerr Drug’s retail drugstores and specialty pharmacy business recorded total sales of $381 million.

Financial terms of the agreement were not disclosed.  

As previously announced in September, the acquisition is an asset transaction and includes Kerr Drug’s retail drug stores, specialty pharmacy business and a distribution center. 

November 7, 2013

Sales at Costco Wholesale in October were up by 6% over last year, the club retailer said Thursday.

ISSAQUAH, Wash. — Sales at Costco Wholesale in October were up by 6% over last year, the club retailer said Thursday.

Costco said sales for the month were $8.15, compared with $7.66 billion in October 2012. For the nine-week period that ended Sunday, sales were $18.01 billion, a 6% increase over the $17 billion the chain had during the same period last year.

November 7, 2013

Fred's Super Dollar on Thursday reported sales gains for the four weeks ended Nov. 2, reaching $143.4 million on 2% growth.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported sales gains for the four weeks ended Nov. 2, reaching $143.4 million on 2% growth. Comparable store sales for the month increased 0.8% versus a decline of 0.8% in the same period last year.

November 6, 2013

The board of directors of AmerisourceBergen on Tuesday increased the company’s quarterly dividend rate 12% to $0.235 per common share from $0.21 per common share.

VALLEY FORGE, Pa. — The board of directors of AmerisourceBergen on Tuesday increased the company’s quarterly dividend rate 12% to $0.235 per common share from $0.21 per common share.

AmerisourceBergen shares were up 23 cents to $67.13 in mid-morning trading on Wednesday. 

The quarterly dividend of $0.235 per common share will be payable Dec. 2, 2013, to stockholders of record at the close of business on Nov. 18, 2013.

 

November 6, 2013

Once dismissed as belonging to the realm of techno-utopians and anti-government libertarians, bitcoin has lately grown in popularity among investors and retailers. Could it find acceptance among drug stores as well?

NEW YORK — Once dismissed as belonging to the realm of techno-utopians and anti-government libertarians, bitcoin has lately grown in popularity among investors and retailers. Could it find acceptance among drug stores as well?

November 5, 2013

Endo Health Solutions will acquire Canadian drug maker Paladin Labs for $1.6 billion, mostly in shares of stock, Endo said Tuesday.

MALVERN, Pa. — Endo Health Solutions will acquire Canadian drug maker Paladin Labs for $1.6 billion, mostly in shares of stock, Endo said Tuesday.

November 5, 2013

Hallmark Cards will lay off up to 250 people and drop its party wares line as sales for the category decline, according to published reports.

NEW YORK — Hallmark Cards will lay off up to 250 people and drop its party wares line as sales for the category decline, according to published reports.

The Kansas City Star reported that the layoffs equalled more than 7% of the company's 3,200 jobs in the Kansas City, Mo., area, out of about 12,000 employees worldwide.

November 5, 2013

Walgreens on Tuesday posted October sales of $6.4 billion, an increase of 6.1%. Sales in comparable stores increased by 5.8% in October.

DEERFIELD, Ill. — Walgreens on Tuesday posted October sales of $6.4 billion, an increase of 6.1%. Sales in comparable stores increased by 5.8% in October. 

Prescriptions filled at comparable stores increased by 5.7% in October and increased 6.2% on a calendar day-shift adjusted basis. This year’s October had one additional Thursday and one fewer Monday compared with October 2012. These calendar shifts negatively impacted prescriptions filled at comparable stores by 50 basis points.

November 4, 2013

Carex Health Brands on Monday announced the acquisition of the ThermiPaq Hot & Cold Therapy brand along with other associated assets from the Thermionics Corp..

NORWELL, Mass. — Carex Health Brands announced the acquisition of the ThermiPaq Hot & Cold Therapy brand along with other associated assets from Thermionics Corp.

November 4, 2013

Safeway on Monday announced that it has completed the sale of the net assets of Canada Safeway to Sobeys, a wholly-owned subsidiary of Empire Company.

PLEASANTON, Calif. — Safeway on Monday announced that it has completed the sale of the net assets of Canada Safeway to Sobeys, a wholly-owned subsidiary of Empire Co.

Proceeds from the transaction of $3.8 billion in cash after taxes and expenses and between $400 and $450 million in U.S. tax benefits related to the exit of the Chicago market will be used to pay down $2 billion of debt, with the majority of the remainder to be used to buy back stock. In addition, some of the proceeds may be used to invest in growth opportunities, Safeway reported.

November 1, 2013

Indian drug maker Dr. Reddy's Labs had sales of $536 million in second quarter 2014 and profits of $110 million, the company said.

HYDERABAD, India — Indian drug maker Dr. Reddy's Labs had sales of $536 million in second-quarter 2014 and profits of $110 million, the company said.

Those figures represented sales growth of 17% and a 76% growth in profits over second quarter 2013. Seventy-nine percent of the company's sales came from generic drugs, including 50% from sales in North America; sales of generics grew by 32% over last year.

November 1, 2013

Teva Pharmaceutical Industries had $5.1 billion in sales and $711 million in profits in third-quarter 2013, the Israeli drug maker said.

JERUSALEM — Teva Pharmaceutical Industries had $5.1 billion in sales and $711 million in profits in third-quarter 2013, the Israeli drug maker said.

October 31, 2013

Cardinal Health had sales of $24.5 billion and profits of $339 million in first quarter 2014, the company said.

DUBLIN, Ohio — Cardinal Health had sales of $24.5 billion and profits of $339 million in first quarter 2014, the company said.

The results, announced Thursday, respectively represented a 5% decrease and 25% increase over first quarter 2013.

October 31, 2013

Mylan experienced a slight dip in sales in its third quarter, due primarily to fluctuating currency values, the generic drug maker said Thursday.

PITTSBURGH — Mylan experienced a slight dip in sales in its third quarter, due primarily to fluctuating currency values, the generic drug maker said Thursday.

October 31, 2013

Rite Aid's same-store sales increased by 2.1% this month compared with October 2012, the retail pharmacy chain said Thursday, also issuing an estimate of the negative effects of Hurricane Sandy on its sales.

CAMP HILL, Pa. — Rite Aid's same-store sales increased by 2.1% this month compared with October 2012, the retail pharmacy chain said Thursday, also issuing an estimate of the negative effects of Hurricane Sandy on its sales.

October 30, 2013

A division of inVentiv Health has acquired Catalina Marketing's medication adherence services subsidiary, inVentiv said Thursday.

BURLINGTON, Mass. — A division of inVentiv Health has acquired Catalina Marketing's medication adherence services subsidiary, inVentiv said Thursday.

The acquisition of Catalina Health by Adheris makes Adheris the largest provider in the nation of tailored, direct-to-patient medication adherence programs, inVentiv said. Catalina Health president Renee Selman will lead the combined company. Financial terms of the deal were not disclosed.

October 30, 2013

Jim Cramer, host of CNBC's "Mad Money," is still bullish on Rite Aid.

NEW YORK — Jim Cramer, host of CNBC's "Mad Money," is still bullish on Rite Aid.

In a segment of "Mad Money Lightning Round" Monday evening, Cramer said of Rite Aid's stock, "I want you to stick with it. They're making a big comeback."

Indeed, the Camp Hill, Pa.-based retail pharmacy chain's stock has been shooting up lately, trading at about $5.26 per share at midday Wednesday after opening at $5.20.

 

October 30, 2013

The Paws Pet Co. is buying an Irvine, Calif.-based compounding pharmacy as it seeks to transition from a pet company into a pharmaceutical company, Paws said.

PALO ALTO, Calif. — The Paws Pet Co. is buying an Irvine, Calif.-based compounding pharmacy as it seeks to transition from a pet company into a pharmaceutical company, Paws said.

October 29, 2013

Actavis had sales of $2.01 billion in third quarter 2013, a 57% increase over the same period last year, the drug maker said Tuesday.

DUBLIN — Actavis had sales of $2.01 billion in third quarter 2013, a 57% increase over the same period last year, the drug maker said Tuesday.

Profits for the quarter were $65.5 million, down from $76.7 million in third quarter 2012. The quarter's results exclude figures from Ireland-based Warner Chilcott, which Actavis acquired at the beginning of the month.

October 29, 2013

Ranbaxy Labs had global sales of $447.6 million in third quarter 2013, compared with $434.6 million in third quarter 2012, the Indian drug maker said Tuesday.

GURGAON, India — Ranbaxy Labs had global sales of $447.6 million in third quarter 2013, compared with $434.6 million in third quarter 2012, the Indian drug maker said Tuesday.

Sales from generics were $208.4 million, while branded and OTC drugs had sales of $239.3 million North American sales were $143.24 million including $128.6 million in the United States, lower than in Q3 2012 due to a large contribution last year from new generic drugs.

October 29, 2013

A selloff of several store leases and the spinoff of two business segments are on the way for Sears Holdings as the company hopes to improve its third quarter 2013 performance, the retailer said Tuesday.

HOFFMAN ESTATES, Ill. — A selloff of several store leases and the spinoff of two business segments are on the way for Sears Holdings as the company hopes to improve its third quarter 2013 performance, the retailer said Tuesday.

The company, which owns the Kmart mass-merchandise and Sears department store chains, said it would sell five store leases in Canada to Cadillac Fairview for about $383.5 million. That deal is expected to close in the next 10 business days.