Content about Financial News

The world market for generic drugs will jump more than 15% this year and reach a global total of $127.8 billion, a British market research firm predicted.

NEW YORK — Despite caution among consumers, retailers wrapped up 2012 with a healthy holiday shopping season, according to a new report by a retailing trade group.

The National Retail Federation said Tuesday that holiday retail sales increased 3% over the year before, to $579.8 billion. December retail sales increased 0.8% seasonally adjusted from November and 2.1% unadjusted year over year. Nevertheless, the 3% increase was still below the NRF's projected 4.1% growth. Meanwhile, nonstore holiday sales grew 11.1%.

As Seen on TV products continue to command more space on drug store shelves, not only during the holiday season but year-round.

The first quarter of 2013 is looking strong since manufacturers have a number of new products on the market that have already proven popular with consumers.

“Manufacturers have been spending on ads to drive sales, but there have also been some great products,” said Mike Govindani, president of Screen2Store. “The category was strong last year, and business is up again for 2013.”

GlaxoSmithKline’s Alli is back. And while the brand is still slightly down versus year-ago sales  — Alli posted a sales decline of 8.9% to $13.9 million across all channels for the 12 weeks ended Nov. 4, according to SymphonyIRI Group — overall, the category is trending up 15% in quarterly sales increases. The recent resumption of marketing efforts behind Alli coupled with recent New Year’s resolutions should maintain Alli’s position as the top-selling diet-aid tablet, and the only OTC option in the category.

NEW YORK — Pet supplements represent a new mostly untapped market opportunity for the OTC section in the retail pharmacy setting. Consumers spent an estimated $52.9 billion last year on their pets, up 3.7% as compared with 2011 actual sales, according to the American Pet Products Association.

In the current economy, microwavable single-serve meals may be the answer to consumers’ decreased restaurant use. “These meals occupy the spot between homemade and restaurant meals,” said Harry Balzer, chief industry analyst and VP at NPD Group. “They represent food
service redefined.”

NEW YORK -- Growth in the consumer products market is likely to slow down over the next five years, while pharmacy retailers will see a profit windfall due to the generic drug cycle, according to a new report.

MINNEAPOLIS — The sale of 877 stores to Cerberus Capital Management will help Supervalu re-energize its remaining three businesses, current Supervalu president and CEO Wayne Sales told analysts Thursday morning. "What this means … is the company is smaller," Sales said. "And we exit with a much smaller balance sheet to ensure liquidity going forward," he said. This sale will not be followed by any further divestitures, Sales said. "We're not shopping any other assets."

 CHICAGO — "[The year] 2012 was definitely an important year for Walgreens," Greg Wasson, Walgreens president and CEO, told shareholders here, at the Navy Pier, Wednesday afternoon, at the chain's annual shareholder meeting. "We did make some tough choices to protect and solidify … our position for the long term," he said. "[But] our vision is crystal clear to become the first choice for health and daily living in America."

HOFFMAN ESTATES, Ill. — The CEO of Sears Holdings is stepping down due to unspecified family health reasons, the company said.

Sears, the parent company of Kmart, said Lou D'Ambrosio would step down on Feb. 2, the end of the company's fiscal year. Edward Lampert will assume the role of CEO and chairman, while D'Ambrosio will remain on the board until the company's next annual meeting, in May 2013.

NEW YORK — The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday. 

NEW YORK — According to a Bloomberg report published Friday morning, Abbott Laboratories, Johnson & Johnson and Sanofi are all potential suitors for Bausch & Lomb's eye care business in a deal that could be valued as high as $10 billion. 

B&L is being shopped by private equity firm Warburg Pincus, which is working with Goldman Sachs Group, Bloomberg reported, and both Abbott and Sanofi have contracted financial advisors as well. 

Other companies who have been invited to bid include Merck and Pfizer.