Financial News

NEW BRUNSWICK, N.J. — McNeil Consumer Healthcare has returned approximately 75% of its OTC portfolio to store shelves, Alex Gorsky, Johnson & Johnson chairman and CEO told analysts Tuesday. "Growth in the consumer segment was achieved in part as a result of our success in restoring a reliable supply of OTC products to the United States marketplace, and we’re starting to see them gain traction as well, once they’re back in the market," he said. Gorsky outlined a number of brands that have grown J&J's U.S.

JERUSALEM — Teva Pharmaceutical on Tuesday announced that it has entered into a definitive agreement under which Teva will acquire NuPathe for $3.65 per share in cash, or approximately $144 million. In addition to the upfront cash payment, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment, Zecuity, are achieved over time.

DUBLIN — Actavis Pharma recently announced that it intends to enter into an agreement for Aurobindo Pharma to acquire Actavis' generics commercial operations in seven markets in Western Europe. The transaction is conditional on certain antitrust approvals and completion of employee consultation processes. 

MALVERN, Pa. — Endo Health Solutions on Tuesday announced that NuPathe has terminated its merger agreement. Endo received a $5 million termination fee from NuPathe.

ZAANDAM, the Netherlands — Ahold's shareholders on Tuesday approved the company's proposal to return €1 billion (US$1.4 billion) to shareholders by way of a capital repayment and reverse stock split.

 Shareholders voted at an extraordinary general meeting held at Ahold's headquarters. The meeting was attended by 65 shareholders, representing approximately 657 million votes.

CINCINNATI — Kroger and Harris Teeter Supermarkets on Friday announced that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the pending merger transaction between the two companies.

The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending merger, which remains subject to other customary closing conditions. Both companies expect the transaction to be completed before the end of January.

ZAANDAM, The Netherlands — Ahold on Thursday announced consolidated net sales of €7.5 billion (U.S. $10.2 billion) for fourth quarter 2013, a decrease of 1.1% at constant exchange rates compared to fourth quarter 2012. 

 For the full year 2013, consolidated net sales were $44.3 billion, an increase of 2% at constant exchange rates compared to 2012. 

In the United States sales in the fourth quarter were down 2.1%, reflecting a contracting food market and the sales effect of Hurricane Sandy last year, the international grocer stated. 

NEW YORK — Three drug makers are looking into buying Pfizer's branded-generics drug business, according to published reports.

Reuters reported that Actavis, Valeant Pharmaceuticals International and Mylan had expressed interest in buying Pfizer's business segment focused on generic drugs. However, Reuters reported that Pfizer was not yet ready to make a deal and was in the process of a potential separation of the generics unit.