Financial News

ALLEGAN, Mich. — Solidifying Perrigo’s leadership position in topical foam-based generic prescription pharmaceuticals, the company announced it has signed a definitive merger agreement and completed the acquisition of Cobrek Pharmaceuticals, a privately-held, Chicago-based drug development company, for approximately $45 million.

CAMP HILL, Pa. — Rite Aid's fundamentals are improving, and Wall Street has taken notice. 

Rite Aid stock was up slightly by three cents late Thursday afternoon from its previous close of $1.41 per share. But shares were trading at $1.02 per share on Dec. 19, the day before Rite Aid announced third quarter results. 

NEW YORK — Consumers continued to shop online in ever-increasing numbers this holiday season, according to Chase Holiday Pulse, an aggregator of payment processing data from 50 of Chase Paymentech's largest U.S. e-commerce merchants. Pulse results showed YTD year-over-year sales growth of 15.2%.

For the overall holiday season, Oct. 29 through Dec. 25, the Pulse analysis also revealed transaction growth was up 24.3% YoY, while the average ticket price number continued to decline by 7.3% YoY.

PARSIPPANY, N.J. — Watson Pharmaceuticals will present at two conferences sponsored by financial banks, the company said.

Watson said that president and CEO Paul Bisaro would provide an overview and update of the company's business at the 2013 Goldman Sachs "Healthcare CEOs Unscripted: A View from the Top" conference, scheduled for Jan. 3, 2013, at the Goldman Sachs Conference Center in New York.

Six days later, on Jan. 9, Bisaro will present at the annual J.P. Morgan Healthcare Conference, at the Westin St. Francis Hotel in San Francisco.

DEERFIELD, Ill. — Though total same-store sales were down 8%, Walgreens Friday morning characterized a first quarter lifted by a steady influx of returning Express Scripts patients and driven by a steady stream of new Balance Rewards members. The Chicagotown retailer has signed 45 million Walgreens faithful since mid-September. "Today, we have the wind at our backs as we head into a new calendar year," Walgreens president and CEO Greg Wasson told analysts Friday morning.  

JERUSALEM — Teva Pharmaceutical Industries is buying $1 billion worth of its debt, the Israeli drug maker said.

Teva said its finance division, Teva Pharmaceutical Finance IV, had called for redemption of its $1 billion outstanding principal amount of 1.700% senior notes due 2014, funded with proceeds from the company's offering of $2 billion principal amount of senior notes, priced on Dec. 13, 2012, and closed Tuesday.

The redemption date will be Jan. 7, 2013.

SAN BERNARDINO, Calif. — Sales at Stater Brothers increased by 1.83% to $67.8 million in fiscal year 2012, the company said in an earnings report.

The 167-store chain's sales for the fiscal year, which ended Sept. 30, were $3.9 billion, thanks in part to an extra week; without the extra week, sales would be $3.8 billion, but still higher than 2011's $3.7 billion. Profit for the year was $37.7 million, compared with $26.3 million in fiscal year 2011.

CAMP HILL, Pa. — Rite Aid beat analyst expectations in third quarter 2013 as the generic wave and retention of Express Scripts customers helped drive better-than-expected adjusted EBITDA and produced the company's first profitable quarter in five years.

"I am proud that we have achieved this significant milestone by putting our customers first and challenging ourselves to better serve them," Rite Aid president, chairman and CEO John Standley said in a conference call with Wall Street analysts Thursday morning.