Financial News

PITTSBURGH — Sales at generic drug maker Mylan increased by 12% during first quarter 2011, compared with first quarter 2010, the company said Tuesday.

Sales for the three months ended March 31 were $1.45 billion, compared with $1.29 billion during the same period a year ago. Profits, meanwhile, were $104.2 million, compared with $61.1 million in first quarter 2010.

MELROSE PARK, Ill. — Alberto Culver reported a 6.1% increase in its second-quarter net sales for the period ended March 31.

The company that's behind such beauty care brands as Tresemme, Alberto VO5, Nexxus, St. Ives, Simple and Noxzema said second-quarter net sales rose to $408.2 million from $384.8 million in the prior-year second quarter. On an organic basis, which excludes the effect of foreign currency fluctuations, sales increased 4.3% in the current quarter, led by high single-digit branded beauty care sales growth.

JERUSALEM — Cephalon has another suitor in the form of the world’s largest generic drug company.

Teva Pharmaceutical Industries said Monday that it would buy Frazer, Pa.-based Cephalon for $6.8 billion, undercutting efforts by Valeant Pharmaceuticals International, which had offered $5.7 billion in March.

The boards of both companies have agreed to the acquisition, equal to $81.50 per share. Cephalon previously had turned down Valeant’s offer, prompting the Mississauga, Ontario-based company to take its case directly to Cephalon’s shareholders.

LAKELAND, Fla. — Strong earnings and sales growth in the first quarter helped drive up Publix's stock price.

Publix’s sales for the first quarter of 2011 were $6.8 billion, a 4.4% increase from last year’s $6.5 billion. Comparable-store sales for first quarter 2011 increased 2.8%. Net earnings for the quarter were $398.2 million, compared with $364.4 million in 2010, an increase of 9.3%. Earnings per share for the first quarter increased to 51 cents for 2011, up from 47 cents per share in 2010.

PARIS — Sanofi-Aventis on Thursday reported strong sales out of the gate for its recently switched second-generation antihistamine Allegra.

Allegra generated in excess of $26.7 million within its first month available as a nonprescription allergy treatment in the U.S. market, becoming No. 2 in terms of dollar share of allergy, the company reported.

First-quarter sales of Sanofi’s Consumer Health Care totaled $1.1 billion, representing an increase of 40.3%.

ASHEVILLE, N.C. — Net sales and net income for Ingles Markets realized a 4% and 38% increase, respectively, during the second quarter ended March 26, the retailer announced Friday.

Ingles reported that second-quarter net sales rose $33.4 million to $870.4 million, while second-quarter net income increased from $5.6 million to $7.7 million.

WOONSOCKET, R.I. — CVS Caremark's Charitable Trust, the private foundation managed by CVS Caremark, has donated $75,000 to the American Red Cross in support of relief efforts in Alabama for communities impacted by tornadoes earlier this week.

BENTONVILLE, Ark. — Walmart announced that through its charitable arm, the Walmart Foundation, it is committing $1 million in cash and in-kind donations to support emergency relief efforts following the recent Southern storms, Midwest floods and Texas wildfires.