Financial News

LUTRY, Switzerland — Nestlé Health Sciences completed its acquisition of a company that develops "medical foods" for such medical conditions as kidney disease, inflammatory bowel disease and colon cancer.

BAGSVÆRD, Denmark — A collection of relatively new products helped drive up sales and profits at Novo Nordisk, the Danish drug maker said Wednesday. 

Sales increased by 22% in the North American markets when measured in local currencies, and by 29% when measured in Danish kroner, the company said. Operating profits were $3.5 billion, a 16% increase over 2009.

ELMSFORD, N.Y. — Specialty pharmacy provider BioScrip hopes to save $15 million through a cost-reduction and streamlining plan, the company said Monday.

Much of the two-part initiative will be implemented this year and completed by next year. Savings will mostly come from overhead, reduction of spending and restructuring of employee-benefit programs.

ATLANTA — A Minute Maid product has achieved $1 billion in sales worldwide.

Coca-Cola, which owns the Minute Maid brand, reported that Minute Maid Pulpy marked the first Coca-Cola brand that was launched in an emerging market — the drink was launched nationally in China in 2005 — to reach the billion-dollar mark.

Last year, Minute Maid Pulpy was introduced in Algeria, Malaysia, Singapore and Vietnam, followed by rollouts in Mexico and Kazakhstan.

WASHINGTON — Hershey is facing accusations that it has not helped efforts to end child labor, which potentially could impact the sales of its products during one of the biggest sale seasons of the year.

SAN FRANCISCO — McKesson Corp. on Monday reported revenue of $28.2 billion for its fiscal third quarter, ended Dec. 31, 2010. Third-quarter earnings per diluted share were 60 cents, which included a pre-tax average wholesale price litigation charge of $189 million ($133 million after-tax, or 52 cents per diluted share).

ASHEVILLE, N.C. — Off to a strong start for fiscal year 2011, Ingles Markets on Monday reported a 3.8% rise in net sales for its first quarter ended Dec. 25, 2010.

Net income totaled $7.7 million for the quarter, a 28.3% jump from the year-ago period.

Comparable-store sales, the retailer noted, increased 2.9%, both including and excluding gasoline sales.

NEW YORK — Pfizer has completed its tender offer for Bristol, Tenn.-based King Pharmaceuticals, Pfizer said Monday.

Pfizer said 230.7 million shares valued at $14.25 each were tendered, representing about 92.5% of King.

Pfizer made its $3.6 billion offer for King in October 2010. The offer cleared the waiting period mandated by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on Friday.