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  • Pfizer inks deal with Santaris

    SAN DIEGO — Pfizer will pay Danish biotech company Santaris Pharma $14 million for access to its development platform for RNA-based therapies, Pfizer said Tuesday.

    The drug maker said the deal would expand on an existing one between Hoersholm, Denmark-based Santaris and Wyeth, which Pfizer acquired in 2009. Santaris could take in up to $600 million in milestone payments, as well as royalties on products developed under the collaboration.

  • Mylan settles Medicaid reimbursement suit

    PITTSBURGH — Generic drug maker Mylan has settled a lawsuit concerning Medicaid reimbursements with the federal government and the state of Texas, Mylan said Dec. 24.

    Under the settlement, Mylan will pay $65 million.

    Several state attorneys general filed lawsuits against Mylan and other drug companies in September 2003 over Medicaid reimbursements, alleging that the companies defrauded the programs by reporting average wholesale prices greater than the prices of their prescription drugs, thus causing the programs to make excessive payments to healthcare providers.

  • Drug stores expected to close out 2010 on strong note

    NEW YORK — Credit Suisse analysts on Monday projected strong front-end sales and improved pharmacy comparisons for December.

    “Industry front-end sales growth will accelerate in December on easier comparisons and increased promotional activity,” Credit Suisse research analyst Edward Kelly noted. “Sales last year were negatively impacted by low levels of seasonal inventory (especially at Walgreens) and unusually soft flu activity after an early start to the season,” he added.

  • Helen of Troy closes Kaz transaction

    EL PASO, Texas — Helen of Troy on Monday announced that it has completed its acquisition of humidifier manufacturer Kaz. Sales for the next 12 months, ending Dec. 31, 2011, are expected to exceed $400 million, the company announced.

  • DeMet's acquires TrueNorth brand from Frito-Lay

    STAMFORD, Conn. — A nut snack brand now is part of a candy company's portfolio.

    DeMet's Candy Co. said it has completed its acquisition of the TrueNorth brand from Frito-Lay North America, a PepsiCo division. The acquisition is said to build on the confectioner's existing portfolio, which includes such treats as Flipz, Treasures and Stixx. DeMet's is owned by a private equity fund.

  • SC Johnson takes on shoe care

    RACINE, Wis. — SC Johnson has inked a deal to acquire Sara Lee's global shoe care business, which includes the iconic Kiwi brand.

    SC Johnson's portfolio of household products, which hosts such brands as Pledge and Windex, now will feature the Kiwi family of brands, including Sara Lee's Bama International, which sells shoe accessories in specialty channels in Europe and Canada, and Kiwi Kleen, a line of household cleaning products sold mainly in Asia Pacific using the Kiwi branding.

    The company expects to complete the acquisition by mid-2011.

  • Rite Aid expected to make biggest recovery in 2011

    NEW YORK — Rite Aid stock is expected to make the biggest stock-price recovery in 2011, according to a poll of TheStreet readers.

    According to the poll, published Thursday morning on TheStreet.com, 28.2% of voters believe the drug store will experience the largest rally of the most depressed stocks of 2010. This in spite of the fact that Rite Aid earlier this week restated year-end projections following an underperforming quarter.

  • Walgreens drives accelerating renewal program

    DEERFIELD, Ill. — In a resounding declaration that its massive revitalization efforts have been the right strategy at the right time, Walgreens on Wednesday reported its net earnings jumped to a record $580 million in first quarter fiscal 2011, rising nearly 19% over prior-year levels. Sales for the period ended Nov. 30 also rose 6% to $17.3 billion, another record for the nation’s top drug retailer.

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