Biogen Idec, Cardiokine terminate lixivaptan agreement
WESTON, Mass. Swiss drug maker Biogen Idec and U.S. drug maker Cardiokine have terminated an agreement to develop a treatment for abnormally low sodium levels in the blood, the two companies said Wednesday.
The agreement will give Cardiokine all rights to lixivaptan, a treatment for the condition, known as hyponatremia. The collaboration began in 2007, and the drug is in late-stage clinical studies.
“I am pleased that we have regained exclusive global rights to lixivaptan, a potentially important advance in the treatment of hyponatremia,” Cardiokine president and CEO Amber Salzman said. “We are nearing the completion of the phase-3 program and look forward to studying results and confirming our registration plans in the near future.”
CNE announces partnership with Hallmark Cards
NEW YORK Cartoon Network’s global licensing and merchandising arm has inked a deal with a greeting card manufacturer.
Cartoon Network Enterprises said its long-term partnership with Hallmark Cards will include greeting cards and party supply items based on Cartoon Network’s portfolio of brands, including Ben 10 Ultimate Alien, Generator Rex and Adventure Time, CNE said.
Hallmark’s product offerings will be available throughout North America.
Net sales jump in Q3 for Drugstore.com
BELLEVUE, Wash. Drugstore.com on Tuesday reported a 23% increase in net sales to $108.8 million for the third quarter ended Oct. 3.
“Including a strong performance from SkinStore.com, over-the-counter sales increased 26% year-over-year,” stated Dawn Lepore, CEO and chairman at Drugstore.com. “During the quarter, we did experience supply constraints from a few of our major vendors and some softness in discretionary spending, which impacted growth and resulted in increased promotions,” she said. “[But] with continued growth in our [over-the-counter] and vision segments, we remain on track to hit our 2010 goals of OTC revenue growth of 24% to 28%, doubling our prestige beauty business and delivering $16 to $20 million in revenues from our partnerships.”
For fourth quarter 2010, Drugstore.com is targeting net sales in the range of $118 million to $122 million. As a reminder, fourth quarter 2010 is a 13-week period and compares with a 14-week period in fourth quarter 2009, the online retailer stated.
Drugstore.com served approximately 447,000 new customers, excluding strategic partnerships, during the quarter, up 21% over the same period in the prior year. Marketing and sales expense per new customer, excluding partnership orders, increased to $25.