Decision Resources: Acute migraine therapy designed for vascular disease patients will capture market share
WALTHAM, Mass. A company that develops a drug for acute migraines in pill form that doesn’t interact with patients’ vascular disease could capture almost half of the market share, according to a report by Decision Resources.
The report, released Wednesday, found that if a company were to develop such a drug, one that patients with a history, symptoms or signs of vascular disease could use, it would earn a 45% share of patients, according to a survey of U.S. neurologists. Current drugs used to treat migraines, called triptans, are known to carry a risk of cardiovascular side effects.
The report also found that the injectable Sumavel DosePro (sumatriptan), made by Zogenix, Astellas Pharma and Desitin Pharmaceuticals, will become Decision Resources’ proprietary gold standard for migraine in 2013. The drug was launched in the United States in January.
Duane Reade’s Q4 driven by store renovations, sales growth
NEW YORK Duane Reade announced on Tuesday that fourth-quarter sales rose 5.3% due in part to store renovations and strong pharmacy same-store sales growth.
Net retail store sales, which exclude pharmacy resale activity, increased 5.3% to $451.3 million from $428.6 million in the fourth quarter 2008. Total net sales inclusive of pharmacy resale activity rose 0.1% to $465 million.
Total same-store sales increased 2.6% as pharmacy same-store sales rose 6%. Front-end same-store sales increased 3.5% driven, in part, by strong sales of food and beverage items and OTC products.
Net loss for the fourth quarter was $84.8 million, compared with a loss of $17.4 million in the year-ago period. The retailer attributed the increase to an additional $59.5 million in fair value charges for the preferred stock’s mandatory redemption features.
For the full year, total net sales were $1.84 billion, reflecting an increase of 3.6%. Net retail store sales increased 4% to $1.76 billion.
Total same-store sales for the year increased 1.5%, with a front-end same-store sales decrease of 0.8% and a pharmacy same-store sales increase of 4.6%.
For the full year, net loss was $124.3 million, compared with a loss of $72.8 million in 2008. The increase in net loss, according to the 257-store chain, is attributable to the fourth-quarter fair value charge related to the company’s preferred stock, partially offset by a $12.5 million gain on debt extinguishment and the improvement in full year operating loss.
As previously reported, Walgreens is looking to acquire Duane Reade from affiliates of Oak Hill Capital Partners in a cash deal valued at about $1.08 billion, which includes the assumption of debt.
Kroger’s Southwest division launches ‘Low Prices Plus More’ campaign
HOUSTON One of the largest retail grocery chains in the United States is reaffirming its committment to customers by kicking off a new marketing campaign in its Southwest division.
Kroger, which operates 209 stores and 90 fuel centers in Texas and Louisiana, is kicking off a cost-saving program. On any given day, more than 10,000 yellow tags are lined along the shelves that indicate deeper cost savings for customers, Kroger said. Additionally, the program will be supported by new store signage, television, print and radio spots to promote its value-added services and broad range of national and store-brand items.
“Kroger continues to be a leader in meeting customers’ ever-changing household needs. We recognize that over the past few years, families have changed their lifestyles and purchase styles but still desire quality products at an affordable cost along with friendly customer service,” said Bill Breetz, president of the Kroger Southwest Division. “In 2009, we saved Texas shoppers over $32 million through our various money-saving features like our everyday senior discount, coupon and fuel rewards programs.”