FDA approves inhalant for PAH
SILVER SPRING, Md. The Food and Drug Administration has approved an inhaled drug for treating pulmonary arterial hypertension.
United Therapeutics Corp. announced Thursday the approval of Tyvaso (treprostinil). The drug is used to increase the walking distance in patients with certain types of PAH.
“We are thrilled to have a fourth approval from the FDA for treatment of this serious cardio-pulmonary condition,” United Therapeutics’ chairman and CEO Martine Rothblatt said in a statement.
CheapTweet seeks to bring sweet deals to retailers, consumers
AUSTIN, Texas CheapTweet.com on Wednesday announced that it is working with retailers and consumers to help locate and deliver deals on Twitter for kids’ and juniors’ apparel and accessories, school supplies, and more.
CheapTweet is a “deals” search engine with an engaged community of shoppers who vote on deals and coupons from Twitter to form an easily searchable index. CheapTweet also works with retailers to maximize their presence on Twitter with its new CheapTweet Stores feature.
“On Twitter, you live and die by relevance,” stated Hayes Davis, CEO of Appozite, CheapTweet’s parent company. “Brands that are transparent and strategic about how they use social media to communicate with their customers will be the only brands that thrive on Twitter. CheapTweet aligns perfectly with this strategy, since our goal is to help our community save money by engaging with their favorite brands, unlike traditional advertising.”
Duane Reade reports increase in same-store sales
NEW YORK Duane Reade on Wednesday posted a same-store sales increase of 1.7% as it narrowed its loss during the second quarter.
“We are encouraged by our continued solid performance despite a weak external environment and are also pleased with our 6.3% increase in adjusted FIFO EBITDA. We made significant progress on the transformed store locations. The customer response to our improved offering and store design remains exceedingly positive with an expanding level of awareness of the improvements we have made. We are encouraged by this momentum and remain committed to better serving New Yorkers as we aim to become a destination brand,” stated John Lederer, chairman and CEO.
For the quarter ended June 27, the 253-store chain posted net retail store sales, which exclude pharmacy resale activity, of $450.3 million, up 4.2% compared with the year-ago period. Total net sales rose 6.1% to $479.1 million. Total same-store sales rose 1.7%, while front-end same-store sales increased 0.2%. Pharmacy same-store sales rose 3.6%.
Net loss for the quarter was $11.6 million, compared with $12.1 million in the year-ago period.
“As we look to the second half of the year, we remain cautiously optimistic about our prospects for continued growth in our business and remain in track with our expectations for adjusted FIFO EBITDA, even as we take into account continued external challenges. We are pleased with Oak Hill’s demonstrated confidence in our transformation plans and appreciate the firm’s ongoing support as our equity partner. Further, we anticipate that our debt refinancing will be completed shortly and look forward to the benefits of operating our business with added financial flexibility as we continue to identify and pragmatically realize our opportunities for long-term growth,” stated Lederer.