FDA approves new cancer drug from Cephalon
WASHINGTON The Food and Drug Administration ahs announced its approval of Cephalon’s new cancer drug, Treanda. This recent approval hopes to raise the company’s shares, which have fallen 29 percent since June, published reports claim.
Treanda, indicated for chronic lymphocytic leukemia, was granted priority review by the FDA. The FDA approval of Treanda will mark the first big step in the oncology department for Cephalon, which normally makes its sales on pain relievers and treatments for central-nervous-system disorders. According to reports, the approval of this drug will bring it close to competing with major drug companies.
The approval of Treanda not only is expected to raise the share price of the company, but will also pave the way for Cephalon to introduce more cancer-related drugs into the market. As a result, shares of Cephalon were up $2.79, or 4.7 percent, to $62.14.
Clarification: Goldman leaves CVS, Sansone to succeed him
WOONSOCKET, R.I. CVS Caremark has confirmed that Allan Goldman, vice president of general merchandise and consumables has left the company.
Succeeding Goldman at CVS is Judy Sansone, vice president of merchandising.
Drug Store News had previously reported that Goldman was joining Duane Reade. However, Goldman said he is not joining Duane Reade. It is unclear at this time where Goldman will land next as he could provide no further comment.
Goldman, who was crowned the winner of the general merchandise merchant of the year award at the 20th Annual Drug Store News REX Awards ceremony, was recruited by CVS in 2001. Before joining CVS, he was vice president of merchandising at PlanetRx.com.
From March 1995 to July 1998, Goldman served as senior vice president of marketing and merchandising for The Cosmetic Center, a retail cosmetic company. From June 1988 to February 1995, he served as vice president of merchandising for Rite Aid.
Walgreens to launch private label clothing line
Walgreens is expanding its private label offerings to include a clothing line, Casual Gear. As reported by The Chicago Tribune, the line will launch in April at most of Walgreens 6,000 stores.
The line will feature capris, sweat pants, vests and T-shirts that will retail between $7 and $15, reportedly.
Walgreens reported February sales of $4.9 billion, and increase of 14.5% from $4.3 billion for the same month in 2007. Sales in comparable-stores rose 8.3%, while comparable-store front-end sales increased 8.2%.