Hannaford chief apologizes for security breach
SCARBOROUGH, Maine Hannaford’s chief executive officer has sent out apologies to customers for the security breach that was announced a couple of weeks ago, according to the Associated Press.
Ron Hodge sent a message to customers online and through leaflets left in grocery bags. In the note, he apologizes for the “concern and inconvenience” that was created when 4.2 million credit and debit cards were compromised. At least 1,800 cases of fraud have been reported.
Hodge went on to say that the theft has stopped and that top security experts have been brought in to the help the company against further attacks.
Arcadia funds DailyMed with $5 million debt facility
INDIANPOLIS Arcadia Resources, a provider of consumer health services doing business under the trade name of Arcadia HealthCare, has obtained a new $5 million debt facility to fund the growth of DailyMed and its related pharmacy fulfillment strategy.
DailyMed, which launched April 2006, is a retail drug packaging solution that pre-sorts multiple prescriptions, OTC medications and vitamins into easy-to-use single-dose packets.
“The financing will provide Arcadia with the cash to fund DailyMed and our related pharmacy fulfillment strategy and the working capital needs associated with the pharmacy business growth anticipated during our fiscal year beginning April 1, 2008,” stated Marvin Richardson, president and chief executive officer. “This deal represents an important first step towards executing our fiscal 2009 growth strategy and is significant in that the majority of debt will be used to grow our DailyMed business rather than meet core operating cash obligations.”
The facility matures on Oct. 31, 2009, bears interest at an annual rate of 10 percent and is secured by certain company assets.
FDA approves Sun’s generic Tessalon
WASHINGTON Sun has received FDA approval for a generic version of Forest Laboratories’ Tessalon capsules, a treatment for coughs due to the common cold, pneumonia and other lung infections.
The company, a week ago, also announced it had received FDA approval for its generic version of Pfizer’s Cerebyx (fosphenytoin sodium), an injectable anticonvulsant that has annual U.S. sales of approximately $15 million.
Brand and generic Tessalon (benzonatate) have annual U.S. sales of approximately $40 million, according to Sun.