News

Jean Coutu Group: ‘Good’ Q2 results, eyes promotions and private label to further drive sales

BY Antoinette Alexander

LONGUEUIL, Quebec — Facing a competitive landscape, Canada’s Jean Coutu Group is ramping up promotional activity and working to build loyalty among younger beauty shoppers with its private-label brand.

“A good quarter, second quarter of fiscal 2015, in spite of the restrictive regulatory context in an environment that is [increasingly] competitive,” Francois Coutu, president and CEO of the Jean Coutu Group, told analysts during its second quarter conference call Wednesday morning.

In light of the rise in promotional activity among competitors, the Jean Coutu Group launched two promotions during the quarter and also launched a health-related initiative to help shoppers remain healthier during travel.

“We launched various dynamic programs, including two Super Weekends in May and August, where many door-crasher prices were announced,” said Coutu. “Increases in sales were significant during these two weekends. We also launched various content, which proved to be very popular with our clients.”

In addition, the company announced late last month a five-year partnership with the three Dufour-Lapointe sisters — Maxime, Chloé and Justine — to be the new ambassadors of its Personnelle Cosmetics private-label brand. As previously reported by Drug Store News, the partnership marks the first time the retailer has associated its private-label brand with a public figure.

“The three sisters are young, they are bright, they are healthy and a good image for our youngsters. We want to make sure that the young generation uses Personnelle brand, and that is something that we needed to work on,” Coutu told analysts. “With the three sisters, I think we make some strides there, definitely.”

To help shoppers stay healthy during travel, the retailer distributed free health travel kits to customers, which included information on how to stay healthy while traveling. The company distributed more than 20,000 of the kits to shoppers.

During the quarter, revenues climbed 3.2% to $674.4 million Canadian dollars. The company attributed the increase to overall market growth and the expansion of the PJC network of franchised store, despite the deflationary impact on revenues of the volume increase in prescriptions of generic drugs compared with brand name drugs, as well as the price reductions of generic drugs.

Net profit per share gains related to the investment in Rite Aid amounted to 28 Canadian cents during the quarter compared with 24 Canadian cents in the year-ago period, a 16.7% increase.

The Jean Coutu Group operates a network of 416 franchised stores under the banners of PJC Jean Coutu, PJC Clinique, PJC Santé and PC Santé Beauté. The PJC network’s retail sales, on a same-store basis, increased 2.4%. Pharmacy sales on a comp basis increased 2.7%, while the front end rose 1.6%.
 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

Teva advances development of abuse-deterrent hydrocodone bitartrate extended-release tablets

BY Michael Johnsen

JERUSALEM – Teva Pharmaceutical Industries on Wednesday announced the initiation of a rolling new drug application submission to the Food and Drug Administration for hydrocodone bitartrate extended-release tablets designed with Teva’s proprietary technology, providing potential abuse-deterrent properties (CEP-33237) as allowed for fast-track designated products. Teva expects to complete the NDA submission by the end of 2014. 
 
CEP-33237 is an investigational, 12-hour, acetaminophen-free formulation of extended-release hydrocodone for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment, and for which alternative treatment options are inadequate.
 
Teva also announced positive results from a nasal Human Abuse Liability study which supports the NDA. The nasal HAL study found that in nondependent, recreational opioid users, abuse potential for crushed intranasal CEP-33237 was significantly lower than intranasal immediate-release hydrocodone.
 
“Teva understands the risk of opioid abuse is a societal challenge and one many healthcare professionals face in treating people living with chronic pain,” said Michael Hayden, president of global R&D and chief scientific officer at Teva. “While the science of abuse deterrence is rapidly evolving, we are pleased with the results of our HAL studies and the comprehensive clinical program that supports the NDA for CEP-33237.”
 
 
Teva has now completed positive HAL studies in the two most common routes of hydrocodone abuse, oral and intranasal.
 
In the intranasal HAL study, abuse potential was significantly lower for crushed intranasal CEP-33237 (45 mg) than for intranasal IR hydrocodone powder (45 mg) based on peak at-the-moment drug liking and peak overall drug liking.
 
In the oral HAL study, abuse potential was significantly lower for crushed CEP-33237 (45 mg) powder than for IR hydrocodone (45 mg) based on peak at-the-moment drug liking. Overall drug liking was also significantly lower for crushed CEP-33237 compared to IR hydrocodone.
 
In both studies, intact CEP-33237 showed similar abuse potential to placebo.
 
“The comprehensive clinical program supporting CEP-33237 is an example of Teva’s long-term commitment to advancing responsible pain care,” said Richard Malamut, VP global clinical development and therapeutic area head of pain at Teva. “While no product or technology can completely eliminate abuse, having both positive oral and nasal HAL data speaks to the potential of CEP-33237 as a chronic pain treatment option with abuse deterrence properties.”
 
Topline results from the CEP-33237 pivotal Phase III study announced on April 30, 2014 showed significant improvement in the treatment of patients’ chronic low back pain as measured by both weekly Average Worst Pain Intensity and weekly Average Pain Intensity scores. The full results from the Phase III trial will be presented at the 15th World Congress on Pain hosted by The International Association for the Study of Pain in Buenos Aires, October 6 to11.
 
CEP-33237 demonstrated a safety profile in the Phase III study that is consistent with the known safety profile of hydrocodone and other opioid analgesic therapies. Adverse events reported in 5% or more of hydrocodone-treated patients during either the titration or double-blind treatment periods included: nausea, constipation, vomiting, headache, somnolence and dizziness.
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
News

CRN convenes a keynote panel in celebration of the 20th anniversary of DSHEA at annual meeting

BY Michael Johnsen

WASHINGTON — The Council for Responsible Nutrition on Wednesday announced it will convene a keynote panel of legal, regulatory and legislative experts in celebration of the 20th anniversary of the Dietary Supplement Health and Education Act of 1994 at The Conference: CRN’s Annual Symposium for the Dietary Supplement Industry, Nov. 5 to 8.
 
The three panelists, all of whom were there for the birth of DSHEA, were among those who helped create, marshal and pass the landmark legislation that the industry has lived under for the past 20 years. This session will reunite these key players who will share their personal anecdotes and assessments about how and why DSHEA came about, and whether it’s still the appropriate law for the industry.  
 
Scott Bass, partner, Sidley Austin, will deliver the keynote address. Bass played a key role in shaping DSHEA as an industry representative with what was then the National Nutritional Foods Association. Following his remarks, Patricia Knight, strategic partner, Knight Capitol Consultants and Kay Holcombe, SVP science policy, BIO, the Biotechnology Industry Organization, will take the stage along with him as panelists. In 1994, and for many years before and after, Knight was an integral leader in the office of Sen. Orrin Hatch, D-Utah — a longtime industry champion, and one of the architects responsible for creating and passing DSHEA. Holcombe served as professional health legislative staff and senior health policy advisor to the Energy and Commerce Committee in the House of Representatives under Rep. John Dingell, D-Mich., and was instrumental in developing the bill and building consensus in the House.
 
“We are excited to hear from these three policy veterans who were so important 20 years ago to DSHEA’s passage into law,” stated Mike Greene, VP government relations, CRN. “There were so many people involved in DSHEA’s passage, but Scott, Trisha and Kay possess a unique perspective, having remained active in the dietary supplement and regulatory arena since that time. We trust they will provide interesting historical notes on the law that still shapes our business today, as well as counsel on the future of DSHEA and the dietary supplement industry.”
 
The “DSHEA at 20” session will take place the morning of Thursday, Nov. 6. In addition to the Conference, CRN is presenting The Workshop: CRN’s Day of Science, an all-day symposium on Nov. 5, just prior to The Conference. 
keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?