Lilly to acquire Avid
INDIANAPOLIS and PHILADELPHIA Eli Lilly’s acquisition of a leader in molecular imaging development could boost its Alzheimer’s disease drug pipeline.
Lilly said it inked a definitive merger agreement to acquire Avid Radiopharmaceuticals. Under the terms of the agreement, Lilly will acquire all outstanding shares of Avid for an upfront payment of $300 million, subject to adjustment based on existing cash on hand at closing. Avid stockholders also will be eligible for up to $500 million in additional payments, contingent upon potential future regulatory and commercial milestones for florbetapir, a molecular imaging agent under investigation for detecting the presence of amyloid plaque in the brain. Beta-amyloid plaque is a defining pathology of Alzheimer’s disease. A marketing application for florbetapir recently was submitted to the Food and Drug Administration.
The acquisition of Avid also provides Lilly with a diagnostics development platform covering several disease areas, including Parkinson’s disease and diabetes.
"The acquisition of Avid Radiopharmaceuticals aligns well with Lilly’s innovation-based strategy, offers a potential near-term revenue opportunity, leverages our neuroscience expertise and will immediately bolster our diagnostics capabilities," said John Lechleiter, Lilly chairman and CEO. "We look forward to partnering with Avid’s experts during the regulatory process for florbetapir, and are intent on gaining FDA approval for this promising diagnostic intended to help clinicians and researchers identify the presence of beta-amyloid plaque in the brain."
Added Daniel Skovronsky, Avid’s founder and CEO, "We are very excited to join the great scientific team at Lilly and continue our work to develop new molecular imaging agents capable of changing the medical management of significant chronic human diseases. We’ve had a productive and long-standing relationship with Lilly, and believe in their approach to providing improved outcomes for individual patients."
Mintel releases annual consumer packaged goods trend predictions
NEW YORK A “natural shakedown,” a twist on sustainability and “old is new” are some consumer packaged goods trends that are on the horizon for 2011, according to Mintel research.
“These annual predictions represent continuations of current big-picture trends, rather than major changes in the marketplace and what companies are doing,” stated Lynn Dornblaser, director of innovation and insight at Mintel. “Understanding the major trend areas and how they change from year to year is essential for companies to be successful when developing and launching new products.”
Mintel has predicted a dozen consumer packaged goods trends that will impact product development in 2011 spanning across such categories as health and wellness, the environment, demographics, marketing and media, convenience, and indulgence. Six of these core trends include:
- Quiet reduction: Sodium, sugar and high-fructose corn syrup are three well-known ingredients that appear to be experiencing covert reductions in product formulations. While sodium reduction has long been the focus of “quiet reduction,” sugar and HFCS are jumping on board.
- Redefining natural: While all types of natural claims have grown in importance in all regions and across all product categories, the term “natural” is still ill-defined. Terms that are vague or not well-understood will come under fire, and the industry is due to see an intervention of regulatory bodies, according to Mintel. Also, expect to see a new focus on accentuating the positives of what is in a product, rather than emphasizing what is not in it.
- Professionalization of the amateur: Mainstream brands are getting into a more serious “professional” arena by bringing into the home what used to require a specialist service. This trend arguably has its origins in personal care markets with “salon-style” hair treatments for home use, but continues to expand to include household (“professional-strength” cleaning products) and food (chef-endorsed, restaurant-style meals).
- Sustainability stays focused on the basics: Sustainability is not slipping down the priority list; but instead of seeing new developments, expect to see a few twists. There will be a greater focus on reduced packaging that promotes environmental responsibility in combination with uniqueness, such as boxless cereal bars or more cereals without the inner bag. Also, expect water usage to become a hot, consumer-facing issue in 2011. Companies will be looking for ways to conserve water and change their consumption habits.
- Blurring categories: Manufacturers’ response to consumer needs is the driver to developing hybrid products. Consumers don’t necessarily view products as being in one category or another; rather, they look for solutions that meet their needs, and that may be something that straddles multiple categories. Sparkling beverages are appearing more frequently and being positioned as a source of refreshment, as well as sophistication. Beyond hybrid forms, Mintel also is seeing a blurring of how consumers use products — with beverages consumed as snacks, snacks as meals, and personal care and home care products that do more than one thing, as well.
- New retro: Over the last year, more big brands have revitalized old products and old ad campaigns, tapping into the escalating trend of nostalgia. Mintel anticipates more of these in 2011. Companies are returning to a time when life seemed somehow easier, whether that’s the 1980s for consumers in their 20s, or the 1970s or 1960s for older consumers. Expect to see this with brands using old formulations, old package designs, re-runs of advertising campaigns or new ads with a retro feel.
Duane Reade to carry Winning Colours stain remover in January
NEW YORK Winning Brands will make its Winning Colours stain remover available in 100 Duane Reade locations starting January 2011, the manufacturer announced on Friday.
The stores will carry the new Winning Colours stain remover 12-unit display pack containing 4-fl.-oz. bottles designed for tight spaces and busy lives.
"Some New Yorkers already know about Winning Colours for paint-mess cleanups, but there are a thousand more drips, drops and disasters at home, work, for patient care and on-the-go that make this a great fit for Duane Reade shoppers," stated Winning Brands CEO Eric Lehner. "The urban experience calls for compact, convenient solutions wherever possible. Reaching for the power, versatility and skin-friendliness of Winning Colours’ 4-fl.-oz. handy size will be a natural thing for pharmacy shoppers to do."