M&M’s brand introduces its biggest candy yet
HACKETTSTOWN, N.J. — M&M’s brand announced the introduction of Mega Milk Chocolate candies, which have three times the chocolate of a regular M&M’s brand milk chocolate candy. The brand’s Mega Peanut Chocolate Candies also boast more chocolate as well as a bigger peanut on average when compare to the regular M&M’s Peanut Chocolate Candies.
The new Mega Milk Chocolate confections are available now in two sizes: 1.5-oz. singles (with a suggested retail price of $1.09) and 11.4-oz. medium bags ($3.29). M&M’s Mega Peanut Candies are available in 11.4-oz. bags for a SRP of $3.29.
Purdue Pharma submits NDA for hydrocodone bitartrate tabs
STAMFORD, Conn. — Purdue Pharma on Wednesday announced that it filed a new drug application with the Food and Drug Administration to market a hydrocodone bitartrate tablet.
The pain medication was formulated to incorporate abuse-deterrent technology, making the drug more difficult to manipulate for the purpose of abuse, the company said. Data from clinical trials of the investigational medicine were presented at the 33rd Annual Scientific Meeting of the American Pain Society in Tampa, Fla.
"Healthcare professionals need an array of therapeutic options in order to individualize the care they provide to their patients with chronic pain,” said Todd Baumgartner, MD, MPH, Vice President of Regulatory Affairs and Chief Medical Officer at Purdue Pharma. “If approved by the FDA, we believe this product will be a valuable therapy for use in treating chronic pain that is also expected to deter misuse and abuse by various routes of administration.”
Hydrocodone products are the most commonly prescribed opioid analglesics in the United States and also are the most widely abused, according to the Substance Abuse and Mental Health Services Administration. Hyrdrocodone formulations that are currently available don’t incorporate abuse deterrent technologies, Purdue noted.
Cardinal Health reports Q3 revenue of $21.4 billion
DUBLIN, Ohio — Cardinal Health on Thursday reported fiscal year 2014 third-quarter revenue of $21.4 billion and non-GAAP diluted earnings per share from continuing operations of $1.01. Non-GAAP operating earnings decreased 3% to $561 million, reflecting the continuing impact of the previously announced Walgreens contract expiration.
"Our organization delivered a solid third quarter to our fiscal 2014, completing a first nine months of strong financial performance and excellent progress on our strategic initiatives," stated George Barrett, chairman and CEO of Cardinal Health. "During the recent period, we strengthened our medical preferred products program with the announcement of the acquisition of AccessClosure and enhanced our specialty solutions capabilities with the acquisition of Sonexus Health."
Revenue for the Pharmaceutical segment declined 15% to $18.8 billion, and segment profit decreased 9% to $452 million. The decline in both segment revenue and profit was the result of the impact of the expiration of the Walgreens contract. The decline in segment revenue was partially offset by sales growth from new and existing customers, and the decline in segment profit was partially offset by strong performance from generic programs.
Cardinal Health confirmed that the joint venture with CVS Caremark announced in December 2013, which will form the largest generic sourcing entity in the U.S., remains on track to be operational as soon as July 1, 2014. The U.S.-based joint venture will operate under the name Red Oak Sourcing and will be located in Foxborough, Mass.
The company announced an agreement to acquire AccessClosure, a leading manufacturer and distributor of extravascular closure devices in the U.S., expanding the Cardinal Health portfolio of preferred products that meets industry’s increasing demand for high-quality, cost-efficient solutions. And Cardinal Health enhanced its integrated services for biopharmaceutical manufacturers by acquiring privately held Sonexus Health, which offers a broad range of patient access, support and specialty commercialization services.