Mylan launches generic Micardis tablets
PITTSBURGH — Mylan announced the launch of telmisartan tablets USP in 20-mg, 40-mg and 80-mg dosage strengths. The drug is the generic version of Micardis tablets from Boehringer Ingelheim and is used to treat hypertension.
Telmisartan tablets had sales in the United States of $259.2 million for the 12 months ending March 31, 2014, according to data from IMS Health.
Sears, Kmart introduce cross-format free store pickup service
HOFFMAN ESTATES, Ill. — Sears Holdings announced on Tuesday that its Sears and Kmart stores are introducing an online/in-store collaboration to allow pick up of Sears.com or Kmart.com orders at any of each other’s stores — more than 2,000 locations nationwide — in five minutes or less.
“Sears was the first broadline retailer to provide the convenience of free buy online pick up in store more than 12 years ago, and we continue to introduce integrated offerings to help our members shop on their own terms,” stated Imran Jooma, EVP, Sears Holdings. “Leveraging the breadth of both Sears and Kmart’s online and in-store networks means more convenience for members and opens an even wider brand-name product selection available to fans of both stores.”
Sears and Kmart stated that its customers are increasingly taking advantage of integrated shopping experiences — 60% of online sales are multichannel transactions and last quarter, online and multichannel sales increased 26% over the prior year.
Sears and Kmart are rolling out the expanded service well before back-to-school season, when customers may need particular items from Sears or Kmart, but only have one of those physical stores close to their homes. For example, a member may want to purchase school supplies from Kmart, and a Sears store is much closer to their home than the nearest Kmart. Now that member can buy online at kmart.com and pick up at a Sears store. Similarly, a member may need a particular Craftsman power tool from Sears. The member can order the tool online at sears.com and pick it up for free at any nearby Kmart store.
“We’re excited to build on the success of this popular, convenient Free Store Pickup option with 2,000 Sears and Kmart stores, regardless of whether you order from Sears.com or Kmart.com, and have it ready for pickup in five minutes or less,” stated Leena Munjal, SVP, Sears Holdings. “The service also makes exclusive brands — like Sofia by Sofia Vergara and Adam Levine at Kmart, and Bongo and Outdoor Life at Sears — available for free pickup at hundreds of new locations.”
Canada’s Jean Coutu Group sees 0.1% lift in Q1 same-store sales
LONGUEUIL, Quebec — Facing a “highly competitive market,” Canadian pharmacy retailer the Jean Coutu Group reported on Tuesday a slight increase in first-quarter revenues and a 0.1% lift in same-store sales.
“The results of the first quarter of fiscal 2015 demonstrate the effectiveness of our business plan in spite of a highly competitive market,” stated Francois Coutu, president and CEO. “The commercial strategies that we continue to roll out, the expansion of our network and the commitment of our affiliated pharmacist owners and their employees will contribute to our growth in the upcoming quarters as well as to maintain our leadership.”
Revenues, which consist mainly of sales and other revenues derived from franchising activities, totaled Canadian $688.6 million during the quarter ended May 31, compared with C$681.6 million in the year-ago period. According to the company, driving the increase is overall market growth and the expansion of the PJC network of franchised stores despite the deflationary impact on revenues of the volume increase in prescription of generic drugs compared with brand name drugs as well as the price reductions of generic drugs.
On a same-store basis, the PC network’s retail sales increased by 0.1%, pharmacy sales increased 0.3%, and front-end sales decreased by 0.5%.
Net profit totaled C$54.1 million, or 29 Canadian cents per share, during the quarter compared with C$108.6 million, or 51 Canadian cents per share, in the year-ago period. The company stated that the decrease in net profit is attributable to the gain of C$54.4 million related to the investment in Rite Aid recognized during the first quarter of fiscal year 2014.
Net profit before gains related to the investment in Rite Aid amounted to C$54.1 million, or 29 Canadian cents per share, compared with C$54.2 million, or 26 Canadian cents per share, in the year-ago period.
During Tuesday morning’s conference call with analysts, Coutu noted that the company launched several promotions during the quarter, including the introduction of a new exclusive line of beauty products called Jouviance Makeup for sensitive skin.
Coutu also told analysts that it is “very active” on the acquisition front. “We have four projects that are being, at this time, negotiated and two of these we have reached an agreement. And there are more than 12 projects that we are studying now,” Coutu told analysts.