Pfizer subsidiary to market authorized generics
PEAPACK, N.J. —The generics subsidiary of Pfizer is launching a new business focused on authorized generics. Greenstone announced the launch of the Authorized Generics Alliance, which it said would combine its business model and 17 years of experience in the generics market with the expertise of other drug makers to market authorized generics in the United States under the Greenstone label.
“Greenstone is one of the longest-running and most respected marketers of innovator-authorized generics in the United States,” Greenstone general manager Michael Sweitzer said. “As part of Pfizer, Greenstone has the backing of the company’s 161-year expertise in innovation, integrity, quality and supply reliability.”
Unlike generic drugs, which are approved under an abbreviated regulatory approval process by the Food and Drug Administration after the branded drug company’s market exclusivity has expired and compete with their branded counterparts, authorized generics are branded drugs sold under their generic names with permission from the branded drug maker, often through third-party companies.
Giant Eagle awarded for green efforts
PITTSBURGH Giant Eagle has received four awards from the Environmental Protection Agency for its eco-friendly practices and sustainability efforts, the supermarket retailer said.
Giant Eagle was the recipient of the EPA Montreal Protocol award, the GreenChill environmental award, the GreenChill building certification and the EPA Smartway transport partnership perfect performance score.
“Our multiple partnerships with the EPA are a significant piece of our overall sustainability strategy, which also includes our energy management efforts and recycling initiatives,” said Shelly Sponholz, Giant Eagle SVP real estate and development. “We truly believe that our environmental commitment is a vital part to the success of both our communities and our business, as so many of the sustainable projects we undertake produce tangible benefits to each.”
Giant Eagle operates stores throughout western Pennsylvania, Ohio, north central West Virginia and Maryland.
Retailers urge Congress to reject Chinese currency legislation
ARLINGTON, Va. As members of Congress move to try and force China to revalue its currency, the renminbi yuan, retailers are weighing in on the issue.
The Retail Industry Leaders Association, which represents more than 200 retailers, manufacturers and suppliers, asked lawmakers Friday to reject legislation under consideration Friday morning by the House Ways and Means Committee that would pressure China on its currency by imposing tariffs on products imported from there.
Alarge share of consumer products sold in the United States are made in China, and in many cases are no longer made in the United States. Thus, placing tariffs on goods imported from China could force retailers to pass the costs onto consumers.
“Provoking tension with our trading partners doesn’t come without costs, and we should choose our battles carefully, especially given the great amount of uncertainty in markets at this time,” RILA VP international trade Stephanie Lester said. “It makes little sense to enact harmful policies that will spark a bilateral conflict over currency with one of our largest trading partners and fastest-growing markets for American exports, given almost stagnant economic growth.”