P&G punches up Prilosec OTC offering with wildberry flavoring
NEW YORK — Procter & Gamble this week will begin shipping a wildberry-flavored Prilosec OTC.
The proton-pump inhibitor will not come in a chewable form, however, and will feature the message "Swallow — Do Not Chew" prominently on its packaging.
"New Prilosec OTC Wildberry is the first innovation in the over the counter 24-hour frequent heartburn pill category in a decade," Prilosec OTC brand manager Phil McWaters said. "It offers frequent heartburn sufferers a new ‘sensory experience’ in their daily routine along with relief from frequent heartburn."
McNeil Consumer was the first to introduce flavored, nonchewable tablets in September 2003 with the launch of Tylenol Sinus Severe Congestion with Cool Burst and in April 2004 with adult extra-strength Tylenol Cool caplets, though neither SKU is on shelf today.
Meanwhile, Boehringer Ingelheim was the first to bring flavor to heartburn-busting tablets with Zantac 150 Cool Mint tablets in fall 2007.
CalNaturale offers Svelte in smaller size
LATHROP, Calif. — CalNaturale announced a new size for its Svelte on-the-go protein shake.
The new 11.2-oz. size of the nondairy, gluten-free beverage initially is available in three flavors — chocolate, french vanilla and cappuccino — and mirrors its 15.9-oz. counterpart in design and availability in recyclable Tetra-Pak containers. The 11-oz. Svelte has 180 calories while still delivering 5 g of fiber, 11 g of protein from a fresh, organic soymilk base, and only 6g of sugar.
"While our consumers love the delicious taste and exceptional nutritional benefits of Svelte, a growing number of consumers were seeking organic alternatives as well as options that deliver fewer calories—which was the driving force in our decision to offer Svelte in this smaller size," CalNaturale founder and president Pat Mitchell said. "Health-minded individuals now have an opportunity to enjoy Svelte as a more convenient, reduced size that is also certified organic, perfect for in-between meals and while on the go."
Svelte is available at select natural food stores, grocers and drug stores nationwide. The new 11-oz. and the 15.9-oz. containers have suggested prices of $2.29 and $2.99, respectively.
CVS Caremark announces new share repurchase program, quarterly dividend
WOONSOCKET, R.I. — CVS Caremark announced that its board of directors has approved a new share repurchase program for up to $6 billion of the company’s outstanding common stock.
The share repurchase authorization, which is effective immediately, permits the company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions.
The company also stated that this new share repurchase program is expected to be completed over a multiyear period. CVS Caremark intends to provide 2013 guidance and to outline its capital allocation strategy during its upcoming Analyst Day, to be held on Dec. 13. At that time, the company will provide its assumption for the amount of share repurchases expected to be completed during 2013.
"We’re very pleased with the board’s decision to approve this new share repurchase program and believe it reflects their confidence in CVS Caremark’s growth outlook as well as an ongoing commitment to create shareholder value. We have a highly disciplined approach to capital allocation and we are committed to using our strong free cash flow to fund investments that drive returns in addition to dividends and value-enhancing share repurchases,” stated Dave Denton, EVP and CFO of CVS Caremark.
CVS Caremark also announced that its board has approved a quarterly dividend of 16.25 cents per share on the common stock of the corporation, payable Nov. 2 to holders of record on Oct. 22.