Rite Aid’s August same-store sales drop
CAMP HILL, Pa. Rite Aid posted a same-store sales decline of 1% for the five weeks ended Aug. 28, the pharmacy retailer announced Thursday. August front-end same-store sales decreased 0.9%, while pharmacy same-store sales, which included an approximate 225 basis point negative impact from new generic introductions, declined 1%. Prescriptions filled at comparable stores decreased 1.2% over the prior-year period.
Total drug store sales for the five-week period decreased 2.2% to $2.3 billion. Prescription revenue accounted for 68.5% of drug store sales, and third-party prescription revenue represented 96.2% of pharmacy sales.
Meanwhile, same-store sales for the 13-week quarter ended Aug. 28 decreased 1.5% over the prior-year period. Front-end same-store sales were down 0.9%, while same-store pharmacy sales decreased 1.8%. Prescriptions filled at comparable stores decreased 2.1% over the prior-year period.
Total drug store sales for the 13-week second quarter decreased 2.5% to $6.1 billion. Prescription revenue represented 68.1% of total drug store sales, and third-party prescription revenue was 96.1% of pharmacy sales.
Allergan’s elevated intraocular pressure treatment gets nod from FDA
IRVINE, Calif. Allergan’s optimized reformulation of Lumigan has received approval from the Food and Drug Administration, the drug maker said Wednesday.
Lumigan 0.01% (bimatoprost ophthalmic solution) is a first-line therapy indicated for the reduction of elevated intraocular pressure with open-angle glaucoma or ocular hypertension, Allergan said. Lumigan 0.01% will be available in fourth quarter 2010 as the newest addition to Allergan’s comprehensive glaucoma portfolio.
"Lumigan 0.01% exemplifies Allergan’s commitment to developing medications for glaucoma patients that maximize efficacy while minimizing drug exposure,” said Scott Whitcup, Allergan’s EVP research and development and chief scientific officer.
Lilly’s Evista patents upheld in appeals court ruling
INDIANAPOLIS Eli Lilly’s method-of-use patents for its osteoporosis drug were declared valid by a federal court of appeals.
The drug maker said the Court of Appeals for the Federal Circuit has affirmed a prior ruling by the U.S. District Court for the Southern District of Indiana that the company’s patents for Evista (raloxifene HCl tablets) are valid.
“Protection of intellectual property rights is extremely important to the biopharmaceutical industry and the patients we serve. We will continue to vigorously defend our rights, in order to support the development of the next generation of innovative medicines,” said Robert Armitage, SVP and general counsel for Lilly.