Toys “R” Us leader appointed to Bristol-Myers Squibb board
NEW YORK — Bristol-Myers Squibb has appointed Toys “R” Us chairman and CEO Jerry Storch to its board of directors, the drug maker said.
Storch will serve as a member of Bristol’s audit committee and the compensation and management development committee.
“We are thrilled to have a person of Jerry’s caliber, an industry leader with an excellent track record of success in branding and positioning a global franchise for growth, on our board of directors,” Bristol CEO Lamberto Andreotti said.
Kinney hires new marketing director, inventory manager
GOUVERNEUR, N.Y. — Northern New York retail pharmacy chain Kinney Drugs has hired two new people to its management team, the company said Tuesday.
Kinney announced the hiring of Jennifer Whalen as director of marketing and Steve Harris in the new position of inventory and replenishment manager. Both will work out of the chain’s Syracuse, N.Y., office.
"We are extremely delighted to welcome Jennifer and Steve to our team," Kinney president and COO Bridget-ann Hart said. "The extensive experience that each brings will be a valuable asset to Kinney Drugs as we continue to expand our capabilities and build our retail pharmacy business."
Whalen will be responsible for Kinney’s marketing strategies, including developing advertising, promotional programs and customer relationship marketing. She previously worked at Empire Vision Centers, KeyCorp and Morrisville State College Auxiliary Corp.
Harris will be responsible for implementing supply chain software and developing an advanced replenishment and inventory-control structure. He previously worked with Family Dollar, Brooks-Eckerd Pharmacy and Eckerd.
Watson acquires Ascent Pharmahealth
PARSIPPANY, N.J. — Watson Pharmaceuticals has acquired the Australia and Southeast Asia generic pharmaceutical business of Strides Arcolab for $392.4 million in cash.
The generic drug maker said its acquisition of Ascent Pharmahealth — whose portfolio includes generics, brands, branded-generic and over-the-counter and dermatology and skin care products — positions Watson as the fifth-largest generic pharmaceutical company in Australia, as well as the the largest generics company in Singapore, and gains an established commercial base in Malaysia, Hong Kong, Vietnam and Thailand.
Watson currently operates in the Australian marketplace through its Spirit Pharmaceuticals subsidiary.
"We are committed to expanding our international commercial operations into geographies where we can capitalize on our existing assets and participate in growing and emerging markets," Watson president and CEO Paul Bisaro said. "This acquisition complements our existing generic development and marketing capabilities in the important Australia market, and catapults us to a top five position that would have taken considerable time and investment to build organically. It also provides us with a leadership position in Southeast Asia, a region with more than 600 million consumers and overall annual generic sales of approximately $4.2 billion a year, which is projected to grow at more than 8% annually.
"The acquisition of Ascent provides Watson with a successful commercial structure in both Australia and Southeast Asia; we will retain the proven sales and marketing teams that have driven Ascent’s growth; we will have a larger portfolio of products, and gain a broader pipeline of products to support continued growth," Bisaro added. "We anticipate a seamless and rapid integration of the Ascent businesses."