Valeant completes buyout of Coria Laboratories for $95 million
ALISO VIEJO, Calif. Valeant Pharmaceuticals International announced Thursday that it acquired Coria Laboratories, a drug company that focuses on skin medications.
Under the terms of the agreement, Valeant purchased all outstanding shares of Coria from parent company DFB Pharmaceuticals and other shareholders for $95 million.
P&G Femcare brands team with charitable organizations to benefit women and girls
CINCINNATI Procter & Gamble Femcare brands Tampax and Always have expanded the Protecting Futures program with new partners Save the Children and Care.
“We are thrilled to partner with two leading charitable organizations to help generate further change for an important cause championed by Tampax and Always,” Michelle Vaeth, Protecting Futures program director for P&G said. “Together with Save the Children and Care, the Protecting Futures program will continue to expand its reach, making a positive impact in the lives of young girls in sub-Saharan Africa by helping them reach their full potential in school.”
Save the Children is an independent organization that works to ensure the wellbeing and protection of children in more than 100 countries. Care is a humanitarian organization fighting global poverty.
Protecting Futures is dedicated to helping vulnerable girls stay in school and realize their full potential through continued education. This program also works to raise awareness of the lack of access to sanitary protection and sanitary facilities for girls in sub-Saharan Africa. Over the next four years, the program aims to reach one million girls through puberty education and the installation of 500 sanitary facilities with an overall commitment of up to $15 million from P&G brands Tampax and Always and their partners.
According to research, 1-in-10 school-age African girls do not attend school during menstruation or drop out at puberty because of the lack of clean and private sanitation facilities in schools.
Since launching last November, the program has provided and improved access to education by building and outfitting classrooms, dormitories, kitchens and toilets at multiple school sites in sub-Saharan Africa. The program was originally born out of a pilot program Always launched in Kenya three years ago through a partnership with the Girl Child Network and is a part of P&G corporate cause, Live, Learn and Thrive, which has already helped more than 50 million children in need.
P&G CEO gives shareholders his word company business is strong
CINCINNATI Procter & Gamble chairman and chief executive officer A.G. Lafley reassured uneasy shareholders at its annual shareholder meeting on Oct. 14 that the company’s business was steady.
“While the economic environment remains volatile and uncertain, I am confident that P&G can and will continue to prosper over the long term,” Lafley said.
According to published reports, Lafley cited P&G’s record of years of steady earnings and sales growth, and explained that P&G has been boosting productivity, controlling costs and adding innovations to its broad product portfolio. The portfolio includes 24 brands with annual sales of $1 billion or more and 20 others with sales between $500 million and $1 billion.
They are brands that, according to Lafley, “are built to growth through any economic cycle.”
Echoing that sentiment, Morgan Stanley analyst William Pecoriello stated earlier in October in a research note, “Our recent meeting with management confirms our view that P&G should remain a safe haven during the key macro uncertainties ahead.”
P&G is scheduled to release quarterly earnings on Oct. 29.