Fresenius Kabi launches Velcade alternative
Fresenius Kabi has introduced its alternative of Takeda Oncology’s Velcade (bortezomib for injection). The Lake Zurich, Ill.-based company said that this addition to its oncology offerings is the first available alternative for intravenous use.
Fresenius Kabi’s product is available in a single-dose vial that contains 3.5 mg of lyophilized powder.
“Fresenius Kabi bortezomib is a cost efficient product alternative for our customers and the patients they treat,” Fresenius Kabi USA president and CEO John Ducker said. “We are proud to offer an expansive oncology portfolio and will continue to develop these essential medicines.”
According to Takeda’s quarterly filings, Velcade has had U.S. sales of $60.2 million for the first two quarters of its fiscal year 2017. For the full fiscal year 2016, Takeda reported $112.9 million in U.S. sales for Velcade.
Sam’s Club’s Turner-Mitchael to retire
Sam’s Club senior vice president and GMM of consumable and health and wellness will be retiring at the end of the fiscal year, a Sam’s Club spokesperson confirmed Wednesday. Turner-Mitchael is a 26-year veteran of the company, having joined Walmart in 1992 as a pharmacist in Lubbock, Texas.
During her time at the company, Turner-Mitchael has led various teams at Walmart and Sam’s Club, including Walmart’s pharmacy operations team and Sam’s Club’s merchandising, operations and health and wellness divisions. She has received the Sam M. Walton Blue Coat Award of Excellence.
“Jill leaves a lasting legacy, both as a merchant and as a disruptor in the health care industry,” the company said. “Her passion in raising awareness of health and wellness issues and in testing exciting new concepts in clubs such as free screenings, health kiosks and caregiver support programs has helped the company to become a leader in affordable health care. Jill has also made a strong impact on associates throughout the company with her mentorship and focus on championing women’s advancement in the workplace.”
The company said it has not yet named Turner-Mitchael’s successor and will do so once it has been announced internally.
Supervalu’s Q3 shows results of acquisitions on wholesale business
Grocery retailer and wholesaler Supervalu has shared the results from its fiscal 2018 third-quarter, which included a boon to its wholesale business in the form of its Unified Grocers acquisition, even as retail sales declined. The Minneapolis-based company’s total continuing operations saw net sales of $3.94 billion — up 31% from $3 billion in the same period last year.
Supervalu’s retail division netted $1.02 billion in sales, down 4.1% from last year’s $1.06 billion, which the company attributed to a 3.5% dip in same-store sales and store closings, offset by new and acquired store sales. The company’s retail operating loss was $6 million for the quarter, a number that included $3 million in costs related to store closures. Supervalu’s third-quarter operating loss was well below the loss it posted in the same period last year, when it reported $14 million.
The impact of retail losses on Supervalu’s bottom line was buoyed somewhat by its wholesale division’s performance. The wholesale business posted $2.89 billion in net sales, an increase of 52% over the prior period, which the company said was driven by the Unified Grocers acquisition, as well as new customer sales and increased sales to existing customers. Operating earnings were down slightly from last year, coming in at $48 million after being adjusted for $2 million of merger and integration costs. In the prior third quarter, Supervalu’s wholesale division brought in $52 million in operating earnings.
“With the influx of significant new business in certain distribution centers, we experienced a larger-than-anticipated increase in expenses, but we're encouraged by the work we are doing to address those costs and believe they are manageable going forward,” Supervalu president and CEO Mark Gross said. “We remain committed to investing in our wholesale business to drive future growth.”
On the corporate side, Supervalu saw fees earned of $33 billion from services agreements, and its new corporate operating loss was $1 million — which included $3 million of merger and integration cost. This is compared with net corporate operating earnings of $4 million last year.
With the Unified Grocers acquisition completed in Q3, the company set its sights on its Associated Grocers acquisition, closing it early in its fourth quarter.
“We're pleased to have completed our acquisition of AG Florida early in the fourth quarter,” Gross said. “The work done in the third quarter concluded with this deal which, combined with the acquisition of Unified Grocers earlier this fiscal year, demonstrates our commitment to the strategic growth of our Wholesale business. Furthermore, we're extremely pleased with the integration work at Unified and the progress made in that market.”