NBTY 3Q revenue up 22%
NEW YORK NBTY CEO Harvey Kamil’s appearance on the “Fox Business Morning C-Suite Sit-Down” is good news for the industry on a couple of levels.
First, it marks Wall Street’s rising awareness around the perfect storm brewing around supplements that’s presently sitting just off America’s shore — baby boomers hungry for reliable healthcare knowledge are finding some of what they’re looking for in dietary supplements to help maintain a healthy lifestyle; that demographic continues to age, which means the need for supplementation ought to increase as well; and the rising costs of what some have coined “sick-care,” or treating disease after the fact, have prompted many to begin seriously exploring preventative healthcare, including supplementation, as a means to not bankrupting the healthcare system within the next generation.
Of course, it doesn’t hurt that the science supporting supplementation like vitamin D and other nutrients is being vetted and publicized on a daily basis.
Second, that perfect storm is less likely to be diverted by a mountain of criticism today than say five years ago, thanks in large part to good manufacturing practices finally being put into play, the advent of serious adverse event reports and industry associations — the Council for Responsible Nutrition and the Natural Products Foundation to name two — that are aggressively seeking to steer any debate around supplements toward the sound science of today versus what many have described as possible hucksterism in the late 1990s.
Craig C. Phillips elected VP, general manager of the oncology business unit at Cephalon
FRAZER, Pa. Cephalon announced Craig C. Phillips was elected VP and general manager of the oncology business unit.
Phillips will be responsible for managing all aspects of the U.S. oncology business including sales, marketing and medical affairs.
“Since joining Cephalon two years ago, Craig has clearly demonstrated an ability to exceed expectations and bring value to our organization through his leadership,” said Robert Roche, EVP of worldwide pharmaceutical operations. “I am confident that Craig’s leadership and vision will support the dynamic growth of the Cephalon oncology business and allow us to continue to bring medicines that matter to the healthcare professionals and patients battling cancer.”
Spartan fights economy with jump in net sales
GRAND RAPIDS, Mich. Supermarket operator Spartan Stores had a $9.3 million jump in consolidated net sales during first quarter of its fiscal year 2010, the company announced in an earnings release this week.
That and a 9.4% increase in EBITDA stemmed mostly from Spartan’s acquisition of VG’s Food and Pharmacy stores, the company said. First-quarter operating earnings increased moderately, to $15.1 million compared with first quarter fiscal year 2009.
“We are pleased to report steady operating profits despite the prolonged economic challenges and the incremental costs associated with this year’s business and operational initiatives,” Spartan president and CEO Dennis Eidson said in a statement. “As anticipated, comparable store sales at our retail supermarkets declined during the quarter due to economic uncertainty, which is causing changes in consumer purchase behavior, such as a shift to lower-priced private label products, and price deflation in certain high-volume product categories.”