Pfizer ends brain cancer drug development deal with Celldex
NEEDHAM, Mass. Pfizer is pulling out of a development deal for a potential brain cancer drug, saying it is not a strategic priority, according to the drug’s developer Celldex Therapeutics.
Celldex said it will regain full worldwide rights to develop and sell rindopepimut from Pfizer. The drug candidate also is called CDX-110. In May, the company reported positive results form a midstage study on the drug.
Celldex will regain rights to the drug candidate on Nov. 1.
Dollar channel gets lucrative
WHAT IT MEANS AND WHY IT’S IMPORTANT Retailers operating outside of the dollar channel are beginning to experience some night terrors. Because the fear is, what if American consumers learn from this bargain-hunting experience once the economy recovers? What if they decide quality and convenience in a dollar store today is comparable with other channels, and that the only real point of difference is the price point? Sure, there are some analysts who feel that once American shoppers are carrying a few more discretionary dollars in their pockets, they’ll go back to their previous shopping habits. But what if they don’t?
(THE NEWS: Getting it done at Dollar General. For the full story, click here)
“Some investors expect shoppers to move away from [the dollar] channel when the economy improves,” commented Barclays Capital analyst Meredith Adler in a recent dollar-channel research note. “We believe, however, that the strong small-box discounters will retain a large percentage of their consumers, as the recession has, in some cases, newly introduced these concepts to consumers.”
There probably are a few drug-channel veterans at Dollar General that would concur with Adler, and it seems they may be striking while the iron is hot. Just last month, Dollar General began test marketing an expanded product offering by adding beer and wine to its mix across Florida, South Carolina and Tennessee. Over time, Dollar General expects to offer beer and/or wine in about half of its 9,000 stores nationwide, the company stated.
If successful, exploiting such merchandising opportunities could continue to transform the dollar channel from the treasure-hunting opportunity it was in the past to the value-conscious destination center it’s fast becoming today. And that’s when the real nightmares begin for competing mass merchants.
P&G’s expansion of Future Friendly is a win-win for company, consumers
WHAT IT MEANS AND WHY IT’S IMPORTANT The announcement by P&G that it is looking to further expand its Future Friendly platform in 2011 to now target a reduction in packaging materials, as well as truck and fuel usage, is important on several different levels. Not only does the next phase of the program further solidify P&G’s lead role as a consumer packaged goods company that is making a significant impact to better the environment, but, at the retailer level, P&G is expecting to see a boost in powder detergent sales.
(THE NEWS: P&G’s Future Friendly tackles imminent opportunities. For the full story, click here)
Setting aside the environmental benefits for a moment, these efforts will resonate with many mainstream consumers who, judging by the research, are clearly interested in making a difference in the environment but may not understand how they can make that difference. Furthermore, those consumers are not willing to pay more for products or sacrifice product performance to promote those environmental benefits.
Underlining this notion is a January 2010 national consumer conservation study conducted by Ipsos Public Affairs on behalf of P&G’s Future Friendly, which found, among other things, that a lack of information about what to do is the greatest barrier to consumers leading a more environmentally friendly lifestyle.
The beauty of Future Friendly is that these are products they already know and trust, and probably already are buying.
In the case of powder detergent, for example, consumers buying those powder cartons with a Future Friendly label will be contributing to a reduction of cardboard packaging, fewer trucks on the road and less diesel fuel being used. Once this message resonates with consumers — and thanks to the aggressive marketing efforts by P&G and the in-store tools it will arm retailers with, that message should resonate loud and clear — retailers and Mother Nature will reap the rewards. Clearly, it is a win-win situation.