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3M acquires J.R. Phoenix

BY Allison Cerra

ST. PAUL, Minn. 3M has acquired a hand hygiene and skin care products manufacturer, the company announced Friday.

3M would not disclose terms of its deal for J.R. Phoenix, a developer of soaps, hand cleansers, moisturizing and protecting creams, antimicrobial soaps and sanitizing gels, shampoo and body wash.

J.R. Pheonix’s hand hygiene products are sold under the Laura Line brand.

“The Laura Line brand products complement and build on our 3M brand hand sanitizers and skin creams product line,” said Debra Rectenwald, president and general manager, 3M infection prevention division.

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BioScrip to present at two upcoming conferences

BY Alaric DeArment

ELMSFORD, N.Y. Specialty pharmacy company BioScrip will present at two conferences next month, BioScrip said Wednesday.

On June 7, chairman and CEO Richard Friedman and CFO and EVP Stanley Rosenbaum will present at the Noble Financial Sixth Annual Equity Conference at the Hard Rock Hotel in Hollywood, Fla. The next day, Friedman, Rosenbaum and president and COO Richard Smith will present at the Jefferies 2010 Global Life Sciences Conference at the Grand Hyatt in New York.

A live audio Webcast of the Florida event will be available at www.ontrack10.com and www.nobleresearch.com, while one of the New York event will be at www.wsw.com/webcast/jeff46/bios. Replays of the presentations will be available through BioScrip’s Web site, at www.bioscrip.com.

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Costco’s profit soars in Q3

BY Allison Cerra

Wholesaler Costco saw a surge in its third-quarter profit, the retailer reported Thursday.

Net income in the quarter ended May 9 rose to $306 million, up nearly 46% from $210 million in the year-earlier third quarter. Sales rose 12% to $17.39 billion. Same-store sales rose 4%.

Costco said its dramatic profit increase was attributed to continued overseas demand from Canada to Taiwan and by better sales of nonessential products such as apparel and home furnishings.

At the end of the quarter, Costco ran 568 warehouse clubs, with locations in the United States; Canada; Mexico; the United Kingdom; Korea; Taiwan; Japan and Australia. The company said it plans to open five more locations by Aug. 29, the end of its fiscal year.

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