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Cardinal Health, McKesson renew pharmaceutical distribution agreements with CVS Caremark

BY Antoinette Alexander

DUBLIN, Ohio — Cardinal Health and McKesson separately announced the renewal of their pharmaceutical distribution agreements with CVS Caremark.

Under Cardinal Health’s renewed agreement, the wholesaler stated that it will supply pharmaceuticals to a network of CVS Caremark’s retail pharmacies and distribution centers through mid-2016. The stores and distribution centers serviced under the new arrangement are essentially the same as those serviced in the prior arrangement.

"CVS Caremark has been a long and valued partner to Cardinal Health. We are excited to continue to build on that tradition. We look forward to working together to create value for our evolving heathcare system," stated George Barrett, chairman and CEO of Cardinal Health.

Meanwhile, McKesson, which generally serves the PBM side of the business, also has announced the renewal of its current distribution agreement with CVS Caremark.

“We are extremely pleased to continue our long standing relationship with CVS Caremark,” stated Paul Julian, EVP and group president of McKesson.  “McKesson’s comprehensive supply chain solutions continue to help CVS Caremark ensure the highest levels of product availability and product integrity, empowering CVS Caremark to provide outstanding pharmaceutical care to its customers.”

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New product launches help fuel Colgate’s U.S. sales, market share in Q1

BY Antoinette Alexander

NEW YORK — Colgate announced on Thursday that North American net sales rose 5.5% as new product launches, such as Colgate Optic White mouthwash, helped drive volume growth and market share gains in the United States.

North America, which accounts for 18% of company sales, posted a net sales increase of 5.5%. Organic sales also rose 5.5% during the quarter.

In the U.S., market share gains were seen in manual toothbrush, powered toothbrushes, mouthwash, body washes and fabric conditioners. In toothpaste, the company noted the success of Colgate Optic White and Colgate Optic White Dual Action toothpastes, which helped drive market share for the Optic White brand to 5.7% year to date, up 1.3 share points versus a year ago.

In manual toothbrushes, Colgate’s market share reached a record 37.1% year to date, up 0.3 share points versus a year ago, driven by the success of Colgate 360 Optic White, Colgate 360 Total Advanced Floss Tip bristles and Colgate Extra Clean manual toothbrushes, the company stated.

New product launches for the second quarter 2013 include Colgate Advanced Pro-Shield mouthwash, which is an addition to the Colgate Total oral care regimen. The launch will be supported by an integrated marketing campaign featuring television personality Kelly Ripa as the new spokesperson for the Colgate Total brand.

On a global basis, the company posted net sales of $4.32 billion, up 2.5% compared with the year-ago period. Organic sales grew 6%.

Net income and diluted earnings per share in the quarter were $593 million and $1.23, respectively. Excluding certain items, net income in the quarter totaled $626 million, an increase of 4% compared with the year-ago period, and diluted earnings per share were $1.32, an increase of 6%.

“Colgate’s global market share in toothbrushes and manual toothbrushes are both at record highs year to date. Colgate’s share of the global toothpaste market strengthened to 45.6% year to date, up 0.1 share points versus year ago. Our global leadership in manual toothbrushes also strengthened during the quarter with Colgate’s global market share in that category reaching 33.4% year to date, up 0.4 share points versus year ago,” said Ian Cook, chairman, president and CEO.

 

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Greenstone launches authorized generic painkiller

BY Alaric DeArment

PEAPACK, N.J. — Greenstone has launched an authorized generic painkiller, the company said.

Greenstone, the generics arm of Pfizer, announced the introduction of authorized generic oxaprozin caplets in the 600 mg strength. The drug is a version of Pfizer’s Daypro, a non-steroidal anti-inflammatory drug, or NSAID.

Authorized generics are branded drugs sold under their generic names at a reduced price.

 

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