Chelsea seeks approval for neurogenic orthostatic hypotension drug
CHARLOTTE, N.C. — Chelsea Therapeutics International has applied for Food and Drug Administration approval of a drug for a disorder that affects patients with diseases like Parkinson’s disease.
The drug maker announced the submission of a new drug application for Northera (droxidopa) as a treatment for neurogenic orthostatic hypotension. NOH predominantly affects people with primary autonomic failure, a group of diseases that includes Parkinson’s, multiple system atrophy and pure autonomic failure.
Chelsea expects the FDA to decide whether or not to grant approval in first quarter 2012, the company said.
NRF: Treat will beat trick this Halloween
WASHINGTON — Retailers shouldn’t be fearful of Halloween, as more consumers are expected to celebrate the holiday this year, the National Retail Federation said.
According to NRF’s 2011 Halloween Consumer Intentions and Actions Survey conducted by BIGresearch, 7-in-10 Americans (68.6%) plan to celebrate Halloween, up from 63.8% last year and the most in NRF’s 10-year survey history. Additionally, the average consumer will shell out $72.31 on decorations, costumes and candy, up from $66.28 last year. Total Halloween spending is expected to reach $6.86 billion.
“Eager to shake off the summer heat and forget about the economy for a few days, Americans are looking forward to having some fun this Halloween,” NRF president and CEO Matthew Shay said. “Many retailers have already stocked their shelves with Halloween merchandise and, given the popularity of the holiday this year, consumers should not hesitate when they find something that would make their celebration complete.”
Family Dollar to open 450 to 500 stores in new fiscal year; Q4 profit up 8%
MATTHEWS, N.C. — Family Dollar announced Wednesday that it plans to open 450 to 500 new stores in fiscal 2012, a 50% jump compared with the number of openings in fiscal 2011, and will renovate, relocate or expand more than 1,000 locations.
The discounter also reported that its fiscal fourth-quarter net income rose 8%.
“In fiscal 2012, we intend to accelerate investments to drive sales and profitability,” Family Dollar chairman and CEO Howard Levine said.
Family Dollar, which rejected a $7 billion takeover bid by Nelson Peltz’s Trian Fund Management LP in March, earned $79.8 million for the period ended Aug. 27, up from $74 million in the year-ago period.
Revenue rose 9% to $2.13 billion from $1.96 billion, helped by sales of consumables, seasonal items and electronics. Same-store sales rose 5.5%.
The chain exceeded Wall Street estimates, both in sales and profit.
On Tuesday, it was announced that CVS/pharmacy executive Mike Bloom would join the company as president and COO of the company.