Corn Flakes to debut limited-edition boxes featuring Olympic gold medalist
BATTLE CREEK, Mich. — Kellogg’s announced that it is rolling out special-edition boxes of Corn Flakes featuring U.S. gymnast Gabby Douglas, who won the gold medal at the 2012 Olympic Games in London.
"We are proud to support the potential of our young athletes and our amazing team of U.S. gymnasts," Kellogg’s SVP morning foods Doug VanDeVelde said. "Over the course of the past week, we have all shared in the thrilling moments and passion of USA Gymnastics, and we are excited to bring that into the homes of families across the country."
Kellogg’s, an official sponsor of the United States Olympic Committee and USA Gymnastics, said the limited-edition boxes will hit retail shelves this fall.
"I’m so proud to be part of this gold-medal winning team and I’m thrilled I was able to bring home the all-around gold for Team USA as well," Douglas said. "The support from fans around the country has been amazing, and it’s a huge honor to see ourselves on a cereal box that our fans can all own and enjoy."
P&G posts Q4 results
CINCINNATI — Procter & Gamble announced on Friday that fourth-quarter earnings rose nearly 45%, due to gains from the sale of its snacks business, as sales slipped 1%.
Net sales for the April to June quarter totaled $20.2 billion, a decrease of 1%. Organic sales rose 3% due to price increases, partially offset by geographic mix.
For the quarter, P&G posted a profit of $3.63 billion, or $1.24 a share, up from $2.51 billion, or 84 cents, in the year-ago period. Excluding such items as restructuring costs and gains from selling the snacks business, core earnings were 82 cents a share, consistent with the prior year and 3 cents per share above the top end of the company’s guidance range. P&G completed the sale of its snacks business in the quarter, which resulted in a net gain of 48 cents per share.
In beauty care, net sales dropped 4% to $4.8 billion, as organic sales grew 1%. Price increases added 4% to net sales growth. Net earnings were in line with the prior-year period at $382 million as net earnings margin expansion offset the impact of reduced net sales.
In grooming, net sales decreased 6% to $2 billion, with price increases adding 1% to net sales. Grooming net earnings were in line with the prior year at $406 million as an expansion in operating margin was offset by the decrease in net sales.
Mylan, Gilead sign HIV/AIDS drug deal
PITTSBURGH — Mylan and Gilead Sciences have made an agreement under which Mylan will have rights to produce and market generic versions of Gilead drugs for HIV and AIDS in developing countries.
The agreement, involving Gilead and Mylan subsidiary Mylan Labs Ltd., centers around drugs containing emtricitabine, the active ingredient in such drugs as Emtriva, and such fixed-dose combinations as Truvada (emtricitabine and tenofovir disoproxil fumarate) and the experimental Quad.
"Access to affordable medicine continues to be an acute need in tackling HIV/AIDS and once again we are delighted to be collaborating with Gilead in these efforts," Mylan CEO Heather Bresch said. "Mylan is focused on expanding access to high-quality treatments to those in need around the world. Partnerships like this one ensure that patients in developing markets have access to important, recommended treatment options, like those containing emtricitabine."