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FDA approves Hospira cancer drug

BY Alaric DeArment

LAKE FOREST, Ill. — The Food and Drug Administration has approved a generic chemotherapy drug made by Hospira, the drug maker said.

Hospira announced the approval of gemcitabine injection in the 200-mg, 1-g and 2-g formulations and plans to launch the drug in September. The drug is a generic version of Eli Lilly’s Gemzar.

Various versions of the drug had sales of $750 million in 2010, according to Hospira.

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Pelletier named board chairman at Together Rx Access

BY Allison Cerra

ALEXANDRIA, Va. — Prescription savings program Together Rx Access announced that it has appointed a Pfizer executive to serve as its board of managers chairman.

In his role, Gary Pelletier will help Together Rx Access with its mission to provide Americans with improved access to medicines. Prior to becoming chairman, Pelletier served as vice chairman of the board. At Pfizer, he serves as director and team leader of Pfizer Helpful Answers, a group of programs created by the drug maker that helps underinsured and uninsured patients get access to Pfizer medicines for free or at discount.

"In his role at Pfizer, Gary has been a champion of programs that provide better access to medicines," Together Rx Access executive director Roba Whiteley said. "His leadership and vision will guide our continuing commitment to helping uninsured Americans access the prescription medicines they need to stay healthy and treat chronic conditions — which is the best way to manage overall healthcare costs."

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teridixon says:
Aug-10-2011 06:47 am

Currently, the cost of health care is rising at a much higher rate than inflation. Even if we were to implement your beloved single payer, at a certain point we can not afford to pay for every new treatment and technology that comes along if we want to have any semblance of an economy. If you dont have insurance you should check out Penny Health for information on how to get one.

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99 Cents Only reports slight income growth

BY Gail Hoffer

CITY OF COMMERCE, Calif. — 99 Cents Only Stores reported that its consolidated net income for the first quarter of fiscal 2012 was $17.7 million, or 25 cents per diluted share, compared with $16.8 million, or 24 cents per diluted share, for the prior year.

Eric Schiffer, CEO of 99 Cents Only Stores, stated, "We are pleased with our financial results for the first quarter of fiscal 2012. Our long-term operational improvement initiatives have continued to meet our expectations, resulting in earnings per share of 25 cents for the first quarter of fiscal 2012."

The company reported net sales for the quarter of $368.3 million, a 6.3% increase compared with net sales of $346.5 million for the first quarter of fiscal 2011. Retail sales for the company’s consolidated operations increased by 6.2% to $357.5 million. Same-store sales calculated on a comparable 13-week period, increased 5.9%. A favorable Easter selling season timing shift positively affected same-store sales in the first quarter of this year, the company reported.

For fiscal 2012, the 99 Cents Only said it expects positive same-store sales in the low single digits and plans to open 16 stores. Of these 16 stores, two stores will be opened in the first half of fiscal 2012 and the remaining fourteen stores in the second half of fiscal 2012. The majority of these new store openings in fiscal 2012 will be in California. The company currently plans to accelerate its store growth rate to approximately 10% in fiscal 2013, with the majority of new stores expected to be in California.

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