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FDA approves morphine sulfate oral solution

BY Alaric DeArment

ALLEGAN, Mich. — The Food and Drug Administration has approved an oral painkiller made by Perrigo, the drug maker said Wednesday.

Perrigo announced the approval of morphine sulfate oral solution in the 100-mL/5% strength. The drug is a Schedule II controlled substance and is used to treat moderate to severe acute and chronic pain. Sales of the drug are about $26 million per year, according to Wolters Kluwer Health. Perrigo said it would ship the drug immediately.


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RILA to presidential candidates: Pursue pro-retail policies

BY Allison Cerra

ARLINGTON, Va. — The Retail Industry Leaders Association is urging President Barack Obama and Gov. Mitt Romney to consider the retail industry’s role in the U.S. economy as the presidential candidates "advance their visions for the future."

In letters sent to both politicians, RILA president Sandra Kennedy and RILA board chairman Gregg Steinhafel — who also serves as chairman, president and CEO of Target — said that, "As this year’s political debate unfolds, we welcome the attention that has been paid to three issues of critical importance to all Americans: how to create jobs, speed our economic recovery and avert the certain disaster that would befall America if the fiscal cliff is not properly addressed," Kennedy and Steinhafel wrote. "With that focus in mind, we write to underscore the importance of the retail industry in our economy and the critical role the industry will play in its revitalization. Indeed, the vibrant economy we all seek cannot exist without a robust retail industry."

Kennedy and Steinhafel noted that the retail industry is America’s second-largest private-sector employer and while the retail industry’s size and contribution to the economy cannot be understated, it is also hypersensitive to economic fluctuations and government regulations.

"As you advance your vision for growing the economy, we urge you to consider policies that bolster a vibrant retail industry, allowing it to grow, add jobs and better serve consumers," Kennedy and Steinhafel said.

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Survey: Consumers more willing to disclose data to retailers than social networks

BY Allison Cerra

SAN MATEO, Calif. — Consumers are more comfortable sharing data with retailers than they are with social networks, especially if it enhances the shopping experience, according to a recent survey conducted by the E-tailing Group and MyBuys.

Examining the evolving relationship between consumers, retailers and social media, the companies surveyed 1,000 consumers online and determined that more than half are "mostly willing" to provide shopping preferences to trusted retailers in exchange for an enhanced shopping experience (55%), while 52% of consumers responded that they are "much more concerned" or "somewhat more concerned" about sharing the same data on social networks. When asked about specific types of information they would share, 63% of respondents said they would share the types of offers they prefer; 61% said they would share the brands they buy; and 60% would share the products they purchase. On the mobile frontier, consumers remained more cautious: three-quarters of consumers indicated they have mixed feelings or find it somewhat undesirable to be geo-targeted on their mobile device (76%).

"Today’s consumer is a savvy operator who expects a tailored online experience. The irony is that they’re more comfortable sharing shopping preference information with retailers than they are with social networks, which were designed for this type of exchange," MyBuys CEO Robert Cell said. "The onus is clearly on retailers to leverage this privilege responsibly to deliver on the promise of a better experience. The data strongly shows that doing so results in a better shopping experience for the consumer, increases brand loyalty and makes it a win-win for both consumers and retailers. Online privacy is a complex issue and there is no ‘one-size-fits-all’ answer, but consumers are willing to share data when there is an equitable value exchange."

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ManmohanManu says:
Aug-09-2012 06:28 am

Good insights from survey. I work for McGladrey and there's a white paper on Retail on the website ( http://bit.ly/JDHmUU ) that describes current trends in US retail sector with insights from industry experts.

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