FTC gives green light to Giant Food for Genuardi’s acquisition
CARLISLE, Pa. — The Federal Trade Commission has approved Giant Food Stores’ proposal to acquire 15 Genuardi’s stores from Safeway.
The announcement follows Giant’s Jan. 5 announcement that it would acquire the Genuardi’s stores, all of which are located in the greater Philadelphia market. Giant also noted that under the terms of a consent order approved by the FTC, the Genuardi’s located in Newtown, Pa., will be purchased by Newtown Market and will be operated as a McCaffrey’s supermarket.
Giant is working with Safeway to begin the store transition process. The dates for each store conversion will be announced in the near future.
"We are excited to welcome the former Genuardi’s associates to the Giant family. We can’t wait to introduce our unique combination of quality, selection and savings to more neighborhoods in greater Philadelphia," Giant Food Stores president Rick Herring said. "Customers can expect to find the same friendly faces when they shop at Giant."
Court rules against Merck in Nasonex patent case
WHITEHOUSE STATION, N.J. — Merck announced that the U.S. District Court for the District of New Jersey ruled against the company in a patent infringement suit against Canada-based drug maker Apotex.
The patent at issue in this case — U.S. Patent No. 6,127,353 — covers mometasone furoate monohydrate, the active ingredient in Nasonex. The patent provides exclusivity for this form of mometasone until April 3, 2018. Apotex is seeking U.S. Food and Drug Administration approval to sell a generic version of Nasonex. The court ruled that while the patent is valid, the release of Apotex’s product would not infringe on the patent.
"While we are pleased with the court’s ruling that the patent for Nasonex is valid, we are disappointed the court ruled that this patent would not be infringed by the Apotex product. We believe the patent for Nasonex in the United States is valid and would be infringed by the Apotex product," Merck EVP and general counsel Bruce Kuhlik said. "Today’s decision reflects just one step in the lengthy patent litigation process, and we plan to review all of our options, including a likely appeal of the decision."
More consumers plan to boost spending during BTS season
LOS ANGELES — Nearly half of U.S. shoppers plan to spend more this back-to-school shopping season than in 2011, according to a recent PriceGrabber survey.
The survey pooled responses from 4,450 U.S. online shopping consumers, with 1,509 of the respondents planning to shop this back-to-school season. Of the respondents planning to shop this BTS season, 46% said they plan to spend more this year than in 2011, while 35% said they plan to spend the same amount, compared with 52% that expressed this sentiment in 2011 and 19% are looking to spend less this year, compared with 35% in 2011.
When it comes to when consumers plan to begin shopping for back to school, PriceGrabber found that 17% of consumers plan to start their back-to-school shopping in June, 35% plan to start shopping in July, 44% noted August and 3% said September. Similar to last year, shoppers still plan to spread out their back-to-school purchases in order to distribute the cost over a longer time period. According to PriceGrabber survey data, 55% of consumers plan to spread out their back-to-school purchases this year.
"From last year’s holiday shopping season through the middle of 2012, we have seen consumers starting to shop earlier surrounding major shopping seasons and holidays, and we expect this trend to continue this back-to-school shopping season," PriceGrabber general manager Graham Jones said. "While PriceGrabber survey data reveals that many consumers are planning to spend more money this back-to-school shopping season, a few are still hesitant about spending, leading shoppers to search for deals even earlier to take advantage of retailer incentives and discounts, such as free shipping, coupons and sales."