Hearing begins on Wal-Mart’s bid for Massmart
New York City — Massmart Holdings Ltd. promised to add jobs if Wal-Mart Stores is allowed to buy a controlling stake in the South African wholesaler, CEO Grant Pattison. His remarks were made on Monday at a tribunal in Pretoria, South Africa, that will determine whether Wal-Mart will be able to go through with the deal.
“We’ll add about 20 percent more trading space over the next three years,” Pattison said, according to Bloomberg. Growth in floor space will be accompanied by additional jobs, while current posts will also be secure, he said.
Wal-Mart is looking to buy 51% of Massmart. The bid has been opposed by the South African government and labor unions concerned about jobs and protecting local manufacturers and suppliers. At the hearing, South Africa’s government is expected to warn of thousands of possible jobs if Wal-Mart’s bid goes through without conditions.
As many as 4,000 jobs could be lost if Massmart shifts as little as 1% percent of procurement from local to imported sources, Johannesburg-based Business Day reported on Monday, according to the Bloomberg report.
Impax confirms patent challenge for generic Concerta
HAYWARD, Calif. — Alza Corp. is attempting to block Impax Labs from developing a generic version of Alza’s attention deficit hyperactivity disorder treatment.
Impax confirmed that Alza filed a patent infringement suit in the U.S. District Court for the District of Delaware against the generic drug maker in connection with Concerta (methylphenidate hydrochloride) extended-release tablets in the 18-mg, 27-mg and 36-mg strengths, which is designed to treat ADHD in children ages 6 years and older, adolescents and adults up to the age of 65 years.
Impax said its generic Concerta products are part of the company’s strategic alliance agreement with Teva Pharmaceuticals, in which Teva will commercialize the products if the Food and Drug Administration approves the related abbreviated new drug application.
According to Wolters Kluwer Health, U.S. sales of Concerta tablets in the 18-mg, 27-mg, 36-mg and 54-mg strengths were approximately $1.4 billion for the 12 months ended in February.
Huggies brings back jean diapers
DALLAS — Huggies’ limited-edition diaper product is returning to store shelves this summer.
Huggies jeans diapers and wipes will be available nationwide from May through July at retail outlets where diapers are sold, parent company Kimberly-Clark announced. What’s more, for every purchase of Huggies jeans diapers or wipes, the brand will donate diapers to families in need through its Every Little Bottom program. The goal is to donate 22.5 million diapers in 2011.
"This summer, we are encouraging parents all across North America to help contribute to this cause by purchasing packages of the limited-edition Huggies jeans diapers and wipes. Together, we can help make sure that moms nationwide are able to provide their babies a clean, dry diaper," Huggies brand VP Erik Seidel said.