BEAUTY CARE

NABP white paper stresses drug supply chain security

BY Alaric DeArment

NEW YORK — Keeping counterfeit and diverted drugs out of the U.S. drug supply chain will require closing vulnerable regulatory gaps that risk letting them in, according to a new report by the National Association of Boards of Pharmacy.

In the white paper, "Wholesale Drug Distribution: Protecting the Integrity of the Nation’s Prescription Drug Supply," the NABP pointed to the role of unscrupulous wholesalers that it says distribute counterfeit drugs and unapproved drugs from foreign countries. To help safeguard the distribution chain, the group has implemented updated criteria for its Verified-Accredited Wholesale Distributors accreditation program, including letting virtual wholesale distributors qualify for it. The group also said it supported state-level efforts to strengthen and work toward uniformity in prescription drug distribution laws to eliminate the regulatory gaps that leave the supply chain vulnerable.

As an example of regulatory loopholes used by rogue distributors, some will hide suspect transactions by exploiting the complexity of the virtual distribution model where drugs may change hands several times, but not be in the physical possession of the distributor. In other cases, a pharmacy may supply shortage drugs to a wholesaler under the guise of an intra-company transfer, after which the distributor hoards and later sells them to pharmacies or other healthcare entities at significantly higher prices.

The NABP cited cases last year of large-scale drug diversion involving corrupt wholesalers and Medicaid fraud, as well as the U.S. distribution of foreign-sourced, unapproved cancer drugs by two licensed wholesalers.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
BEAUTY CARE

CCA Industries names Richard Kornhauser CEO, president

BY Antoinette Alexander

EAST RUTHERFORD, N.J. — CCA Industries, a marketer and distributor of such health and beauty products as Nutra Nail nail care treatments and Gel Perfect gel color, has appointed Richard Kornhauser as CEO and president, effective immediately.

The unfortunate loss of the company’s CEO Dunnan Edell earlier this year caused it to operate without a full-time CEO during the last eight months. The company stated that, without the “energy, passion and creativity” that Dunnan brought to CCA Industries and its brands, the company lost momentum in 2013. As a result, the company’s performance, in-store merchandising position and turnover were not nearly on par with its efforts over the past 25 years, the company explained.

The company has been seeking a new CEO and has employed Kornhauser to help drive CCA Industries going forward.

For the past 30 years, Kornhauser has honed his management skills, entrepreneurial drive and sense of opportunities in the health and beauty aids Industry at companies with similar problem-solution brands to CCA Industries: Chattem, Combe and FGX International. He was instrumental in spearheading the marketing and advertising efforts that helped drive significant and profitable growth for such brands as Gold Bond skin care, Icy Hot topical analgesics, Selsun-Blue dandruff shampoo, Sea Bond denture care, Odor-Eaters foot care and the Foster Grant eyewear brand.

The company has commenced a major reorganization of its operations and has already substantially reduced overhead. It will also temporarily suspend its quarterly dividend. These savings are being targeted for new marketing and advertising programs, including new product launches and sales promotional efforts that will aim to trigger new momentum in the coming year.

For the Q3 ended Aug. 31, the company reported total revenues of $9.7 million and a net loss of $792,892. For the same period of 2012, the company had revenues of $14 million and net income of $428,747.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?
BEAUTY CARE

Ulta Beauty invites beauty mavens to pucker up for a cause with Kiss Kart

BY Antoinette Alexander

CHICAGO — Ulta Beauty recently stationed its first ever “Kiss Kart” in the heart of Chicago as part of its Donate with a Kiss campaign to raise funds for the Breast Cancer Research Foundation.

(Kristin Cavallari stopped by Ulta Beauty’s Kiss Kart to support The Breast Cancer Research Foundation on Oct. 10 at Chicago’s Pioneer Court.)

Consumers who visited the Kiss Kart could donate $1 to BCRF to receive a “kiss” sticker representing their donation. Among the celebrities who hosted the Kiss Kart was designer Kristin Cavallari. 

Anyone who donated a $1 also got their own kiss perfected by an Ulta Beauty makeup artist at the Kart. And, they got to keep the complementary lip gloss from Jane Cosmetics.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon’s entry would shake up the most?