PepsiCo, PepsiCo Foundation combine efforts to support flood relief
PURCHASE, N.Y. — PepsiCo and the PepsiCo Foundation on Tuesday announced a donation of $300,000 to support relief efforts in Serbia and Bosnia and Herzegovina after flooding devastated the areas. PepsiCo also will donate 1.5 tons of product to the cause.
The resources will be allocated to the American Red Cross International Response Fund and the World Food Programme. The Foundation will liaise with agency partners to assess deployment of the relief and to gauge potential needs that may arise in the future.
World Food Programme, a United Nations agency, is a humanitarian organization which fights hunger and delivers food to communities in need. On average, WFP feeds more than 90 million people in more than 80 countries. The PepsiCo Foundation has a history of working with such organizations as FP, the Red Cross and others to bring relief to communities that have been ravaged by natural disasters.
Pfizer launches ‘Purple Pill’ Nexium 24HR onto OTC shelves
NEW YORK — Pfizer on Tuesday announced the introduction in the United States of over-the-counter Nexium 24HR, making the "Purple Pill" available for the treatment of frequent heartburn in adults.
“The addition of Nexium 24HR to our portfolio enhances our ability to help consumers better manage their health,” said Paul Sturman, president and general manager, Pfizer Consumer Healthcare. “Nexium 24HR creates a new option for treating frequent heartburn with the confidence of a brand that consumers and healthcare providers know and trust. The OTC availability of Nexium 24HR in the U.S. marks the first step in our efforts to build a strong, global position in digestive health with this powerful brand.”
“Switching a brand with this kind of loyalty and equity is a tremendous business opportunity, and we have a critical responsibility to our partners, to our retail customers, to healthcare providers and most importantly, to consumers,” commented T.J. Higgins, North American president, Pfizer Consumer Healthcare. “Nexium 24HR protects people from frequent heartburn, and also from the fear and hesitation that heartburn causes.”
“I, along with many of my colleagues, have come to trust The Purple Pill as the number one prescribed acid blocker brand,” noted David Johnson, professor of medicine and chief of Gastroenterology Eastern VA Medical School Norfolk VA. “The availability of Nexium 24HR represents an important development in access to the medication at a time when people are in need of a short term course of therapy for effective self-care solutions. And with 15 million Americans suffering from heartburn daily, making Nexium available without prescription helps to fill a crucially important unmet need.”
Pfizer acquired exclusive global OTC rights to Nexium from AstraZeneca in August 2012. Nexium 24HR was approved by the Food and Drug Administration on March 28 and received three year market exclusivity.
Pfizer reiterates $118 billion bid for AstraZeneca was final offer
NEW YORK — Pfizer on Monday reiterated that its bid on May 18 of $118 billion for AstraZeneca was the final offer on the table.
Following the AstraZeneca board’s rejection of the proposal, Pfizer announced that it does not intend to make an offer for AstraZeneca.
“We continue to believe that our final proposal was compelling and represented full value for AstraZeneca based on the information that was available to us," stated Ian Read, Pfizer chairman and CEO. "As we said from the start, the pursuit of this transaction was a potential enhancement to our existing strategy. We will continue our focus on the execution of our plans, bringing forth new treatments to meet patients’ needs and remaining responsible stewards of our shareholders’ capital.”