P&G posts Q4 results
CINCINNATI — Procter & Gamble announced on Friday that fourth-quarter earnings rose nearly 45%, due to gains from the sale of its snacks business, as sales slipped 1%.
Net sales for the April to June quarter totaled $20.2 billion, a decrease of 1%. Organic sales rose 3% due to price increases, partially offset by geographic mix.
For the quarter, P&G posted a profit of $3.63 billion, or $1.24 a share, up from $2.51 billion, or 84 cents, in the year-ago period. Excluding such items as restructuring costs and gains from selling the snacks business, core earnings were 82 cents a share, consistent with the prior year and 3 cents per share above the top end of the company’s guidance range. P&G completed the sale of its snacks business in the quarter, which resulted in a net gain of 48 cents per share.
In beauty care, net sales dropped 4% to $4.8 billion, as organic sales grew 1%. Price increases added 4% to net sales growth. Net earnings were in line with the prior-year period at $382 million as net earnings margin expansion offset the impact of reduced net sales.
In grooming, net sales decreased 6% to $2 billion, with price increases adding 1% to net sales. Grooming net earnings were in line with the prior year at $406 million as an expansion in operating margin was offset by the decrease in net sales.
Mylan, Gilead sign HIV/AIDS drug deal
PITTSBURGH — Mylan and Gilead Sciences have made an agreement under which Mylan will have rights to produce and market generic versions of Gilead drugs for HIV and AIDS in developing countries.
The agreement, involving Gilead and Mylan subsidiary Mylan Labs Ltd., centers around drugs containing emtricitabine, the active ingredient in such drugs as Emtriva, and such fixed-dose combinations as Truvada (emtricitabine and tenofovir disoproxil fumarate) and the experimental Quad.
"Access to affordable medicine continues to be an acute need in tackling HIV/AIDS and once again we are delighted to be collaborating with Gilead in these efforts," Mylan CEO Heather Bresch said. "Mylan is focused on expanding access to high-quality treatments to those in need around the world. Partnerships like this one ensure that patients in developing markets have access to important, recommended treatment options, like those containing emtricitabine."
SoloHealth, WellPoint announce strategic relationship
ATLANTA — SoloHealth on Friday announced a new relationship with WellPoint to help provide consumers with convenient access to information about their health and wellness through the next-generation SoloHealth Station consumer kiosks.
The news comes on the heels of SoloHealth’s recent FDA approval in June, as well as its announcement of an aggressive rollout to retail locations nationwide to begin this fall.
The SoloHealth Station is an interactive, comprehensive health-and-wellness screening kiosk for consumers placed in high-traffic retail locations or high-volume places like corporate campuses or hospitals. “We’re really taking healthcare to where the people are,” Bart Foster, SoloHealth CEO, told DSN.
The SoloHealth Station provides health screenings for vision, blood pressure, weight and body mass index, a symptom checker, as well as an overall health assessment free of charge. SoloHealth also helps connect consumers to local professionals through their databases, helping people enter the most appropriate and accurate point in the health care system.
With this kiosk in mind, SoloHealth was one of the companies invited to testify before the Food and Drug Administration’s public meeting on ways to expand the Rx-to-OTC switch paradigm. "The kiosk can help to drive awareness around a particular condition or remedy, can help educate the consumer and spark action, Foster said. "It’s precisely in the sweet spot of what the FDA is trying to do."
"We have a longstanding commitment to help people get healthy and stay healthy by leveraging consumer-friendly products and services to improve their health and wellness," stated Brett Moraski, VP transformation for WellPoint. "SoloHealth’s consumer kiosk … is a truly innovative product that leverages technology to provide an enhanced, convenient and engaging consumer health experience. By investing in SoloHealth, we are excited to help millions of Americans better manage their own health and wellbeing."
The relationship includes a financial investment but terms were not disclosed. Additionally, Brett Moraski has been named to the SoloHealth board of directors.