P&G sees Q3 organic sales climb 3%
CINCINNATI — Procter & Gamble announced on Wednesday that third-quarter results met expectations, and the company remains on track to deliver top- and bottom-line growth objectives for the fiscal year.
Net sales for the quarter remained flat at $20.6 billion, including a negative three-percentage point impact from foreign exchange. P&G delivered organic sales growth of 3% for the quarter.
Fiscal year 2014 core earnings per share were $1.04, an increase of 5% versus the prior year. On a currency-neutral basis, core earnings per share increased 17% for the quarter. Diluted net earnings per share were 90 cents, an increase of 2%.
“We’re operating in a slow-growth, highly competitive environment, which places even greater importance on strong innovation and productivity improvement. We’re delivering meaningful product innovations that are attracting more consumers to our brands. We’re making good progress on our productivity plans, with cost savings and enrollment reductions ahead of going-in targets for the year. We’re confident that the cumulative benefits from these innovations and productivity improvements will lead, over time, to improved value creation for consumers, customers and shareholders,” said chairman, president and CEO A.G. Lafley.
In the beauty segment, organic sales increased 2% from innovation in hair care, deodorants and personal cleansing, and market growth. This was partially offset by a sales decrease in salon professional and skin care primarily in Asia.
In grooming, organic sales increased 1% due to higher pricing and innovation on blades and razors and appliances, which was partially offset by geographic and product mix and market contraction in developed regions.
Bayer HealthCare gains orphan drug designation for investigational Ciprofloxacin Dry Powder
WHIPPANY, N.J. — Bayer HealthCare on Tuesday announced that the Food and Drug Administration’s Office of Orphan Products Development has granted orphan drug designation for Bayer’s investigational Ciprofloxacin Dry Powder for Inhalation (Ciprofloxacin DPI) for the treatment of non-cystic fibrosis bronchiectasis. Patients with NCFB suffer from frequent severe acute pulmonary bacterial exacerbations, which lead to further inflammation, airway and lung parenchyma damage.
The Orphan Drug Designation program provides orphan status to drugs and biologics that are intended for the safe and effective treatment, diagnosis or prevention of rare diseases and disorders that affect fewer than 200,000 people in the United States, or that affect more than 200,000 but are not expected to recover the costs of developing and marketing a treatment drug.
Ciprofloxacin DPI is in development by Bayer HealthCare as chronic intermittent therapy for reducing the frequency of acute exacerbations in NCFB patients with bacterial respiratory pathogens. It comprises ciprofloxacin, a fluoroquinolone antibiotic, formulated into dry powder for inhalation using Novartis’ PulmoSphere technology and is administered with the T-326 Dry Powder inhaler. Ciprofloxacin DPI therapy in NCFB currently is being investigated in a global Phase III clinical trial program.
Prettie Girls! take a bow at H-E-B
HOUSTON — Last weekend marked the in-store retail debut of the Prettie Girls!, a line of multicultural dolls, at H-E-B stores. The dolls were well-received by customers and sold out completely after just a few hours, the grocer said.
"H-E-B was proud to be selected as the first retailer to offer the Prettie Girls! dolls in select Houston area stores” said James Harris, director of supplier diversity, H-E-B. “We were especially pleased at the sales, as two of the stores sold through on inventories. I applaud the efforts of the One World Doll Project in meeting the needs of our customers."
The Prettie Girls! differ from other fashion dolls on the market, as they mirror the evolving demographics of the United States. The line was created by the One World Doll Project, an organization that seeks to make a significant positive cultural impact through the doll category. The success of the line was paramount to the organization — it proved that children are enthusiastic about playing with dolls that they can relate to, which is important as American becomes more diverse.
“Many of the parents and children we met at the H-E-B stores told us that they are always on the lookout for dolls that look like they do, and were enthusiastic about the launch of the Prettie Girls! in their hometown,” said Trent T. Daniel, founder of the One World Doll Project.
The Prettie Girls! are currently available in select H-E-B locations, as well as nationally through online retailers including Wayfair.com, DollGenie.com, AngelicDreamz.com and PattyCakeDoll.com. The company hopes to further expand distribution this year.