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Q2 sales, EPS rise for Publix

BY Allison Cerra

LAKELAND, Fla. One of the nation’s largest grocery chains reported its second-quarter earnings on Monday.

Publix said its second-quarter earnings totaled $6.2 billion, a 3.4% increase from last year’s $6 billion, as comparable-store sales increased 2.4%. Net earnings for the quarter 2010 were $348.4 million, compared with $300.8 million in 2009, an increase of 15.8%. Earnings per share increased to 44 cents for second quarter 2010, up from 38 cents per share in 2009.

Although Publix did not report on its pharmacy sales, since Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors, the store does operate upwards of 700 pharmacies in its stores.

“I’m proud that our Publix associates delivered strong operating results,” said Publix CEO Ed Crenshaw. “Unfortunately, these results were not enough to offset the continuing challenges in the stock market.”

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Smiling Planet announced partnership with Healthy Child Healthy World

BY Allison Cerra

LOS ANGELES Smiling Planet a new line of earth-friendly lifestyle products for kids, has joined the Healthy Child Healthy World network.

The partnership represents a joint commitment to raising awareness about preventing children’s exposure to harmful chemicals, and also reinforces the high standards of safety, quality, and environmental consciousness that Smiling Planet sets for its children’s dinnerware. Smiling Planet’s plates and bowls are specifically designed to be a safe and practical alternative to dinnerware containing melamine, BPA and other harmful chemicals, Smiling Planet said.

“Today’s parents are inundated with conflicting information about product safety, often leaving them unsure about which products are best,” said Freddy Deane, who co-founded Smiling Planet with wife Olivia Haviland. “We’re proud to join Healthy Child Healthy World to empower parents to find the safest possible products for their children, and for the planet.”

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Sagent’s generic Imitrex receives regulatory approval

BY Alaric DeArment

SCHAUMBURG, Ill. The Food and Drug Administration has approved a generic injected drug made by Sagent Pharmaceuticals for treating migraine attacks, Sagent said Monday.

 

The FDA approved Sagent’s sumatriptan succinate injection in the 6 mg per 0.5 milliliter strength. The drug is used to treat acute migraine attacks and cluster headache episodes.

 

 

Sumatriptan is a generic version of GlaxoSmithKline’s Imitrex. Injectable sumatriptan had $22 million in sales in 2009, according to IMS Health.

 

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