Report: Nicotine replacement product sales to reach $6.2 billion worldwide by 2018
NEW YORK — Global sales of nicotine replacement products are expected to reach $6.2 billion in 2018, following compound annual growth rates of 4.5% between now and then, GBI Research reported Wednesday.
The report noted that the prevalent population for nicotine addiction stood at 136.7 million people in 2011, while the "diagnosed" population, defined as those going to visit a physician concerning smoking cessation, only was 40 million. While 70% of smokers want to quit, less than 5% actually do, indicating a massive opportunity for companies willing to enter the market, GBI Research noted, citing GlaxoSmithKline research.
Popular nicotine replacement therapies that are available over the counter account for 75% of all smoking cessation therapies sold worldwide, GBI Research noted.
The global nicotine addiction therapeutics market was estimated at $4.5 billion in 2011, indicating a compound annual growth rate of 3.1% between 2004 and 2011.
Sears Holdings narrows losses in Q2 as comps decline
HOFFMAN ESTATES, Ill. — Sears Holdings, the parent company of Kmart, posted a 3.7% decline in same-store sales and a $132 million loss for second quarter 2012, according to financial results announced Thursday.
The loss was slightly smaller than the $152 million loss posted in second quarter 2011, while sales for the company were $9.5 billion, down $671 million, compared with the same period last year. The decline in comps included a 4.7% decline in Kmart comps and a 2.9% decline in Sears comps in the United States. Kmart’s total sales during the quarter were $3.4 billion, compared with $3.6 billion in second quarter 2011.
"We continue to make progress against the priorities we outlines in our fourth quarter earnings release and call," Sears Holdings president and CEO Lou D’Ambrosio said. "In particular, we have improved our profit position, as we reduced expenses and expanded marring rate through more effective promotional design. We have also successfully lowered inventory, reduced debt from year end and enhanced our liquidity."
The company said the decline in comps came from price compression in consumer electronics, a decline in lawn and garden sales due to drought conditions in many parts of the country, improved inventory in seasonal merchandise leading to lower clearance sales primarily in the apparel categories and a decline in pharmacy sales due to increased use of generic drugs.
Meanwhile, the narrowing in the company’s losses was due to a reduction in selling and administrative expenses and an improvement in gross margin rate, the company said.
As of July 28, the company operated 1,261 Kmart stores and 814 domestic Sears stores, compared with 1,304 Kmart stores and 884 domestic Sears stores as of July 30, 2011.
Pharmaca expands immunization offerings
BOULDER, Colo. — Pharmaca Integrative Pharmacy on Tuesday announced that it now is offering immunizations for influenza, whooping cough, pneumonia and shingles on a walk-in basis at all of its locations. Pharmaca pharmacists can provide the shots to any customer who requests one during open pharmacy hours.
“Immunizations can be vital to reducing the risk of serious illness from flu and whooping cough,” Pharmaca VP pharmacy operations Stuart Gratz said. “The Centers for Disease Control have identified the populations that can benefit most from certain immunizations, and we’re happy to be able to serve those needs.
"By offering these vaccinations at any time, we’re serving the needs of customers who feel that immunization is the best option for them — and making it most convenient for them," Gratz said. "Pharmaca has made the process even simpler by making patient intake forms available for download on [the] website. Patients can save time by filling them out ahead of time and bringing them with them when they request an immunization."
Pharmaca also will hold Vaccination Clinics every Tuesday between 2 p.m. and 6 p.m. throughout the flu season.