Scott Naturals names winner of four-week test drive promotion
DALLAS — Scott Naturals has announced the winner of its nationwide promotion, which asked consumers to to pledge to try the Scott Naturals line of hybrid paper products for four weeks.
The brand declared the state of Alaska as the winner and will donate $50,000 to be used toward local forest and land conservation efforts to the Alaska Department of Natural Resources, through the National Association of State Conservation Agencies.
Scott Naturals also will be making a donation to New York due to the state’s "overwhelming participation."
This marks the second year of the Scott Naturals four-week test drive and the first year that the brand has made a donation toward conservation efforts.
Board of directors for Kraft Foods OKs grocery biz spinoff
NORTHFIELD, Ill. — Kraft Foods’ board of directors approved the spinoff of its North American grocery business.
Kraft Foods will complete the spinoff of its North American grocery business on Oct. 1 through a pro rata dividend of all outstanding shares of Kraft Foods Group common stock it owns to its shareholders of record as of the close of business on Sept. 19.
In related news, the board also declared a regular quarterly dividend of 29 cents per share of common stock. This cash dividend is payable on Oct. 15 to Kraft Foods stockholders of record as of the close of business on Sept. 19.
Ranbaxy reports Q2
GURGAON, India — Consolidated sales for generic drug maker Ranbaxy Labs totaled $588 million in the second quarter ended June 30, a 28% rise over the year-ago period, the company said.
The drug maker reported that North American sales soared 140% over the year-ago period to a total of $272 million, aided by strong base business. U.S. sales for Ranbaxy were $255 million for the quarter, thanks to strong base business and exclusivity sales of such drugs as atorvastatin and atorvastatin and amlodipine (Lipitor and Caduet, respectively).
Ranbaxy added that during the quarter, it fortified its dermatology portfolio with two approvals from the Food and Drug Administration: Absorica — a novel, patented brand formulation of the acne medication isotretinoin, developed by Cipher, for the treatment of severe recalcitrant nodular acne, which the company expects to launch by the end of 2012 — and Ximino, a novel, patented brand formulation for the treatment of moderate to severe non-nodular acne.
"Sales and profitability grew in the Quarter with overall improvement across major regions, aided further by exclusivity sales in some of the key markets," Ranbaxy managing director and CEO Arun Sawhney said. "We capitalized on our product focus approach with the successful monetization of the atorvastatin and atorvastatin + amlodipine opportunities. The strategy to build long-term, differentiated value drivers was rewarded with two NDA approvals in the dermatological space in the USA."