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Sears plans to get $1 billion loan

BY Alaric DeArment

HOFFMAN ESTATES, Ill. — Sears Holdings is hoping to obtain a new loan in order to reduce borrowings from an older loan agreement, the company said Monday.

Sears Holdings, the parent company of mass merchandiser Kmart, said it had issued a notice that it intended to obtain an incremental term loan of up to $1 billion.

The company said that if it went through, the loan would be issued under an existing $3.3 billion revolving facility credit line and would be used to reduce borrowings under it. The company said it hoped to secure the incremental term loan on the same collateral as the revolving facility, and that it would mature in June 2018.

 

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P&G announces upgrades to Pampers diapers line

BY Jason Owen

CINCINNATI — Pampers, a Procter and Gamble brand, announced on Monday product upgrades across its entire line of diapers, training pants and wipes. The new product enhancements come after the company sponsored a survey of moms to address their concerns of unmet needs for their babies.

“At Pampers, we strive to meet the needs of every mom and baby,” said Fama Francisco, Pampers VP and general manager. “In the last 18 months, we’ve listened to thousands of moms on what they want for their baby. They told us a diaper that provides superior dryness, comfort and fit, particularly overnight.”

With that insight, Pampers is launching Pampers Baby Dry, a diaper the company states is three times drier than ordinary diapers and provides up to 12 hours of overnight protection with three layers of absorbency.

The company also announced the Pampers Swaddlers line is now available through size five. Also, Pampers Crusiers diapers are now more absorbent and offer a better fit than previously, the company noted.

Pampers recently sponsored a survey of more than 1,000 moms with children ages 3 years and younger. The survey found that nearly 1-in-3 mothers of babies ages 1 year or younger (30%) responded that they expect a wet, leaky diaper to be the No. 1 reason their babies may wake up at 3 a.m. Furthermore, the leading technique mothers of babies ages 3 years or younger (32%) use to help their babies have an uninterrupted night of sleep is to put a dry diaper on them before bed.


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Actavis launches generic post-shingles pain patch

BY Alaric DeArment

PARSIPPANY, N.J. — Actavis has launched a generic drug for post-shingles pain under an agreement with the branded drug’s manufacturers, the company said Monday.

Actavis announced the launch of generic lidocaine topical patches in the 5% strength under a settlement agreement with Endo Pharmaceuticals and Teikoku Seiyaku Co. The drug is a generic version of Lidoderm, and Actavis said it was likely the first company to win approval for the generic from the Food and Drug Administration, thus entitling it to 180 days in which to compete exclusively against the branded version.

"Thanks to this settlement agreement, consumers across the country are today benefiting from generic competition on Lidoderm more than two years before the product’s patents expire," Actavis president and CEO Paul Bisaro said. "We are pleased to be able to provide patients with this more affordable treatment option while offering yet another reminder of how patient settlements have saved and continue to save consumers billions of dollars and ensure the more timely introduction of generic competition."

Lidoderm had sales of about $1.4 billion during the 12-month period that ended in May, according to IMS Health.


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