Shoppers Drug Mart, RBC extend alliance with new Shoppers Optimum MasterCard
TORONTO — Royal Bank of Canada and Canadian pharmacy retailer Shoppers Drug Mart have introduced a new cobranded RBC Shoppers Optimum MasterCard. In conjunction with the launch, RBC announced its intention to acquire the existing Shoppers Optimum MasterCard credit card portfolio.
"This is a natural extension of the strategic alliance between RBC and Shoppers Drug Mart," said Dave McKay, group head of Canadian banking at RBC. "Our joint program is designed to deliver financial flexibility while giving Canadians access to one of the top loyalty programs in the country. This is another step forward in making banking easier and the retail experience more rewarding for everyone."
The RBC Shoppers Optimum MasterCard is a no-annual fee credit card with increased Shoppers Optimum Points earning potential. The credit card features chip and PIN security, extended warranty and purchase security insurance.
The RBC Shoppers Optimum MasterCard program is the latest cobranded financial services product offered by two of Canada’s leading brands and complements the RBC Shoppers Optimum banking account and debit card. Since March, Canadians with this account have been able to earn more Shoppers Optimum points by paying with their debit card and have gained access to Canada’s largest network of ATMs across the country, including more than 250 ATMs in Shoppers Drug Mart and Pharmaprix stores and an additional 50 ATMs to be installed by year-end.
"We are continuously looking for new ways to reward our Shoppers Optimum members and are pleased to provide this enhanced financial service offering with RBC, a trusted leader in banking," Shoppers Drug Mart president and CEO Domenic Pilla said. "Our Shoppers Optimum loyalty program members are among our most passionate customers, and with the launch of this new credit card they will have more options for earning rewards."
Perrigo seeks approval for generic bronchospasm drug
ALLEGAN, Mich. — Perrigo is seeking regulatory approval for what it called the first generic version of a drug for treating bronchospasm.
The generic drug maker said it had filed with the Food and Drug Administration for albuterol sulfate HFA inhalation aerosol, a generic version of Teva’s ProAir HFA. Because Perrigo’s approval application contained a legal challenge to Teva’s patent, Teva filed suit against Perrigo and Catalent Pharma Solutions, which also contributed to the application, in the U.S. District Court for the District of Delaware Wednesday, alleging patent infringement.
While Teva’s suit puts a stay on FDA approval of Perrigo’s application, Perrigo likely will be entitled to 180 days of market exclusivity in which to compete directly against the branded product, as long as it wins approval from the agency.
ProAir, used to treat and prevent bronchospasm symptoms in children ages 4 years and older, has sales of about $1.07 billion, according to Wolters Kluwer Health.
Mylan settles with Pfizer over generic bladder drug
PITTSBURGH — Generic drug maker Mylan has settled a patent litigation suit with Pfizer concerning a drug for treating bladder disorders, Mylan said Friday.
The Pittsburgh-based company said it settled with Pfizer over its generic version of Detrol LA (tolterodine tartrate) extended-release capsules in the 2-mg and 4-mg strengths. The drug is used to treat urge urinary incontinence, urgency and frequency.
Under the terms of the settlement, Mylan can launch its drug starting in 2014, pending final approval by the Food and Drug Administration, either as a generic drug or as an authorized generic, which is a branded drug marketed under its generic name at a reduced price.
The drug had sales of $599 million during the 12-month period ended in June, according to IMS Health.