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Study: Vacationers purchase based on location, not brand

BY Marianne Wilson

DENVER — While on summer vacation, nearby location trumps brands for many types of consumer purchases, and mobile devices will be the dominant form of search.

A new study conducted by location marketing automation provider Placeable shows that proximity is apparently so important that only 1% of vacationers consider reviews when looking to replace a forgotten item.

In addition, 65% of the travelers surveyed report that they seek restaurants and retail locations within five miles of their current location while on vacation. Seventy-six percent reported that they search for local retailers, and 89% look for local restaurants while they are away from home.

Most consumers use mobile devices to find products, services and places while they are away. Placeable reports that more than 85% of consumers search for restaurants and retailers on their mobile device while they are on vacation, and 54% of travelers postpone researching restaurants until they are already on vacation.

“Enterprise brands must optimize themselves locally to capture vacationers searching for non-brand products, services and places,” said Ari Kaufman, CEO of Placeable. “Travelers are increasingly dependent on their mobile devices while on vacation. Based on vacationer preference towards proximity rather than brand, accurate location data and optimized web sites are paramount. Enterprise advertisers must leverage web and mobile locators with local landing pages to capture vacationers that are searching for the closest business.”

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Forest Labs closes deal on Furiex Pharmaceuticals for $1.1 billion

BY Michael Johnsen

DUBLIN – Actavis on Wednesday announced that its subsidiary Forest Labs has successfully completed its acquisition of Furiex Pharmaceuticals in an all-cash transaction valued at approximately $1.1 billion, and up to approximately $360 million in a Contingent Value Right that may be payable based on the status of eluxadoline, Furiex's lead product, as a controlled drug, following approval.
 
In connection with the close of the Furiex acquisition, Actavis further announced that it has closed the transaction related to the sale of Furiex's royalties on alogliptin and Priligy to Royalty Pharma for approximately $415 million.
 
"The strategic acquisition of Furiex strengthens Actavis' focus on gastroenterology where we are an industry leader, positioning us for continued long-term growth in IBS treatment," said Brent Saunders, CEO and president of Actavis. "Furiex's lead development product eluxadoline is a natural extension to our GI business, complementing our Linzess, Asacol and Delzicol franchises, as well as the products acquired as part of the acquisition of Aptalis earlier this year. If approved, eluxadoline could represent a significant advance in the treatment of IBS-D, and would give Actavis one of the broadest product offerings for the $38 billion GI disease market," he said. "This product, if successful, would make Actavis even more relevant to gastroenterologists and primary care physicians in meeting significant patient needs."
 
Eluxadoline is a first-in-class, locally-acting mu opioid receptor agonist and delta opioid receptor antagonist for treating symptoms of diarrhea-predominant irritable bowel syndrome (IBS-D), a condition that affects approximately 28 million patients in the United States and Europe. In February 2014, Furiex announced top-line results indicating the company's two pivotal Phase III clinical trials evaluating the efficacy and safety of eluxadoline in the treatment of IBS-D met both the Food and Drug Administration and the European Medicines Agency formally agreed-upon primary endpoints of composite response based on simultaneous improvements in stool consistency and abdominal pain.
 
Actavis expects to be in a position to announce an acceptance for filing of the new drug application for eluxadoline by the end of the third quarter of 2014.
 
 

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American Diabetes Association CEO to step down

BY Michael Johnsen

ALEXANDRIA, Va. – Larry Hausner, CEO of the American Diabetes Association. on Tuesday announced that he will step down as CEO, effective July 31, 2014, to pursue new opportunities in his native New York metro area. The ADA board of directors expressed gratitude to Hausner for his seven years of service.
"During his tenure, Hausner has been instrumental in leading the Association through a number of successful initiatives. Under his guidance, the Association launched the Stop Diabetes movement, creating improved brand awareness for the organization and our cause," the ADA stated. "In addition, Hauser has overseen the introduction of a successful diversity and inclusion initiative within the Association, which helped improve the diversity of our board of directors from 18% to 42%. Other notable Association achievements during Hausner' s tenure include the development and successful launch of our innovative new research program, Pathway to Stop Diabetes, growth of our Safe at School program and our successful efforts to protect the rights of those with diabetes during the debate over healthcare reform."
The search for a new CEO will commence immediately, and an interim CEO will be named by mid-July, ADA announced. 
 

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