PHARMACY

Target opens three retail clinics in Twin Cities market

BY Antoinette Alexander

MINNEAPOLIS — Target opened on Monday three new retail-based health clinics in the Twin Cities as part of its expansion plan announced earlier this year.

As previously reported by Drug Store News, Target announced earlier this year plans to open eight new clinic locations this year in the Twin Cities (four clinics), Chicago (three clinics) and Fort Lauderdale-Davie, Fla., areas (one clinic) by the end of July. The first of the new clinics opened in the Twin Cities on March 2.

According to a local news report, three new Twin Cities locations opened on Monday.

Earlier this year, Target stated that it would have 44 Target Clinic locations by the end of July.

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PHARMACY

Taro sees sales, profits spike in Q2

BY Alaric DeArment

HAWTHORNE, N.Y. — Israeli generic drug maker Taro Pharmaceutical Industries got a big boost in sales and profits during second quarter 2011, according to a financial report released Tuesday.

Taro reported sales of $111.6 million, a 14.2% increase, compared with second quarter 2010. In addition, profits were $35.7 million, a $19.3 million increase over the same period last year.

“These results reflect our continuing efforts to improve our business model and processes as we pursue operating efficiencies, cost efficiencies and speed-to-market of quality products,” Taro interim CEO Jim Kedrowski said. “We are focused on the successful execution of these important strategic and business development opportunities in order to remain well-positioned for future growth.”

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Watson garners 24% increase in Q2 sales

BY Alaric DeArment

PARSIPPANY, N.J. — Watson Pharmaceuticals had sales of $1.1 billion during second quarter 2011, the generic drug maker said.

In a financial report released Tuesday, Watson said the sales figures for the quarter represented a 24% increase over sales in second quarter 2010. Profit for the quarter was $52.4 million, compared with $70.6 million in second quarter 2010.

“Our record $1 billion in net revenues in the second quarter demonstrates the strength of our combined global generics and global brands strategies,” Watson president and CEO Paul Bisaro said.

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