Financial News

DEERFIELD, Ill. — Walgreens on Wednesday reported November sales of $6.1 billion, an increase of 4.1% for the same month in fiscal 2013.

Total front-end sales increased 3.2%, while comparable store front-end sales increased 1.9%. Customer traffic in comparable stores increased 0.8% and basket size increased 1.1%.

The company said that a meaningful increase versus prior quarters in promotional investment contributed to the improvement in traffic and comparable store front-end sales for November and throughout the quarter.

CARLISLE, Pa. – Paula Price is stepping down as Ahold USA's EVP and CFO, the supermarket operator said Tuesday.

NEW YORK — Pfizer on Monday announced that a wholly-owned Polish subsidiary of Pfizer has acquired the rights to Polocard, a low-dose aspirin (acidum acetylsalicylicum), and the leading over-the-counter brand for heart attack prevention in Poland, from ZF Polpharma SA.

MALVERN, Pa. — Shionogi and Egalet have entered a deal worth up to $425 million for the development of abuse-deterrent opioid painkillers, Egalet said.

The deal centers on the development and potential commercialization of experimental drugs containing the opioid painkiller hydrocodone.

MEMPHIS, Tenn. — Fred's Super Dollar on Tuesday credited an 8% lift in pharmacy department sales as a key factor accounting for the company's third-quarter success. "The investments in pharmacy growth have been validated by the 8% increase in its total department sales," said Bruce Efird, Fred's CEO. "Notably, our pharmacy department accounted for more than 40% of total company sales during the quarter.

LAKE FOREST, Ill. — Generic drug maker Hospira will have its investor conference next week, the company said Tuesday.

The drug maker, based in the Chicago area, will have the investor day at its headquarters on Dec. 5. Hospira specializes in manufacturing injectable generic drugs, including biosimilars for the European market.

The event will include slide presentations, and the company will stream it via audio webcast at its investors website, hospirainvestor.com.

OSLO, Norway — German chemical and pharmaceutical giant Bayer plans to buy Norwegian drug maker Algeta for $2.4 billion, Algeta confirmed Tuesday.

Responding to earlier media reports, the Norway-based maker of cancer drugs said Bayer would acquire it for 336 krone per share, equal to about $55.05. The company's share price increased to 349.40 krone, or $57.21 per share, in late-afternoon trading Tuesday on the Oslo Stock Exchange.

MINNEAPOLIS — Target Corp. has donated $50,000 to assist in relief efforts in the Midwest following a devastating tornado outbreak there earlier this month.

The mass-merchandise retailer's donation includes $45,000 in cash to the American Red Cross and $5,000 to non-profit organizations for relief efforts in Illinois, Indiana, Kentucky, Michigan and Missouri. In addition, all Target stores in affected areas will remain open.