Financial News

LAKELAND, Fla. — Publix on Friday recorded fiscal 2012 sales of $27.5 billion, up 1.9%. However, 2012 year-end sales included a 52-week period, versus 2011 year-end sales that were tracked over a 53-week period. Excluding that extra week, sales for 2012 would have been up by 3.8%. Same-store sales were up 2.2% for the year. 

SEATTLE — A growing beauty brand led by a former executive from Starbucks has secured more than $10 million in financing from a Silicon Valley venture capital firm.

Julep Beauty, founded by Jane Park, said it received $10.3 million in Series B financing from Andreessen Horowitz, led by former Netscape co-founder Marc Andreessen. Maveron — the venture capital firm co-founded by investor Dan Levitan and Starbucks chairman and CEO Howard Schultz — participated in the funding.

NEW YORK — Publix may join Royal Ahold later this month in making a bid for the more than 200 Harris Teeter supermarkets, according to a report published Friday by Bloomberg, citing people with knowledge of the situation. 

Virginia and North Carolina would represent new markets for Publix if the Florida-based grocer acquired Harris Teeter. Publix has already marked North Carolina for expansion with plans to open two stores in the state in 2014. 

AMSTERDAM — Keeping stores open during Hurricane Sandy was one of the factors that contributed to an increase in total store sales and comps in the fourth quarter and fiscal year 2012 for Ahold USA, the supermarket operator's Dutch parent company said Thursday.

Ahold attributed its 4.3% increase in sales in the fourth quarter, to $6.1 billion, partially to the Hurricane Sandy effort. The quarter also saw comps increase by 2.4%, while full year sales were $25.8 billion, a 3.1% over 2011, as comps increased by 1.4%.

PITTSBURGH — Mylan has bought a manufacturer of generic injectables for $1.6 billion, the company said.

Mylan announced the acquisition of Bangalore, India-based Agila from Strides Arcolab, which Mylan said would allow it to strengthen its injectables business and enter new markets around the world.

Are doctors needlessly raising the costs of America's healthcare system through their prescribing habits? Absolutely, say researchers. A new report appearing in the Jan. 7 issue of JAMA Internal Medicine highlighted the powerful role played by branded drug advertising on consumer preferences and physicians' prescribing habits, and asserted that many doctors ignore the cost-saving benefits of generic drugs when writing prescriptions by acceding to patients' wishes.

CAMP HILL, Pa. — Rite Aid's philanthropic arm has donated $15,000 to an organization that works with universities to develop social justice projects.

The Rite Aid Foundation announced the donation of the grant to Impact Alabama, based in Birmingham, Ala., which plans to use the grant to expand FocusFirst, a vision-screening program for children in Head Start classrooms and lower-income daycares across the state. The foundation previously awarded the group $15,000 in 2010.

Biosimilar medicines have been approved and routinely prescribed in Europe for nearly seven years, and creation of a clear pathway for Food and Drug Administration review and approval of generic versions of bioengineered drugs was enshrined into law in the United States with the passage of the Patient Protection and Affordable Care Act nearly three years ago. But IMS Health and other industry experts agree it could still be years before biosimilars are available to pharmacies and patients in this country.