Financial News

ISSAQUAH, Wash. — Growth in sales and membership income at Costco helped the company produce earnings per share of 95 cents and beat analysts’ estimates by 2 cents.

OSAKA, Japan — Japanese drug maker Takeda Pharmaceutical is selling its generics business to India-based Sun Pharmaceutical Industries, Takeda said Monday.

Takeda said it would sell URL Pharma, through U.S. subsidiary Takeda Pharmaceuticals USA, to Sun subsidiary Caraco Pharmaceutical Labs while retaining control of the gout treatment Colcrys (colchicine). Takeda acquired rights to Colcrys when it bought URL Pharma for $800 million in June 2012; financial terms of the current deal with Caraco were not disclosed.

NEW YORK — Kroger and Walmart may be looking to buy up assets from bankrupt food company Hostess Brands, according to published reports.

SEATTLE — A former executive of Car Toys has been appointed CFO of Bartell Drugs, the Seattle-based retail pharmacy chain said.

Rob Jensen has been appointed CFO of Bartell, where he will provide financial analysis and support for the 58-store chain, including supervisory oversight of accounting and finance, information technology, loss prevention and Health Insurance Portability and Accountability Act operations.

WASHINGTON — According to the National Retail Federation, eager holiday shoppers helped November retail sales — excluding automobiles, gas stations and restaurants — increase 0.8% seasonally adjusted from October and increase 4.4% unadjusted year-over-year. The NRF also expects holiday sales to grow 4.1% over the last holiday season.

CHICAGO — Holiday shoppers continued their quest for the perfect gifts during the week ended Dec. 8, according to ShopperTrak. Consumer activity drove a 7.8% increase in foot traffic and 6.5% increase in sales from the previous week.

CHICAGO — Bausch & Lomb is actively exploring a sale that could command upward of $10 billion, according to a report in The Wall Street Journal published Tuesday. 

According to the report, Bausch & Lomb has been entertaining informal inquiries since the announcement that the company may soon issue an initial public offering. If no buyer materializes, the eye care company still plans to pursue an IPO, the report noted.

LAUSANNE, Switzerland — Swiss skin drug maker Galderma Pharma will acquire another Swiss drug maker also focused on treatments for skin conditions, Galderma said.

Based in Egerkingen, Switzerland, Spirig makes treatments for such conditions as solar damage and skin barrier function impairment, as well as treatments for such precancerous conditions as actinic keratosis. Financial terms of the deal were not disclosed, though it was noted that Spirig had sales of about $106 million in 2011. The global corporate headquarters of Galderma will remain in Lausanne, Switzerland.