Financial News

LOS ANGELES — Curls hair care founder Mahisha Dellinger celebrated a decade of curl power with a star-studded blowout bash at the Rolling Stone Lounge in Hollywood, during which she announced the acquisition of the Kynx hair care collection.

DEERFIELD, Ill. — Takeda Pharmaceutical will acquire privately owned drug maker URL Pharma for $800 million, the companies said Wednesday.

Takeda announced that it would acquire Philadelphia-based URL through a U.S. subsidiary for the upfront payment plus future milestone payments. Takeda said it expected the acquisition to contribute "significantly" to its sales and profits starting in fiscal year 2013.

MINNEAPOLIS — Looking ahead to fiscal 2013, Supervalu will continue its focus on "hyperlocal" merchandising, value-driven pricing and its transformational remodels to build on its momentum coming out of fiscal 2012. "For us momentum is just starting to build," Craig Herkert, Supervalu president and CEO, told analysts Tuesday morning. "We enter the new fiscal year as a leaner company together with a business strategy" that will drive results, he added.

THOUSAND OAKS, Calif. — Biotech manufacturer Amgen will acquire the private South San Francisco, Calif.-based drug developer Kai Pharmaceuticals for $315 million, the companies said Tuesday.

The deal includes the acquisition of KAI-4169, an experimental drug Kai is developing for secondary hyperparathyroidism in patients with chronic kidney disease who are on dialysis. Amgen has provided a loan to fund phase-3 clinical studies of the drug and will acquire rights to it worldwide, except for Japan.

NEW YORK — Investment firm J. Burke Capital Partners has increased its strategic investment into Leading Edge Innovations, a Branchburg, N.J., company that develops cosmetic formulas in skin care, sun care, hair care and other related categories for use in over-the-counter drugs and personal care products.

MINNEAPOLIS — Target has committed $15,000 in cash and gift cards to assist the Texas communities impacted by recent tornadoes.

Cash donations will be distributed to The Salvation Army and the American Red Cross. In addition, Target has donated gift cards to other local nonprofit organizations for such essentials as water and food.

ISSAQUAH, Wash. — Sales for the month of March increased 10% for Costco to $9.13 billion, the wholesaler reported Thursday.

For the five weeks ended Apr. 1, comparable-store sales for the month were 6%; U.S. comps were 6% and international comps were 7%. Excluding inflation of gasoline prices and foreign currencies comparable sales for these periods were 6%, including 5% for the United States and 9% for international.

INDIANAPOLIS — Lilly Diabetes has donated funds to the Diabetes Scholars Foundation, the drug maker announced Wednesday.

Lilly Diabetes said the $100,000 contribution will be donated to the foundation's scholarship fund, which supports the organization's mission to empower young people with Type 1 diabetes. The donation will be used to fund college scholarships for students with Type 1 diabetes, as well as conference scholarships for families to attend the 2012 Children with Diabetes Friends for Life conference in Orlando, Fla.