Financial News

Experts said that despite competition from electronic cards and rising postal fees, there still is a future for the paper greeting card category. Sean O’Malley, an analyst for Wedge Capital, estimated the industry saw 1% unit volume growth last year. He estimated 2011 greeting card sales were $2.5 billion to $3 billion. Nearly 80% of category sales are driven by women ages 30 to 50 years whose “habits die hard,” according to O’Malley. Premium cards and value cards are performing best.

Asthma has been becoming more relevant in the nonprescription aisles of late. Even as Armstrong Pharmaceuticals phases out what was an almost $100 million-and-growing brand in Primatene Mist 
— the Food and Drug Administration has removed any inhalers containing 
chlorofluorocarbons from the market — homeopathic supplier King Bio is currently presenting an alternative in its AsthmaCare product.


Some people swear by it. Others doubt it. What’s undeniable, however, is that homeopathic medicine sales were up 15.7% in 2011 to $173 million in natural supermarkets (excluding Whole Foods) and food, drug and mass (excluding Walmart), according to SPINSscan Natural. And with media reports of recalls, dangerous and lethal side effects, counterfeiting and contamination, the homeopathic school of medicine founded by Samuel Hahnemann in 1800 is making a comeback.


After strong growth, the cereal/granola bar category is showing slower growth. A report on “Food Bars in the U.S.” by Packaged Facts estimated U.S. sales of 
cereal/granola bars at $3.1 billion in 2011, with flat sales for the overall category, despite some growth in premium granola bars. Experian Simmons data showed that 40% of adults use cereal/granola bar products overall, said David Sprinkle, research director at Packaged Facts.

As of the beginning of February, the cough-cold season had yet to materialize and illness levels were only just beginning to climb. If that’s the case, then an expected illness peak in late February/early March would make the 2011-2012 cough, cold and flu season one of the later-peaking seasons in recent years.


As of Jan. 21, overall incidence of upper respiratory illness this season was down 7.5% according to IMS Health, as compared with the 2010-2011 season.


As of early February, incidence of cough-cold and influenza still was relatively low, but the season has yet to peak and that means there could be demand for symptomatic relief through March.


“Fever is just starting to move,” noted Scott Hanslip, director of sales for IMS Consumer Health, in the first week of February. However, overall incidence of upper respiratory illness was down 7.5% from September through Jan. 21, 
according to IMS Health tracking.


MEMPHIS, Tenn. — Fred's on Thursday announced an increase in the company's quarterly cash dividend by 20% to 6 cents per share, and an increase in the company's stock repurchase program to an additional 3.6 million shares, or 10% of the currently outstanding shares.

CAMBRIDGE, Mass. — Drug maker Biogen Idec plans to spend up to more than $560 million to buy a company developing treatments for organ failure.

Biogen Idec announced that it would pay $75 million upfront, plus up to $487.5 million in milestone payments to acquire privately-owned biotech company Stromedix. Stromedix's lead drug candidate is STX-100, a monoclonal antibody entering phase-2 trials as a potential treatment for idiopathic pulmonary fibrosis, a disease that causes difficulty breathing due to scarring of the lungs and is almost always fatal.