Financial News

ISSAQUAH, Wash. — Costco is off to a good start in 2012, with high increases in second-quarter sales and earnings.

The company reported that net sales for the second quarter of fiscal 2012 increased 10% to $22.5 billion, from $20.5 billion last year. Total comparable-store sales for the quarter increased 8%, consisting of an 8% increase at both U.S. and international clubs. Excluding the impact of fuel, comparable-store sales were up 7%, consisting of a 7% increase at U.S. clubs and a 10% increase at international clubs.

CAMP HILL, Pa. — Rite Aid has closed a bond offering that it issued earlier this month to refinance its debt, the company said Monday.

Rite Aid said the proceeds of its offering of $481 million in 9.25% senior notes due 2020 would be used to buy back its 8.625% senior notes due 2015.

The retail pharmacy chain announced the offering on Feb. 14. The offering marked the first time that the company was able to tap the unsecured debt market in five years. Rite Aid has carried a heavy debt burden since its 2007 acquisition of the Brooks and Eckerd pharmacy chains.

NEW YORK — One of the world's largest pharmaceutical companies has acquired the maker and distributor of Emergen-C products.

Pfizer on Monday announced its acquisition of Alacer, a privately held company best known for its vitamin C supplement products. Financial terms of the transaction were not disclosed, but Pfizer did note that the deal would complement its Consumer Healthcare division.

WOODCLIFF LAKE, N.J. — Generic drug maker Par Pharmaceutical has completed its acquisition of an Indian drug company, Par said.

Par announced that it had completed its $20.5 million acquisition of Chennai, India-based Edict Pharmaceuticals.

Edict specializes in oral solid drugs and currently has 11 regulatory approval applications under review at the Food and Drug Administration.

Interested in this topic? Sign up for our weekly DSN Collaborative Care e-newsletter.

MINNEAPOLIS — Target overcame modest fourth-quarter sales growth to report profits that exceeded its earnings guidance and also provided a better-than-expected outlook for 2012.

PLEASANTON, Calif. — Pharmacy and identical-store sales were identified as positives for Safeway, which discussed its fourth-quarter results with analysts on Thursday.

SOUDERTON, Pa. — A Northern Ireland pharmaceutical company has acquired a chemotherapy agent from Gilead.

Galen said it has acquired DaunoXome (daunorubicin citrate liposome injection), an anthracycline chemotherapy agent that was first approved in the United States in 1996, and is indicated as a first-line cytotoxic therapy for advanced HIV-associated Kaposi’s sarcoma. Galen said its wholly owned subsidiary, Galen US, will market the drug in the United States. DaunoXome will be made available through wholesalers in the United States.

ST. LOUIS — Express Scripts chairman and CEO George Paz on Thursday played down the impact of Walgreens' exit from its pharmacy network.