Financial News

MINNEAPOLIS — Target appears to have salvaged its fourth-quarter sales results with a 4.3% same-store sales increase in January to offset a disappointing 1.6% increase in December and a 1.8% increase in November.

CAMP HILL, Pa. — Rite Aid's comps increased 2.2% for the month of January, compared with January 2011, the company said Thursday.

Announcing results of the four-week period that ended Saturday, the retail pharmacy chain said January front-end comps increased 2.7%, while pharmacy comps increased 2.1%, including a negative effect of 230 basis points from new generic introductions. Prescription count at comparable stores increased by 1.6%.

DEERFIELD, Ill. — Walgreens on Thursday inserted another piece into its comprehensive healthcare offering, just in time for the PBM selling season, with the acquisition of BioScrip's community specialty pharmacies.

Walgreens and BioScrip announced that they have entered into a definitive agreement under which Walgreens will acquire certain assets of BioScrip's community specialty pharmacies and centralized specialty and mail-service pharmacy businesses for a total deal value of approximately $225 million.

HAYWARD, Calif. — Impax Pharmaceuticals said Wednesday that it obtained exclusive U.S. commercial rights to a drug for migraine headaches made by AstraZeneca.

JACKSONVILLE, Fla. — Winn-Dixie on Tuesday announced it will hold a special meeting of shareholders at Winn-Dixie’s headquarters on March 9 to vote on the proposed Bi-Lo buyout of the southeastern grocer.

Under the terms of that definitive agreement, Bi-Lo will acquire all of the outstanding shares of Winn-Dixie stock in the merger at $9.50 in cash per share of Winn-Dixie common stock, representing a premium of approximately 75% over the closing price of Winn-Dixie common stock on Dec. 16.

WASHINGTON, — Consumers are set to pull out all the stops this Valentine’s Day, with the average person shelling out $126.03, up 8.5% over last year, according to the National Retail Federation’s "2012 Valentine’s Day Consumer Intentions and Actions" survey, conducted by BIGinsight. Total spending is expected to reach $17.6 billion.

TORONTO — In an effort to strengthen its focus on its corporate-owned Rexall and Rexall/Pharma Plus store network, Katz Group Canada has signed a definitive agreement to sell its banner pharmacy business, Drug Trading, and its franchise pharmacy business, Medicine Shoppe Canada, to McKesson for about CAD $920 million in cash.

The transaction, which is subject to customary closing conditions, including the receipt of Canadian regulatory clearances, is expected to close in the first half of 2012.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals said it would not move forward in its pursuit of Ista Pharmaceuticals due to lack of progress.

The drug maker said it withdrew the acquisition offer of Ista, valued at $7.50 per share in cash. Valeant previously said that the offer would remain open until Jan. 31.