Financial News

AMITYVILLE, N.Y. — Generic drug maker Hi-Tech Pharmacal has acquired the rights to a drug for mouth infections, the company said Monday.

Hi-Tech said it acquired nystatin oral suspension from Bausch & Lomb for an undisclosed sum. The drug is used to treat candidiasis, a fungal infection, in the mouth.

The market for the drug is $23 million, according to IMS Health.

NEW YORK — Walmart announced that it has donated $2 million to Dress for Success, a nonprofit that helps females get back into the work force by providing clothes, interview preparation and other tools needed to land a job. The announcement was made at the third annual Dress for Success day of service in New York.

BELLEVUE, Wash. — Coinstar will help boost the retail presence of a self-service kiosks provider through a new deal.

NEW YORK — Food prices reached peak levels last month, according to the Labor Department's Producer Price Index.

The index noted that the month of February experienced a surge of 3.9% in food prices, the largest increase since a 4.2% climb reported in November 1974. PPI also noted that about 70% of the February rise can be attributed to higher prices for fresh and dry vegetables, which jumped 48.7%.

MINNEAPOLIS — Target has made a donation to Save the Children to assist with Japan’s earthquake and tsunami relief efforts.

The retailer said it has donated $500,000 to the cause.

Target said it encourages shoppers and team members to visit the Save the Children website to learn more about how they can help victims of the earthquake and tsunami.

PITTSBURGH — Giant Eagle was named the largest Pittsburgh-area private company, with 2010 revenues of $8.6 billion, by the Pittsburgh Business Times in a report published Friday.

The Pittsburgh Business Times ranks the largest Pittsburgh-area private companies by 2010 revenue. Coming in at No. 6 on the list was Gateway Health Plan, with $1.4 billion in revenue. GNC ranked No. 4 with $1.8 billion in 2010 revenue.

NEW YORK — Rising gas prices will prompt consumers to be more mindful of their spending habits, according to Nielsen projections.

In the United States, Nielsen noted, households could be paying an extra $52.50 with a 50-cent increase in gas prices, $105 with a $1 increase and $210 if prices jump up $2, prompting consumers to tighten their wallets. This will mirror historic trends, which include increased trip compression, more value-conscious shopping alternatives and increased use of coupons, Nielsen said.

BATTLE CREEK, Mich. — Kellogg's announced its donation to the American Red Cross to support disaster relief efforts in Japan.

The funds, which total $500,000, include equal amounts of cash and product, and are designated to support the efforts of the Japanese Red Cross Society. The cash donation is being made by Kellogg's Corporate Citizenship Fund.