Financial News

FRISCO, Texas — Assured Pharmacy on Wednesday reported that its same-store sales during the month of December rose more than 12% from the year-ago period.

The specialty pharmacy operator said that same-store sales totaled $1.5 million (or $70,464 per business day), compared with $1.3 million ($62,714 per business day) in December 2009, a 12.4% increase.

The company also announced that it reached the 10,000 prescriptions filled milestone for the first time during the month.

ISSAQUAH, Wash. — Sales at club-based mass merchandiser Costco increased by 11% to $20.45 billion during the second quarter of fiscal year 2011, according to an earnings report Wednesday. For the first half of fiscal 2011, net sales increased to nearly $39.3 billion, from about $35.3 billion last year.

The figures include sales from Costco’s 50% owned joint venture in Mexico, and sales in that country accounted for about three percentage points of the quarterly and year-to-date sales.

WOONSOCKET, R.I., and RYE BROOK, N.Y. — In connection with the previously announced $1.25 billion acquisition of the Medicare Part D business of Universal American by CVS Caremark, both companies have announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Act.

The transaction is expected to close by the end of second quarter 2011 and is subject to customary closing conditions, including approval of Universal American shareholders and state regulatory approvals.

ATLANTA — Three years after purchasing a minority stake in Honest Tea, an organic bottled tea company, Coca-Cola said it has exercised its option to acquire the remaining portion of the company.

Financial terms of the transaction were not disclosed, but Coca-Cola did note that Honest Tea would continue its operations outside of Bethesda, Md., and will continue to operate as a stand-alone business. Honest Tea will be led by current CEO Seth Goldman, his management team and current Honest Tea employees.

LANGHORNE, Pa. — Insight Pharmaceuticals is strengthening its portfolio of over-the-counter products with its acquisition of a popular at-home pregnancy test.

Insight said that e.p.t. will join other Insight brands, including Sucrets, Nix, Bonine and Gentle Naturals. As the first FDA-approved, commercially available home pregnancy test, e.p.t. aligns with Insight's strategy to build "a significant portfolio of OTC and personal care products," Insight's CEO Gary Downing said.

CAMP HILL, Pa. — Rite Aid has regained compliance with the New York Stock Exchange’s share price-listing requirements, the retail pharmacy chain said Tuesday.

The 4,700-store chain regained compliance after its closing share price and average closing share price for the 30 days ended Monday were both above $1.

Companies that trade on the exchange are threatened with delisting if the average closing price of their shares falls below $1 over a consecutive 30-day trading period.

NEW YORK — The flu may drive consumers to bed, but drug store sales are expected to benefit from an increase in flu activity, according to a Credit Suisse research note.

Credit Suisse research analyst Edward Kelly on Monday noted that as Walgreens and Rite Aid would report their monthly sales on March 3, comparable pharmacy sales would be driven by increased flu activity.

LISLE, Ill. — Pharmacy benefit manager SXC Health Solutions had revenues of $1.95 billion in 2010, compared with $1.44 billion in 2009, according to an earnings report released Thursday.

Profit for the year was $64.7 million, compared with $46.1 million in 2009.