Financial News

NEW YORK — Healthcare market research firm IMS Health will buy privately held market research firm SDI Health, IMS said.

Terms of the transaction were not disclosed, but the deal would bring together two of the leading healthcare analytics companies. In terms of drug industry analytics, IMS focuses on drug sales and dispensed prescriptions, while SDI provides data on prescriptions written by physicians and other prescribers.

WASHINGTON — Retail sales rose for a sixth consecutive month in December, according to the U.S. Census Bureau.

Sales rose 0.6% from the prior month, the Census Bureau reported Friday. However, the increase pushed sales for all of 2010 up 6.7%, the largest annual increase since 1999. Excluding autos, retail sales rose 0.5% last month.

LONDON — Drug maker GlaxoSmithKline will take a legal charge of $3.4 billion related to its promotion of a controversial diabetes drug.

The British company said the charge related to an investigation by the U.S. Attorney’s Office for the District of Colorado regarding sales and promotion of the drug Avandia (rosiglitazone) in spite of reports of the risk of heart attacks in patients taking it.

HOFFMAN ESTATES, Ill. — Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.

For the full year, the company expects a net income of $210 million, with a fourth-quarter income expectation of between $370 million and $450 million, offsetting the company’s past two quarterly losses.

The company also posted up-to-date comparable-store sales for both its Sears Domestic and Kmart stores.

For the quarter-to-date, comparable-store sales for its Sears stores were down 5.3%, with Kmart stores seeing an increase of 3.4%.

DEERFIELD, Ill. — Walgreens' board of directors declared a 27.3% of its quarterly dividend for shareholders of record Feb. 18.

The drug store chain said Thursday that its dividend now totaled 17.5 cents per share. Walgreens has paid a dividend in 313 straight quarters (78 years) and has raised its dividend for 35 consecutive years.

The dividend is payable March 12.

CINCINNATI — Specialty pharmacy and home infusion provider CarePoint Partners has acquired a Houston-based infusion company that it said would make it a leader in the Texas market.

CarePoint announced the acquisition of ivA Lifetec, a home-infusion pharmacy that specializes in infusions for children, as well as nursing. Financial details were not disclosed. CarePoint said Lifetec was its 10th acquisition since December 2007, and that it now provides home infusion and specialty services in seven states.

MONTVALE, N.J. — Bankrupt grocer A&P narrowed its net loss during the third quarter and executives expressed optimism as it has access to a "significant amount of liquidity" and is forging ahead with its turnaround plan.

As previously reported, the 395-store supermarket chain filed for bankruptcy on Dec. 12. Furthermore, the court approved $800 million in debtor-in-possession financing, which now is fully accessible by the company.

MINNEAPOLIS — Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years.

The company announced that it has agreed to pay C$1.83 billion to purchase from Zellers, a subsidiary of the Hudson's Bay Co., the leasehold interests in up to 220 sites currently operated by Zellers. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.