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Walgreens logoEven when the economy struggles, people still need medicine, diapers, personal-care products, and large boxes of candy. This explains the continued sales growth at Walgreen Co. (NYSE: WAG), which saw same-store sales in February jump 8.3%. Strong Valentine's Day sales and a particularly violent flu season helped boost demand at the pharmaceutical retailer.

Excluding the extra shopping day due to Leap Year, same-store sales were up 4.2%. Same-store sales in the chain's pharmacies rose 8.3% and climbed 4.1% excluding February 29. Sales from the pharmacy were modestly impacted by the transition of popular allergy medicine Zyrtec to an over-the-counter version. In turn, the appearance of Zyrtec on the regular shelves positively impacted general-merchandise (or front-end) sales, which rose 8.2% in February, or 4.6% excluding the extra shopping day.

The impact of these sales on the bottom line will be more apparent late this month; WAG is currently scheduled to report its quarterly earnings results on March 24. According to First Call estimates, Wall Street is expecting per-share results of 67 cents, or two pennies better than year-ago figures.

In late-morning trading, WAG shares have risen 0.8%. The shares have shown recent strength, tacking on nearly 13% since their late-January nadir.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Walgreen Co. (WAG) sales on the rise originally appeared on BloggingStocks on Tue, 04 Mar 2008 12:35:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>drugstoreearningsinthenewspharmacyretailerssalesWAGZyrtecTue, 04 Mar 2008 12:35:00 EST<![CDATA[Pfizer shakes up drug development staffing]]>http://www.bloggingstocks.com/2007/05/21/pfizer-shakes-up-drug-development-staffing/http://www.bloggingstocks.com/2007/05/21/pfizer-shakes-up-drug-development-staffing/http://www.bloggingstocks.com/2007/05/21/pfizer-shakes-up-drug-development-staffing/#commentsFiled under: , ,

The boomer generation is limping toward retirement with pockets full of cash and bodies full of ailments, putting any drug company with top-drawer medications and solid patents in line for a windfall. Today's shakeup at Pfizer's (NYSE: PFE) drug-pipeline management, with the announced retirement of R&D president John LaMattina [subscription required], suggests the company isn't happy with the lack of success in restocking its shelves.

Pfizer, the largest pharmaceutical company in the world, realized 64% of its 2006 revenue from its top nine sellers. Unfortunately, the patents for those brands are rapidly expiring:

  • Norvasc: 2007
  • Zyrtec: 2007
  • Lipitor: 2010
  • Viagra: 2012
  • Detrol: 2012
  • Cardura X: 2008

Continue reading Pfizer shakes up drug development staffing

Pfizer shakes up drug development staffing originally appeared on BloggingStocks on Mon, 21 May 2007 14:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>carduradetroldrug companiesdrug companisDrugCompaniesDrugCompanisJeffrey KindlerJeffreyKindlerKindlerlijpitorMcMattinanorvascpfepfizerpharmaceuticalsviagrazyrtecMon, 21 May 2007 14:01:00 EST