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Monday, February 25, 2013

Reckitt loses bid to change U.S. drug packaging rules, (NASDAQ: PLCE)

The U.S. drugs regulator has rejected goods manufacturer Reckitt Benckiser's call for stricter packaging for its heroin addiction treatment, instead approving generic production for the drug.The British company's pharmaceuticals division makes most of its profit from Suboxone, a treatment containing buprenorphine, for recovering heroin addicts.Last year, Reckitt voluntarily withdrew the sale of Suboxone tablets in the U.S. in favour of an individually sealed film version, citing a higher risk of children mistakenly getting their hands on the tablets.With the entry of generic competitors, it has been campaigning to persuade the U.S. regulator, the Food and Drug Administration, to adopt more stringent packaging standards and better education for all manufacturers of the drug.

The Children's Place Retail Stores, Inc. operates as a specialty retailer of apparel and accessories for children. Shares of PLCE remained unchanged at $47.96. In the past year, the shares have traded as low as $42.21 and as high as $62.24. On average, 433639 shares of PLCE exchange hands on a given day and today's volume is recorded at 0.