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Lovell Drugs signs supply deal for medicinal cannabis

Lovell Drugs signs supply deal for medicinal cannabis

TORONTO — Canada’s Lovell Drugs has entered into a definitive agreement with Maricann Group Inc. to be the exclusive supplier of medicinal cannabis to its pharmacies. Maricann said that Lovell has begun dispensing medical marijuana to its patients, registering and filling its first medicinal cannabis prescription registered and fulfilled on Dec. 1. The drug chain

Golinkin departs Rite Aid subsidiaries

PHOENIX — Web Golinkin, chief executive officer of Rite Aid Corp. subsidiaries RediClinic and Health Dialog, has left the companies to become CEO of FastMed Urgent Care. FastMed said Golinkin will oversee its more than 100 walk-in urgent care clinics in Arizona, Texas and North Carolina. FastMed clinics provide a range of acute/episodic and preventive

AARP: Retail Rx price growth outpaces inflation

AARP: Retail Rx price growth outpaces inflation

WASHINGTON — Retail prices for prescription drugs widely used by older Americans have risen more than 50 times faster than the inflation rate, an AARP analysis found. For 768 prescription drugs commonly used by older adults, retail prices surged an average of 6.4% in 2015, outpacing the general inflation rate of 0.1%, according to the

WBA becomes stakeholder in PharMerica

WBA becomes stakeholder in PharMerica

LOUISVILLE, Ky. — Walgreens Boots Alliance (WBA) is now a stakeholder in national specialty pharmacy operator PharMerica Corp. PharMerica on Wednesday announced the close of its acquisition by global investment firm Kohlberg Kravis Roberts (KKR). Under the $1.4 billion deal, unveiled in early August, WBA holds a minority share in PharMerica. Louisville, Ky.-based PharMerica serves

U.S. health care spending growth slows

U.S. health care spending growth slows

BETHESDA, Md. — Growth in prescription drug expenditures tailed off despite an overall gain in 2016 U.S. health care spending, according to the Centers for Medicare and Medicaid Services (CMS). Last year, U.S. health care spending totaled $3.3 trillion, up 4.3%, compared with growth of 5.8% in 2015 and 5.1% in 2014, according to a

Canada plans changes to drug pricing rules

Canada plans changes to drug pricing rules

OTTAWA — The Canadian government is stepping up efforts to rein in the cost of prescription drugs. At the start of this month, Canada proposed the first major update to the Patented Medicines Regulations in more than 20 years. The regulations, along with the Patent Act, set guidelines for determining if the price of a

CVS Health to buy Aetna for $69 billion

CVS Health to buy Aetna for $69 billion

WOONSOCKET, R.I., and HARTFORD, Conn. — Following mounting speculation over the past month, CVS Health has unveiled a cash-and stock-deal to acquire health insurer Aetna Inc. for $69 billion. CVS and Aetna said Sunday evening that under the merger pact, Aetna shareholders will receive about $207 per share, including $145 in cash and 0.8378 CVS

First Rite Aid stores go to Walgreens

First Rite Aid stores go to Walgreens

CAMP HILL, Pa. — Walgreens Boots Alliance (WBA) has taken over the first group of Rite Aid stores as part of the asset sale agreement the companies unveiled in September. Rite Aid Corp. said late Monday that it has transferred 97 stores and related assets to WBA. This completes the pilot closing and first subsequent

Teva unveils reorganization plan

Teva unveils reorganization plan

JERUSALEM, Israel — Just over two months after naming a new chief executive officer, Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, is reorganizing its business and leadership structure. Teva said Monday that it’s integrating its drug businesses into one commercial organization, and there will no longer be two separate global groups

Analysts size up Amazon’s pharmacy opportunity

Analysts size up Amazon’s pharmacy opportunity

NEW YORK — Pharmacy stands as a sizable growth opportunity for Amazon, and its avenues for market entry include acquisitions, with Rite Aid Corp. and Diplomat Pharmacy Inc. among potential targets, according to Cowen analysts John Blackledge and Charles Rhyee. Cowen on Tuesday released an in-depth look at a potential Amazon pharmacy play in a

Loblaw to boost grocery, pharmacy retail analytics access

Loblaw to boost grocery, pharmacy retail analytics access

PLANO, Texas — Loblaw Cos. has tapped Alliance Data Systems Corp. subsidiary Precima to help sharpen its grocery and pharmacy analytics. Under a new long-term agreement, Precima will work with Loblaw to develop a single-access retail analytics portal to provide customer, marketing and merchandising insights for grocery and pharmacy retail, Alliance Data said Tuesday. The

AmerisourceBergen to buy H.D. Smith

AmerisourceBergen to buy H.D. Smith

VALLEY FORGE, Pa. — AmerisourceBergen Corp. plans to acquire fellow pharmaceutical distributor H.D. Smith for $815 million in cash. The companies said late Monday that the transaction, pending regulatory review and other closing conditions, is expected to close in early 2018. Springfield, Ill.-based H. D. Smith, the nation’s largest independent wholesaler, also operates CompleteCare Pharmacy,

Ashworth promoted by WBA

Ashworth promoted by WBA

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has promoted Richard Ashworth to president of operations at Walgreens, a newly created ­position. With the move, Ashworth adds responsibilities in the health care commercial, IT and supply chain areas at Walgreens in addition to the duties in his previous position as president of pharmacy and retail

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