Congress reintroduces DIR fee legislation

Congress reintroduces DIR fee legislation

WASHINGTON — Reps. Morgan Griffith (R., Va.) and Peter Welch (D., Vt.) have reintroduced the Improving Transparency and Accuracy in Medicare Part D Spending Act (H.R. 1038), which community pharmacies say would squelch a growing burden: retroactive direct and indirect remuneration (DIR) fees. The bill, introduced Wednesday in the House of Representatives, would ban the application

Shakeup in the U.S. health insurance market

Shakeup in the U.S. health insurance market

NEW YORK — More turbulence has hit the health insurance sector with the apparent breakup of the Anthem-Cigna merger and Humana Inc.’s plan to pull out of the exchange market. Anthem Inc. on Wednesday said it has filed a lawsuit in the Delaware Court of Chancery against Cigna Corp., which yesterday afternoon announced its aim

New name for Generic Pharmaceutical Association

New name for Generic Pharmaceutical Association

WASHINGTON — The Generic Pharmaceutical Association (GPhA), which represents manufacturers of generic drugs and biosimilars, has changed its name to the Association for Accessible Medicines (AAM). The association said Tuesday that the new name better reflects its mission: to make medications more accessible to the people who need them. As GPhA, the trade group had steadfastly

Aetna, Humana terminate $37 billion merger

Aetna, Humana terminate $37 billion merger

HARTFORD, Conn., and LOUISVILLE, Ky. — After being blocked by a federal court, Aetna Inc. and Humana Inc. have decided to terminate their $37 billion merger deal. The health insurance giants said Tuesday that, with the move, Aetna will pay Humana a $1 billion breakup fee. Aetna said it also has ended its agreement to

CVS Health closes fiscal year on high note

CVS Health closes fiscal year on high note

WOONSOCKET, R.I. — CVS Health topped Wall Street’s earnings-per-share forecast and, driven largely by its PBM unit, saw double-digit sales gains for the 2016 fourth quarter and full year. CVS said Thursday that for the fourth quarter ended Dec. 31, revenue totaled $45.97 billion, up 11.7% from $41.15 billion a year earlier. For the 2016

Teva CEO Erez Vigodman steps down

Teva CEO Erez Vigodman steps down

JERUSALEM, Israel — Erez Vigodman is stepping down as president and chief executive officer of Teva Pharmaceutical Industries Ltd. Teva said late Monday that it has appointed chairman Yitzhak Peterburg as interim president and CEO, effective immediately. In addition, Teva’s board of directors has elected Sol Barer, a board member since January 2015, as chairman.

Tums plans Super Bowl ‘quartertime show’ on social media

Tums plans Super Bowl ‘quartertime show’ on social media

WARREN, N.J. — Antacid brand Tums will get its own spotlight during the Super Bowl with a “quartertime show” to help football fans tackle heartburn as they munch while watching the NFL’s big game. GlaxoSmithKline Consumer Healthcare said Thursday that fans can tune in to the Tums Quartertime Show on Facebook, Twitter and YouTube after

Costco inks 90-day scripts pact with Rite Aid’s EnvisionRx

Costco inks 90-day scripts pact with Rite Aid’s EnvisionRx

TWINSBURG, Ohio, and ISSAQUAH, Wash. — Costco Wholesale Corp. plans to offer a 90-day maintenance medication program through its pharmacies under an agreement with EnvisionRx, a pharmacy benefit management subsidiary of Rite Aid Corp. The companies said Thursday that Costco will participate in EnvisionRx’s Rx90 prescription drug program. Rx90 enables patients to fill 90-day prescriptions

Fred’s finishes fiscal year with sales declines

Fred’s finishes fiscal year with sales declines

MEMPHIS, Tenn. — Sales continued to slide at Fred’s Inc., as the discount and pharmacy retailer reported decreases for its fiscal 2016 fourth quarter and full year and January 2017. Fred’s said Thursday that January sales totaled $148.1 million, down 5.6% from $156.9 million a year earlier. Same-store sales for the month fell 4.8%, compared

Walgreens Boots Alliance teams with ad giant WPP

Walgreens Boots Alliance teams with ad giant WPP

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) Inc. has teamed up with global advertising and public relations giant WPP plc in a wide-ranging marketing and communications partnership for its businesses and brands. WBA said late Tuesday that WPP will operate and develop multiple marketing and communications channels for its retail and wholesale divisions and its

Fred’s: Deal to buy Rite Aid stores still in effect

Fred’s: Deal to buy Rite Aid stores still in effect

MEMPHIS, Tenn. — Fred’s Inc. has reaffirmed its $950 million deal to buy 865 Rite Aid stores to be divested for antitrust clearance of Walgreens Boots Alliance’s pending acquisition of Rite Aid Corp. Fred’s said late Monday that “the asset purchase agreement it entered into on Dec. 19, 2016, with Walgreens and Rite Aid remains

Walgreens-Rite Aid merger deal date extended

Walgreens-Rite Aid merger deal date extended

DEERFIELD, Ill., CAMP HILL, Pa. — Walgreens Boots Alliance (WBA) Inc. and Rite Aid Corp. have agreed to extend the end date for their merger deal and lower the offer price. The companies said Monday that the deal end date has been moved to July 31 — after the previous extension expired this past Friday

Albertsons names Narayan Iyengar to lead digital efforts

Albertsons names Narayan Iyengar to lead digital efforts

BOISE, Idaho — Albertsons Cos. has appointed Narayan Iyengar as senior vice president, digital marketing and e-commerce. The food and drug retailer said late Monday that Iyengar will be responsible for leading all aspects of digital marketing, including loyalty programs, shopper marketing and the overall digital presence, as well as the e-commerce business, which includes home

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