ECRM_1170x120_8-1-17

CVS to buy Fagen Pharmacy chain

CVS to buy Fagen Pharmacy chain

WOONSOCKET, R.I. — CVS Pharmacy plans to acquire DeMotte, Ind.-based regional drug chain Fagen Pharmacy. Financial terms of the deal weren’t disclosed. CVS said it agreed to buy 20 Fagen drug stores in northwest Indiana and northeast Illinois. Plans call for eight of the Fagen stores to be converted and rebannered to CVS Pharmacy locations

WBA, Rite Aid to reset waiting period for store deal

WBA, Rite Aid to reset waiting period for store deal

NEW YORK — Walgreens Boots Alliance Inc. and Rite Aid Corp. are rescheduling the waiting period for a downsized store sale agreement reached upon the termination of their planned merger. According filings with the Securities and Exchange Commission yesterday, WBA and Rite Aid agreed to withdraw their initial Hart-Scott-Rodino (HSR) Antitrust Improvements Act notification and

Fred’s tabs Alden’s Freeman for board; Bodine resigns

Fred’s tabs Alden’s Freeman for board; Bodine resigns

MEMPHIS, Tenn. — Later this month, Alden Global Capital LLC president and founding member Heath Freeman is slated to join the board of directors at Fred’s Inc. Fred’s also said Monday that retail pharmacy veteran Christopher Bodine resigned from the board as of Aug. 11. Bodine, a longtime CVS executive, had joined Fred’s board in

Benzer Pharmacy engages in collaborative practice program

TAMPA, Fla. — Via a collaborative practice program, Benzer Pharmacy has begun helping doctors provide clinical services to improve patient health outcomes and generate more revenue for physicians’ ­offices. The clinical services include chronic care management for patients with chronic or complex diseases and health conditions, transitional care management for patients being discharged from a

McKesson Canada names president of Rexall

McKesson Canada names president of Rexall

MISSISSAUGA, Ontario — Sobeys Inc. executive Beth Newlands Campbell is joining McKesson Canada as president of Rexall Drugstore. McKesson Canada said Friday that Newlands Campbell, most recently president of the Atlantic/Ontario business unit at Sobeys, is slated to start in her new post at Rexall on Aug. 8. As Rexall’s president, Newlands Campbell will lead

Rite Aid looks ahead to stronger store base

Rite Aid looks ahead to stronger store base

CAMP HILL, Pa. — Rite Aid Corp. has provided a more detailed picture of its store base after the expected closing of its deal to sell nearly half its stores to Walgreens Boots Alliance (WBA). In a filing with the Securities and Exchange Commission, Rite Aid said it would have 2,336 stores following the sale

Shoppers Drug Mart tallies 2Q sales gains

Shoppers Drug Mart tallies 2Q sales gains

BRAMPTON, Ontario — Second-quarter sales edged up at Shoppers Drug Mart as the retailer posted revenue gains in both the front-end and pharmacy segments. Parent Loblaw Cos. said Wednesday that for the 2017 second quarter ended June 17, Shoppers Drug Mart’s sales totaled $2.88 billion (Canadian) up 3.9% from $2.78 billion a year earlier. Revenue

London Drugs, Loblaw aid in B.C. wildfire relief effort

London Drugs, Loblaw aid in B.C. wildfire relief effort

BRITISH COLUMBIA, Canada — London Drugs and Loblaw Cos., including its Shoppers Drug Mart chain, are collecting donations and pitching in supplies to help residents affected by wildfires raging around south-central British Columbia. The province announced a state of emergency on Friday because of the wildfires, and as of Wednesday there were more than 180

Jean Coutu stores see 1Q sales surge

Jean Coutu stores see 1Q sales surge

VARENNES, Quebec — Double-digit gains in the pharmacy hoisted Jean Coutu Group’s retail store network sales in the fiscal 2018 first quarter. Jean Coutu said Tuesday that for the first quarter ended June 3, 2017, sales in the franchised store network totaled $1.15 billion (Canadian), up 7% from $1.08 billion a year earlier. Revenue rose

Sales decline in June at Fred’s Pharmacy

Sales decline in June at Fred’s Pharmacy

MEMPHIS, Tenn. — Fred’s Pharmacy reported decreased revenue and same-store sales for June but noted positive results in its pharmacy business. Fred’s said Thursday that for the five weeks ended July 1, sales totaled $197.5 million, down 5.3% from $208.5 million a year earlier. The company attributed the decline the closing of 39 underperforming stores

Walgreens Boots Alliance sees solid 3Q results

Walgreens Boots Alliance sees solid 3Q results

DEERFIELD, Ill. — Analysts said Walgreens Boots Alliance turned in a solid third quarter and stands to emerge on a positive note from its new deal with Rite Aid Corp. upon the termination of their merger. For the third quarter ended May 31, WBA posted net earnings (GAAP) of $1.16 billion, or $1.07 per diluted

McKesson Canada to divest 27 Rexall drug stores

ST. LAURENT, Quebec — McKesson Corp. is selling 27 Rexall drug stores to Rx Drug Mart under a consent agreement with the Competition Bureau of Canada for its $2.2 billion (Canadian) acquisition of Rexall Health. The Competition Bureau said last month that it has approved Rx Drug Mart, a Toronto-based independent pharmacy network, as the

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