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Jeff Leger named Shoppers Drug Mart president

Jeff Leger named Shoppers Drug Mart president

TORONTO — Jeff Leger has been named president of Shoppers Drug Mart, succeeding Mike Motz, who has been promoted to chief operating officer of SDM parent Loblaw Cos. Loblaw confirmed Leger’s appointment on Tuesday. He previously served as executive vice president of pharmacy and health care for both Loblaw and Shoppers Drug Mart stores. Prior

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

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

Walgreens rebranding embraces old, new

Walgreens rebranding embraces old, new

In an era when brand image all too often oversells what it is supposed to represent, Walgreens finds itself in the enviable position of updating its identity to better reflect its very real merits and the combination of continuity and change that characterizes the drug chain. The first public step in the process occurred early

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

Walgreens redefines its brand identity

Walgreens redefines its brand identity

DEERFIELD, Ill. — As part of a brand repositioning, Walgreens is changing its tagline to “Trusted Since 1901” to emphasize its long heritage of serving customers. Walgreens said Friday that the new slogan, which will replace “At the Corner of Happy and Healthy,” will make its debut in a 30-second television commercial that will air

CVS Health plans real-time benefits visibility

CVS Health plans real-time benefits visibility

WOONSOCKET, R.I. — CVS Health has announced that its pharmacy benefits manager (PBM), CVS Caremark, will begin providing real-time visibility to member-specific medication costs and available lower-cost therapeutic alternatives at the point of prescribing and at the pharmacy. This enhanced visibility to the patient’s benefit across all points of care can help eliminate potential dispensing delays, improve

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

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,

Reports: CVS may be near deal to buy Aetna

Reports: CVS may be near deal to buy Aetna

NEW YORK — A deal for CVS Health to acquire Aetna Inc. could happen by the end of the month, published reports say. Citing anonymous sources, The Wall Street Journal reported Monday that CVS was nearing a $66 billion agreement to buy the health insurer, according to reports. The news of a potential CVS-Aetna merger

Diplomat Pharmacy buys LDI for $595 million

Diplomat Pharmacy buys LDI for $595 million

FLINT, Mich. — Diplomat Pharmacy Inc. plans to acquire St. Louis-based pharmacy benefit manager LDI Integrated Pharmacy Services for in a $595 million cash and stock deal. The move marks the second PBM acquisition this month by Diplomat, the nation’s largest independent specialty pharmacy. On Nov. 6, the company announced the purchase of National Pharmacy

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