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Inside This Issue - News
With its $6.7 billion deal to acquire a large stake in Alliance Boots, Walgreen Co. has become the first American drug chain to delve into overseas markets and set in motion what could be dramatic changes for its entire operation. After the Supreme Court’s narrow decision late last month to uphold the bulk of President Obama’s health care reform legislation, advocates for community pharmacies and retailers weighed in with a range of reactions. Walgreen Co.’s loss has been CVS Caremark Corp.’s gain. The latter has fully capitalized on Walgreens’ contract impasse with Express Scripts Inc., according to CVS/pharmacy president Mark Cosby. Walgreen Co. plans to purchase regional drug chain USA Drug in a $438 million deal that will add 144 drug stores in seven states, primarily in the Mid-South and Great Plains. The National Association of Chain Drug Stores ended its quarter-century run of Marketplace Conferences here last month. With the last Marketplace Conference behind it, the National Association of Chain Drug Stores is looking forward to next summer and the debut of the Total Store Expo (TSE) in Las Vegas. Rite Aid Corp. and Walgreen Co. pointed to generic drug introductions as a key factor in same-store sales declines for June. Shoppers Drug Mart (SDM) has unveiled a website, Shoppers Health Care Portal, designed to facilitate the search for reimbursement information and thereby improve patient care. CVS/pharmacy has revamped its website to offer shoppers a highly personalized pharmacy and retail experience. Fruth Pharmacy has extended its relationship with Cardinal Health Inc. The international expansion of a U.S. drug chain was a long time coming, but when it happened it happened with a bang. A portion of the Supreme Court’s ruling upholding the Affordable Care Act could have an impact on community pharmacies that fill prescriptions covered by Medicaid. Rite Aid Corp. last month agreed to pay nearly $21 million to settle 15 class-action lawsuits brought by store managers seeking overtime pay. CVS Caremark Corp. has named former Avaya Inc. executive Stephen Gold as its new chief information officer.
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