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Week of Mon, Apr 7th, 2014

U.S. health secretary Kathleen Sebelius resigns

After enduring harsh criticism over the flaw-filled launch of the Health Insurance Marketplace website, Kathleen Sebelius has resigned as secretary of the U.S. Department of Health and Human Services (HHS).

Rite Aid's 4Q earnings top Wall Street's forecast

Rite Aid Corp. saw its shares surge after reporting fiscal 2014 fourth-quarter earnings that exceeded Wall Street's estimate and announcing the acquisition of health clinic operator RediClinic.

Rite Aid acquires RediClinic

Continuing to broaden its range of health care services, Rite Aid Corp. has acquired RediClinic, a Houston-based operator of retail health clinics.

Rx coalition: More time needed for AMP-based FULs

Pharmacy trade groups are part of a coalition calling on the U.S Department of Health and Human Services (HHS) to allow a one-year transition period for states to fully implement the Medicaid average manufacturer's price (AMP)-based federal upper limits (FULs) for prescription drugs.

CVS: Benefit change can yield specialty drug savings

A study commissioned by CVS Caremark Corp. spotlights opportunities to slash spending on expensive specialty medications, which are consuming a growing portion of the nation's health care expenditures.

Discount Drug Mart, Kroger earn kudos for MTM

Discount Drug Mart and Kroger Co. were recognized for the performance of their medication therapy management services in 2013 by MTM program provider OutcomesMTM.

Navarro execs share insights at Hispanicize 2014

Executives from Navarro Discount Pharmacy were on hand this year at Hispanicize 2014, the nation's the largest annual event for Latino trendsetters and newsmakers.

CVS Caremark finalizes settlement with SEC

CVS Caremark Corp. has closed a previously announced settlement with the Securities and Exchange Commission regarding charges of misleading investors about its PBM business and improper accounting related to its October 2008 acquisition of Longs Drug Stores.

Rite Aid earns specialty pharmacy accreditation

Rite Aid Corp. has received specialty pharmacy accreditation from URAC, a Washington, D.C.-based health care accreditation organization.

NACDS: More transparency needed in efforts to curb Rx abuse, diversion

In comments submitted to a House subcommittee, the National Association of Chain Drug Stores called for more transparency in the way federal agencies conduct enforcement activities to help curb prescription drug abuse and diversion.

Analysis: Drug chains' convenience edge is eroding

When, a number of years ago, the head of a leading drug chain was asked about the challenge that Walmart posed for other community pharmacy operators, he said that his company and, by implication, the rest of the industry could do just fine by living off the crumbs left over by the world’s largest retailer. Time proved him right, with many pharmacies, most notably Walgreens and CVS Caremark, flourishing even as Walmart’s annual sales rose to eclipse the $470 billion mark.

McKesson begins registration for ideaShare 2014

McKesson Corp. has opened registration for its ideaShare 2014 community pharmacy conference, to be held this summer in Orlando, Fla.

Rite Aid appoints brand development executive

Retail veteran David Abelman has joined Rite Aid Corp. as senior vice president of brand development and innovation, a newly created position.

Kinney Drugs adopts new corporate name

Regional pharmacy chain Kinney Drugs is changing its corporate name.

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