CAMP HILL, Pa. — Rite Aid Corp. has purchased pharmacy files from 12 A&P supermarkets for about $8.1 million. The deal was approved late last month in bankruptcy court. The files are from pharmacies in stores — including seven in New Jersey — that A&P earmarked for immediate closing when it filed for bankruptcy in
NEW YORK — The world’s biggest retailer and a regional discount chain have attributed pressure on profits to trends in the prescription drug business. Walmart and Memphis, Tenn.-based Fred’s Inc. said lower pharmacy margins had eaten into second quarter earnings and pointed to lower reimbursements and a drop in cash customers as a result of
NOVI, Mich. — The Chain Drug Marketing Association (CDMA) has not just withstood the consolidation of the chain drug industry. It has grown in spite of it. CDMA has broadened its membership with grocery stores and wholesalers, as well as convenience store chains, notes president Jim Devine. “We’re going beyond the drug channel,” he says.
TORONTO — Shoppers Drug Mart (SDM) has launched a Beauty Boutique e-commerce website, allowing customers to #BRINGBEAUTYHOME with the click of a button. The new BeautyBoutique.ca site gives customers the opportunity to view thousands of prestige beauty products for online purchase — and to collect Optimum points with each purchase. Site users can shop for
WASHINGTON — The Affordable Care Act has reduced the number of Americans without health insurance by 15.8 million, or one-third, since 2013, new government data shows. In the first quarter of this year there were 29 million uninsured people, the National Center for Health Statistics said this month. The share of the population without insurance
LAS VEGAS — John Balch was named 2015 Medicine Shoppe Franchisee of the Year during Cardinal Health Inc.’s annual Retail Business Conference (RBC). Balch, based in Cumberland, Md., was recognized for his patient-oriented service and ability to meet the unique needs of the diverse communities his pharmacies serve. The award honors a pharmacy that serves
DEERFIELD, Ill. — As chief executive officer of Walgreens Boots Alliance Inc. (WBA), Stefano Pessina says he will provide management stability, enabling the company to focus on its operational and strategic tasks. He says the WBA board appointed him CEO (he had been in the role on an interim basis), rather than choose a new
FLINT, Mich. — Diplomat Pharmacy Inc. is a growing company in a quickly growing industry. The specialty pharmacy provider has made the most of its independence, says chairman and chief executive officer Phil Hagerman, and continues to do so after last year’s initial public offering. Even though Diplomat has become publicly traded, “we absolutely still
DEERFIELD, Ill. — Jeff Berkowitz, president of Pharma and Global Market Access at Walgreens Boots Alliance Inc., has left the company. Berkowitz also was a WBA executive vice president. “With the restructuring of our Pharma and Global Market Access group, Jeff Berkowitz, who has led that function since its formation, has made the decision to
TORONTO — Loblaw Cos. will shutter 52 underperforming stores, including Shoppers Drug Mart units, over the next year, giving up revenue to boost its bottom line. Canada’s No. 1 grocer said the closing of the outlets — which also include supermarkets, stand-alone Joe Fresh clothing outlets and gas stations — is expected to cut its
NEW YORK — Chain drug retailers have gotten used to dealing with fewer, and larger, drug makers, wholesalers and pharmacy benefit managers over the years. Retailers themselves have also consolidated, and now a merger wave has washed over the health insurance industry. While acquisitions in other sectors have been driven by the pursuit of economies
ST. LEONARD, Quebec — As a drug store customer, Philippe Duval, president and chief executive officer of Uniprix Group, was always surprised by how little the trade class had changed for decades. “The reason I came out of retirement in February to head up the Uniprix Group was the fact that there were so many
DEERFIELD, Ill. — Jeff Berkowitz, executive vice president at Walgreens Boots Alliance and president of Pharma and Global Market Access, has left the company. “With the restructuring of our Pharma and Global Market Access group, Jeff Berkowitz, who has led that function since its formation, has made the decision to pursue other opportunities outside the
WOONSOCKET, R.I. — Continuing its aggressive growth and diversification, CVS Health has purchased Target Corp.’s pharmacy and clinic businesses for some $1.9 billion. The acquisition propels CVS past Walgreens as the nation’s No. 1 pharmacy operator by market share and store count. CVS will have close to 9,500 prescription counters. Walgreens had 8,232 as of
