PP_1170x120_10-25-21

Merck acquires Cubist Pharmaceuticals

KENILWORTH, N.J. — Merck & Co. said Monday it will acquire Cubist Pharmaceuticals Inc. for $8.4 billion. The transaction will include $1.1 billion in net debt (based on projected cash balances) and other considerations for a total transaction value of about $9.5 billion. "Cubist is a global leader in antibiotics and has built a strong

GSK decides not to sell older drugs

LONDON — GlaxoSmithKline PLC (GSK) has reversed a plan to possibly sell some of its established drugs in order to focus on fast-growing medications. "The company has evaluated all bids received and has concluded, consistent with its key criteria of maximizing shareholder value, not to pursue divestment of these products," GSK said in a filing

Walgreens licenses prescription management patents

NEW YORK — Two pharmacy technology companies have struck licensing deals for Walgreen Co.’s prescription alignment patents. VoicePort LLC and Ateb Inc. announced agreements covering Walgreens’ portfolio of prescription alignment patents. "VoicePort’s Synchro-Script technology works best for everyone when it is backed with robust intellectual property and patents," said Christopher Mann, the Rochester, N.Y.-based company’s

Walgreens, Rite Aid report June sales increases

Walgreens, Rite Aid report June sales increases

NEW YORK — Walgreen Co. and Rite Aid Corp. each recorded sales increases in June. At Walgreens, sales totaled $6.28 billion, an increase of 8.9% from $5.77 billion for the same month in fiscal 2013. Total front-end sales increased 1.8% in June compared with the same month in fiscal 2013, while comparable-store front-end sales increased

Kroger acquisition to strengthen online platform

Kroger acquisition to strengthen online platform

CINCINNATI — Kroger Co. announced an agreement to buy Vitacost.com Inc., an online seller of vitamins, natural food, and health and beauty aids, to bolster its online retailing presence.  Boca Raton, Fla.-based Vitacost.com has 2.3 million customers and $382 million in annual sales. Kroger, the nation’s largest supermarket chain, said Vitacost.com is attractive because of its

CVS/pharmacy introduces healthy snacks

CVS/pharmacy introduces healthy snacks

WOONSOCKET, R.I. — A chainwide effort to make it easier for customers to make health-conscious decisions when shopping for food and snacks has been rolled out by CVS/pharmacy with the launch of Gold Emblem Abound, a new brand of snack products.  It includes more than 40 wholesome items that are free from artificial flavors and

Dollar General announces Dreiling’s retirement

Dollar General announces Dreiling’s retirement

GOODLETTSVILLE, Tenn. — Rick Dreiling will retire as chief executive officer of  Dollar General Corp. on May 30, 2015, or upon the appointment of a successor.  Dreiling, 60, who is also chairman of the discount retailer’s board of directors, will continue in that role during a transition period following his successor’s appointment, the company said

Walmart shakes up merchandising team

Walmart shakes up merchandising team

BENTONVILLE, Ark. — Walmart has reordered its merchandising division with 13 executive appointments, including the promotion of company veteran Scott Huff to executive vice president responsible for merchandising operations. Michelle Gloeckler was promoted to executive vice president of consumables and U.S. manufacturing. John Aden is assuming a new role as executive vice president of innovation

Walgreens reports strong increases in Q3 sales

Walgreens reports strong increases in Q3 sales

DEERFIELD, Ill. — Walgreen Co. said Tuesday that its third-quarter sales increased 5.9% over the previous year’s quarter to $19.4 billion as total sales in comparable stores increased 4.8%. Sales for the first nine months increased 5.6% to $57.3 billion. Front-end comparable-store sales (those open at least a year) increased 2.2% in the third quarter,

Walmart Canada names Van den Berghe CEO

BENTONVILLE, Ark. — Walmart said it has hired Delhaize Group executive Dirk Van den Berghe to lead its Canadian operations. He will officially become chief executive officer of Walmart Canada on August 1. Van den Berghe has 30 years of international business experience, most recently as CEO of food retailer Delhaize’s operations in Luxembourg and

Civello honored with Fantle award

Civello honored with Fantle award

SCOTTSDALE, Ariz. — Tony Civello, former chairman, president and chief executive officer of Kerr Drug, has been awarded the National Association of Chain Drug Stores’ Sheldon W. Fantle Lifetime Achievement Award. Civello was recognized for his nearly five decades of service to pharmacy and the chain drug store industry. Civello led Kerr from 1996 through

CVS finishes 2013 with strong fourth quarter

CVS finishes 2013 with strong fourth quarter

WOONSOCKET, R.I. — CVS Caremark Corp.’s fourth quarter earnings beat analysts’ expectations as pharmacy sales were boosted by new drugs and new customers for specialty medications. Net income climbed 12.4% to $1.27 billion, or $1.05 a share, from the year-ago period. Stripping out amortization charges of $124 million in both quarters, adjusted income from continuing

Walgreens’ sales robust in December

Walgreens’ sales robust in December

DEERFIELD, Ill. — Walgreen Co. Monday morning reported a 7.2% increase in its December sales. Comparable-store sales for the month rose 6.1%. Total sales at the 8,200-store chain hit $7.2 billion for the month, up from $6.72 billion last ­December. The company said its front-end sales increased 4% over December 2012 totals, while comparable-store front-end

CVS, Walgreens, Walmart bridge coverage gaps

CVS, Walgreens, Walmart bridge coverage gaps

NEW YORK — Retail pharmacies are taking steps to assist individuals experiencing coverage issues now that the Affordable Care Act is under way. At CVS Caremark Corp., for example, pharmacy teams are providing information to patients so that they can help them contact the appropriate health plan or insurance exchange. "And we are communicating with

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