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Fred’s looks to sell specialty pharmacy business

Fred’s looks to sell specialty pharmacy business

MEMPHIS — Fred’s Inc. has announced plans to sell its specialty pharmacy business. The disclosure led the company to delay publication of its fourth quarter and 2017 full-year results. An earnings call that was slated for today is now expected to be held May 4. A filing yesterday with the Securities and Exchange Commission says

Kevin Hourican named president of CVS Pharmacy

Kevin Hourican named president of CVS Pharmacy

WOONSOCKET, R.I. —  Kevin Hourican has been promoted to president of CVS Pharmacy, the retail division of CVS Health. Hourican, who most recently served as the company’s executive vice president of retail pharmacy, had been serving as interim president of the drug chain following the departure of Helena Foulkes, who left to head Hudson’s Bay Co. In his

Despite red ink, Rite Aid sees some progress

Despite red ink, Rite Aid sees some progress

CAMP HILL, Pa. — Rite Aid Corp. on Thursday reported net income of $767.1 million, or 73 cents per diluted share, for the fourth quarter ended March 3. The company showed a net loss from continuing operations of $483.7 million, or 46 cents per diluted share, for the quarter. Adjusted net loss from continuing operations

CVS Health aims to help patients save

CVS Health aims to help patients save

WOONSOCKET, R.I. — CVS Health has revealed a new, comprehensive program designed to combat rising prescription drug prices and help patients save money on their medications. The new initiatives are being launched against a background of ongoing increases in manufacturers’ list prices for drugs and a growing percentage of Americans who have high-deductible health plans.

CVS to focus on kidney care and dialysis treatment

CVS to focus on kidney care and dialysis treatment

WOONSOCKET, R.I.— CVS Health announced an exciting new initiative that will focus on chronic kidney disease and dialysis and builds upon the company’s focus on driving innovation in the management of chronic disease to help improve patient health outcomes while managing costs. This new program will focus on early identification of kidney disease and expansion of

Walgreens Boots Alliance posts 2Q gains

Walgreens Boots Alliance posts 2Q gains

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) reported better-than-expected earnings and revenue on Wednesday when it announced results for the second quarter of fiscal 2018, which ended February 28. Overall, WBA earned $1.73 a share, up 27% versus a year ago. Revenue grew 12.1% to $33.02 billion. Same-store sales rose 2.4%, with comparable-pharmacy sales up

Five ways Amazon can jump into health care

Five ways Amazon can jump into health care

  BOSTON — Online retail giant Amazon will enter the broader health care market — it’s just a question of how, according to global management consulting firm L.E.K. Consulting. In a new report released yesterday, L.E.K. said Amazon has the right combination of capabilities for “its big health care-industry ambitions” and could launch offerings running the gamut from

Walgreens raises beauty to an even higher level

Walgreens raises beauty to an even higher level

DEERFIELD, Ill. — The elevation of beauty at Walgreens continues to take the category to new heights. The retailer has just completed the second phase of the Walgreens Beauty Differentiation concept rollout, diversifying its department mix with new brands and tonics. The new experience offers an updated and stress-free beauty shopping experience with testers and

Former Lilly CFO to head CVS Caremark

Former Lilly CFO to head CVS Caremark

NEW YORK — CVS Health has named former Eli Lilly and Co. chief financial officer Derica Rice as president of its CVS Caremark pharmacy benefit management unit. Plans call for Rice to take the helm at CVS Caremark on March 30, CVS said late Tuesday. The appointment was earlier reported by The Wall Street Journal.

Time for drug chains to reclaim beauty category

Time for drug chains to reclaim beauty category

NEW YORK — It is a pivotal juncture for the beauty care category in the drug channel. Retailers and brands need to devise a game plan to wrest the business away from prestige power players. Sales in cosmetics, skin care and grooming are firing on all cylinders — but sadly, not in the mass beauty

Senators aim to quash pharmacy gag clauses

Senators aim to quash pharmacy gag clauses

WASHINGTON — A group of senators are sponsoring legislation to bring more prescription drug pricing transparency to the pharmacy counter. Sens. Susan Collins (R., Maine), Claire McCaskill (D., Mo.) and Debbie Stabenow (D., Mich.) yesterday introduced the Patient Right to Know Drug Prices Act (S. 2554) and the Know the Lowest Price Act (S. 2553), which would

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