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WOONSOCKET, R.I. — CVS Health saw sales climb by double digits for the 2015 fourth quarter and fiscal year, fueled in large part by its acquisition of long-term care pharmacy provider Omnicare Inc., while adjusted earnings per share were in line with Wall Street’s forecast. CVS said Tuesday that revenue for the fourth quarter ended
CAMP HILL, Pa. — Rite Aid Corp. stockholders have voted overwhelmingly to approve the company’s $17.2 billion deal to be acquired by Walgreens Boots Alliance Inc. Approximately 97% of the votes cast at a special meeting of stockholders on Thursday were in favor of the deal. A quorum of 72% of Rite Aid’s total outstanding
WOONSOCKET, R.I., and MINNEAPOLIS — The first CVS pharmacies have opened in six Target discount stores in North Carolina. Branded as CVS Pharmacy, the pharmacies are being operated as store-within-a-store departments and are located in Hickory, Monroe, Morrisville, Raleigh, Matthews and Wesley Chapel, N.C. Executives from CVS Health and Target Corp. — including CVS Pharmacy
PHILADELPHIA — Rite Aid Corp.’s RediClinic has allied with regional health care provider Aria Health, a move that will bring the retail clinic operator’s services to more people in the greater Philadelphia area. Plans call for RediClinic and Aria Health to implement clinical integration initiatives that will facilitate collaboration between RediClinic practitioners and Aria Health-affiliated
NEW YORK — Walgreens Boots Alliance’s deal to acquire Rite Aid and partnership with Valeant Pharmaceuticals will build on WBA’s strong start in its first full year as a unified company, executive vice chairman and CEO Stefano Pessina said here at the annual shareholders meeting. “I am happy to say that we are on track
MISSISSAUGA, Ontario — Rexall has launched a medication synchronization program for 445 of its pharmacies across Canada. Called OneStopMeds, the med sync program is powered by Ateb’s Time My Meds solution. Rexall said Monday that it’s the first retail pharmacy in Canada to offer this service to patients in multiple provinces. To participate in the
WASHINGTON — The Centers for Medicare & Medicaid Services (CMS) has issued the Covered Outpatient Drugs final rule with comment, which the National Association of Chain Drug Stores said includes “significant changes” to Medicaid pharmacy reimbursement for generic drugs based on the average manufacturer price (AMP) model. Released on Thursday and due to be published
The practice of pharmacy continues to gain recognition as an integral part of the rapidly changing health care system. As 2016 gets under way, chain drug retailers are seeking ways to elevate the status of the profession even more — getting the most out of its continued movement away from a dispensing foundation toward a
NEW YORK — Drug stores outpaced other mass retailers in December sales, even with modest increases in total and same-store sales for the month. Total drug store sales in December were up 4% compared with the same month last year, according to research by Chain Drug Review publisher Racher Press. Same-store sales increased 1.7%. And
BENTONVILLE, Ark. — Walmart plans to close all of its Walmart Express small-format stores in the United States as part of a move to shut 269 stores worldwide. The retail giant said Friday that, after a review of the nearly 11,600 stores in its global portfolio, it aims to close 269 stores, including 154 U.S.
SAN FRANCISCO — McKesson Corp. announced a new distribution pact with CVS Health for Target pharmacies in updating its earnings outlook for fiscal 2016 and providing preliminary guidance for fiscal 2017. McKesson said that for the 2016 fiscal year ending March 31, it now projects adjusted earnings per diluted share of $12.60 to $12.90, compared
DEERFIELD, Ill. — Walgreens is turning over the operation of 56 Healthcare Clinics at stores in the greater Chicagoland area to Advocate Health Care, the largest health system in Illinois. The drug chain said Monday that Advocate will lease the space to operate the clinics in the Walgreens stores. Plans call for the clinics to
VARENNES, Quebec — Jean Coutu Group’s retail store network eked out total and same-store sales gains for the fiscal 2016 third quarter. On the corporate side, Jean Coutu also reported upticks in revenue, net profit and earnings per share for the quarter, which ended Nov. 28. The EPS result was in line with analysts’ estimates.
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) topped Wall Street’s earnings projections for its fiscal 2016 first quarter. WBA said Thursday that for the first quarter ended Nov. 30, 2015, adjusted net earnings attributable to Walgreens Boots Alliance were $1.13 billion, or $1.03 per diluted share, compared with $749 million, or 78 cents per diluted
