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MONTREAL — Metro Inc. has completed its $4.5 billion ($3.6 billion U.S.) acquisition of the Jean Coutu Group, creating a food and drug retailer with more than 1,300 stores in Quebec, Ontario and New Brunswick. The store count includes Metro’s 600-plus supermarkets, Coutu’s more than 400 drug stores and Metro’s 250-plus drug stores, which include the
ARLINGTON, Va. – Legislation backed by the National Association of Chain Drug Stores (NACDS) to help address the opioid abuse epidemic was passed today by the House of Representatives Energy and Commerce Committee. The bill – the Every Prescription Conveyed Securely Act (H.R. 3528) – would require electronic prescribing for Schedule II through V controlled substances prescriptions covered under
IRVING, Texas — For more than 35 years McKesson’s ideaShare has been the premier education and networking event for community pharmacies. The leading conference is designed to help independent pharmacy owners and their staff improve their knowledge, performance and profitability. This year, McKesson expects more than 1,500 independent pharmacies will come together from July 8-12,
MEMPHIS — During its earnings call Friday, Fred’s Inc. announced it is evaluating options for its retail pharmacy portfolio and “actively pursuing a sale” of its specialty pharmacy business, as it reported financial results for the 2017 fourth quarter and fiscal year ended February 3. The company’s financial results were originally slated to be released
WASHINGTON – The role of National Association of Chain Drug Stores members in the conversation about improving healthcare and addressing related societal challenges was on display during the 15th Annual World Health Care Congress, held earlier this week here. The World Health Care Congress brought together decision-makers from payer, provider, pharmaceutical, government and solutions organizations
WOONSOCKET, R.I. — CVS Health’s revenue was on the rise as it filled more prescriptions and benefited from a lower effective tax rate, the company said today in reporting its operating results for the three months ended March 31. The drug store chain said its first quarter revenue increased 2.6% to $45.7 billion from $44.5
LA JOLLA, Calif. — A nationwide consortium led by the National Institutes of Health (NIH) will launch the All of Us Research Program on Friday, May 6, which is being hailed as a pioneering research initiative that will use advance technologies and engage participants as citizen-scientists to embark on a new era of health science and precision medicine. Through
MEMPHIS, Tenn. — Fred’s Inc. announced on Friday that chief executive officer Michael Bloom resigned from his post, effective on April 24. He also resigned from his seat on the company’s board. Joseph Anto, the company’s executive vice president, chief financial officer and secretary, will serve as interim chief executive officer. Michael Bloom “The Board
TORONTO — McKesson Canada’s Rexall chain is closing 40 outlets in Ontario and Western Canada, nearly one-tenth of its total store base, according to a memo sent to company employees. The closings come about a year and a half after San Francisco-based McKesson Corp. finalized the purchase of Rexall Health. They take place amid a challenging
MARSHALL, Mo. and WOONSOCKET, R.I. — Red Cross Pharmacy, a top 50 drugstore chain as well as one of the oldest pharmacy businesses in the country, announced that it plans to sell its 14 retail pharmacies to CVS Pharmacy effective June 6, 2018. The Company, which primarily services markets in northwest central Missouri, has two
WOONSOCKET, R.I. — CVS Health today released its 11th annual Corporate Social Responsibility (CSR) Report, detailing its latest efforts to shape the future of health care, reduce environmental impact and exemplify corporate leadership in fulfilling the company’s purpose of helping people on their path to better health. Among the company’s key CSR initiatives in 2017 were an
PALM BEACH, Fla. — In his first remarks as chairman of the National Association of Chain Drug Stores, Mark Panzer thanked those who have taught and collaborated with him throughout his 46-year retail career. He said that NACDS chain and associate members alike can rely on the same formula of “listen, learn and engage” to
BOISE, Idaho — Mark Panzer, chairman of the National Association of Chain Drug Stores, has been involved with the chain drug business for over 40 years. During that time, he has seen the industry transformed, above all by consolidation, but also in response to broader changes in retailing and consumer behavior as well as changing
NEW YORK — This isn’t your father’s chain drug industry. It’s not even your older brother’s. The mergers of CVS Health and Aetna Inc. and Rite Aid Corp. and Albertsons Cos. are recasting two of the top three players and, in the process, redefining what it means to be a drug store operator. “Prescriptions, O-T-Cs
