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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
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
WOONSOCKET, R.I. — Shareholders of CVS Health voted overwhelmingly to approve the company’s $69 billion deal to acquire health insurer Aetna Inc. CVS said that in a special stockholders meeting on Tuesday, more than 98% of shares were voted in favor of the CVS-Aetna merger agreement, which was announced in early December. Also at a
BLOOMFIELD, Conn., and ST. LOUIS — Continuing cross-segment consolidation in the health care arena, health insurer Cigna Corp. plans to acquire pharmacy benefits manager Express Scripts in a $67 billion cash and stock deal. The companies said Thursday that, under the Cigna-Express Scripts merger agreement, Cigna will pay Express Scripts shareholders $48.75 in cash and 0.2434
BENTONVILLE, Ark. — George Riedl, senior vice president at Walmart and president of the Walmart Health and Wellness division, is leaving the company. A Walmart spokeswoman said Wednesday that Riedl, a key pharmacy executive at the retail giant, is slated to depart on March 16. The company didn’t say if a successor had been named. A
CAMP HILL, Pa. — Rite Aid Corp. is winding down its asset sale to Walgreens Boots Alliance (WBA) with the ownership transfer of 537 more stores. Rite Aid said Tuesday that as of March 2, it has transferred 1,651 stores and related assets to WBA for cash proceeds of $3.6 billion. The process has progressed
BOISE, Idaho — Albertsons Cos. has tapped retail veteran Jim Donald, former president and chief executive officer of Starbucks, to serve as its new president and chief operating officer. In his new role, Donald will have responsibility for the operations of the retailers’ more than 2,300 stores and will help drive the growth of the
NEW YORK — The U.S. health care industry has been in flux for a number of years, but the pace of transformation now appears to be accelerating rapidly. Several of the biggest players in the U.S. health care sector are making moves to confront an uncertain future — one that may bring unwelcome competition and
ARLINGTON, Va. — Next month, the National Association of Chain Drug Stores will set an all-time high for reach and participation when pharmacy advocates head to Washington, D.C., for the 2018 NACDS RxImpact Day on Capitol Hill. NACDS said that at its 10th annual RxImpact Day lobbying drive, to be held March 7 and 8, more
BRAMPTON, Ontario — Shoppers Drug Mart outperformed overall retail sales growth for parent Loblaw Cos. in the 2017 fourth quarter and fiscal year. Loblaw said Thursday that for the fourth quarter ended Dec. 30, Shoppers Drug Mart posted revenue of $3.17 billion (Canadian), up 3.8% from $3.06 billion a year earlier. Pharmacy sales totaled $1.42
CAMP HILL, Pa. — The Albertsons Cos. merger with Rite Aid Corp. will create a “truly differentiated” player in the food, health and wellness space, John Standley, chairman and chief executive officer of Rite Aid, said in an interview with Chain Drug Review. The Albertsons-Rite Aid merger deal, announced Tuesday, will transform Rite Aid through
BOISE, Idaho, and CAMP HILL, Pa. — Albertsons Cos. plans to merge with Rite Aid Corp. in a deal that will take the supermarket retailer public. Albertsons Cos. and Rite Aid said Tuesday that the combined company will generate pro forma revenue of about $83 billion and operate about 4,900 stores, 4,350 pharmacy locations and
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) is in negotiations to acquire drug distributor AmerisourceBergen Corp., according to published reports. Representatives of WBA executive vice chairman and chief executive officer Stefano Pessina made “a high-level outreach” to representatives of AmerisourceBergen chairman and CEO Steven Collis several weeks ago, The Wall Street Journal reported, citing people familiar
CAMP HILL, Pa. — As flu cases mount in one of the most severe U.S. flu seasons in the past decade, Rite Aid Corp. is ensuring that its pharmacies are well-prepared. Rite Aid said Monday that its pharmacies are stocked with flu shots, which are available on a walk-in basis at all locations, as well
