Lupin 2023

Issue 02-13-2012

Katz to sell two pharmacy business units to McKesson

MISSISSAUGA, Ontario — Katz Group Canada has agreed to sell its two banner pharmacy businesses, Drug Trading Co. and Medicine Shoppe Canada, to McKesson Corp. in a $920 million (Canadian) cash deal. Drug Trading provides purchasing, merchandising and other value-added services to some 850 independent pharmacists under the Guardian and I.D.A. banners, while Medicine Shoppe

Walgreens buys BioScrip’s specialty pharmacy business

DEERFIELD, Ill. — Walgreen Co. has agreed to acquire BioScrip Inc.’s specialty pharmacies and centralized specialty and mail-service pharmacy businesses. The $225 million deal includes about $170 million in cash at closing and BioScrip’s retention of associated accounts receivable and working capital liabilities of about $55 million. The deal could also generate as much as

CVS Caremark study: Interventions by pharmacists work

WASHINGTON — Pharmacy Advisor, CVS Caremark Corp.’s integrated pharmacy-based program for diabetes and other chronic diseases, has demonstrably increased medication adherence rates and physician initiation of prescriptions for concomitant medications to improve patient health. At a recent Health Affairs forum, CVS Caremark chief health care strategy and marketing officer Helena Foulkes presented findings from a

Court ruling on Medi-Cal cuts acclaimed

SACRAMENTO, Calif. — The National Association of Chain Drug Stores, California Pharmacists Association (CPhA) and several other health care organizations are hailing a recent decision by a federal court to block California officials from proceeding with a 10% Medi-Cal reimbursement rate cut that had been approved by the federal government. “We commend the court’s final

Indianapolis stores revamped by Walgreens

DEERFIELD, Ill. — Walgreen Co. president and chief executive officer Greg Wasson was joined by former Indianapolis Colts head coach Tony Dungy, Sen. Richard Lugar (R., Ind.) and community leaders at a ceremony marking the grand reopening of Walgreens’ newly renovated stores in the Indianapolis market. All of the 68 Walgreens stores in the Indianapolis

Rule on Medicaid Rx reimbursement is scrutinized

The federal government’s proposed rule on Medicaid pharmacy reimbursement using the average manufacturer price (AMP) model is being closely examined by the National Association of Chain Drug Stores. NACDS is reviewing the proposal with its members and will provide comments to the Centers for Medicare and Medicaid Services (CMS), said president and chief executive officer

SDM is ready to roll out some new offerings in March

TORONTO — Shoppers Drug Mart next month plans to launch a cobranded banking account/debit card with Royal Bank of Canada (RBC) that will make it more convenient for Canadians to bank and earn rewards chainwide. Also in March SDM will become the exclusive Canadian retailer of the essence, the value cosmetics brand from Cosnova Beauty.

Walgreens helps patients hurt by impasse with PBM

DEERFIELD, Ill. — Walgreen Co. says its Prescription Savings Club (PSC) is being welcomed by thousands of patients with prescription drug benefit plans managed by Express Scripts Inc. According to Walgreens, 700,000 customers have signed up for PSC, a drug discount program, since January 1 — the date that the pharmacy benefit manager stopped providing

CVS launches mobile Rx text notifications

WOONSOCKET, R.I. — CVS/pharmacy customers can now get text messages notifying them when their prescription is ready for pickup through a new service called Order Ready Text Messaging. Customers can sign up to receive text messages by speaking to a pharmacy staff member at their local CVS store. Once enrolled, they will get their first

Sears sells Rx files from 33 Kmarts to Walgreens

DEERFIELD, Ill. — Walgreen Co. is acquiring the prescription files and inventory from 33 Kmart pharmacies in 16 states. The patient files will be transferred to nearby Walgreens pharmacies. Patients whose prescription files are being transferred and who have had a prescription filled within the past two years will be notified by letter upon completion

New direction puts Rite Aid back on track

Rite Aid has embarked on a game-changing metamorphosis, a boldly conceived and thus far brilliantly executed initiative that, if successful, will transform America’s No. 3 drug chain into a compelling health care retailer and an irresistible option for consumers who, until now, have regarded Walgreens or CVS as their primary drug store. At the core

Momentous year for drug chains begins to unfold

This year promises to be a pivotal one for the chain drug business, as issues of industrywide significance are decided even as individual companies strive to fortify and improve their position in an intensely competitive sector where the pace of change is steadily accelerating. The Supreme Court will take up the contentious issue of health