Issue 02-27-2012

Loeffler blasts Express Scripts-Medco deal

NAPLES, Fla. — The pending $29 billion merger of Express Scripts Inc. and Medco Health Solutions Inc. is “not bad for a couple of middlemen,” National Association of Chain Drug Stores chairman Bob Loeffler said this month during a withering attack at the organization’s Regional Chain Conference. Loeffler, who is also chief administrative officer of

As opposition mounts, FTC weighs big PBM deal

ST. LOUIS — Express Scripts Inc. and Medco Health Solutions Inc. have provided the Federal Trade Commission with additional data about their planned merger, even as opposition to the deal grows. The companies have complied with a “second request” for information from the FTC regarding their proposed $29 billion merger, which would create the nation’s

Impact of impasse reflected in January sales

NEW YORK — Retail sales in January were generally mixed, and the leading drug chains’ fortunes — notably Walgreen Co. — varied widely. Overall, chain drug store sales improved a modest 2.3% to $18.17 billion during January, while same-store sales edged up just 0.5%. The big news was Walgreens, which saw both its total sales

Walgreens is moving ahead

DEERFIELD, Ill. — January sales figures underlined the impact of Walgreen Co.’s loss of Express Scripts Inc.’s prescription business, but the numbers did not dismay all analysts. Moreover, Walgreens’ executives got some welcome validation of their contention that not all pharmacy benefit plans will want to be part of Express Scripts’ restricted network. After meeting

APhA lauds Rite Aid immunization effort

WASHINGTON — Rite Aid Corp. and a CVS/pharmacy pharmacist and a CVS pharmacy technician are among the winners of the American Pharmacists Association’s 2012 APhA Immunization Champion Awards. The awards will be presented at the APhA Annual Meeting and Exposition in New Orleans, March 9 through March 12. Rite Aid, the winner in the association’s

CMS asked to hold back on publishing FULs

ALEXANDRIA, Va. — The Centers for Medicare and Medicaid Services (CMS) should stop publishing draft federal upper limit (FUL) lists based on average manufacturer price (AMP) until a formal rule-making process on AMP is completed, says the National Association of Chain Drug Stores. To date, CMS has issued four draft FUL lists. “In addition to

Kinney realigns merchandising team

GOUVERNEUR, N.Y. — Regional chain Kinney Drugs has revamped its merchandising ­department. The chain, which operates 91 drug stores in northern New York state and neighboring Vermont, says the move, which has seen several executives promoted, will help it enhance relations with vendors and improve its product planning and lead to better product assortments. “These

Rite Aid implements plan to refinance debt

CAMP HILL, Pa. — With its top-line and operating results on the upswing, Rite Aid Corp. has moved to refinance debt. The drug chain this month announced a plan to issue $481 million in senior unsecured notes due in 2020 to help fund a tender offer to buy $459 million of its 8.625% senior notes

Online component tied to Walgreens’ weekly circular

DEERFIELD, Ill. — Walgreen Co. has relaunched its weekly circular, giving the Sunday promotional piece a new look and tying it into the retailer’s online and mobile ­platforms. “This is the most dramatic refresh we’ve made to the weekly ad in more than two decades, delivering added value for our growing numbers of online and

NACDS is gearing up for Total Store Expo

NAPLES, Fla. — National Association of Chain Drug Stores chairman Bob Loeffler told attendees at the NACDS Regional Chain Conference that retailers and suppliers alike will benefit from next year’s inaugural NACDS Total Store Expo. The expo is scheduled for August 10 to 13, 2013, at the Sands Expo in Las Vegas. The Regional Chain

CDMA Expo brings retailers, suppliers together

KISSIMMEE, Fla. — The Chain Drug Marketing Association’s (CDMA’s) 86th Annual Trade Expo here last month attracted a record-breaking number of attendees, the group says. The show offered attendees access to 110 exhibitors on its trade floor, a store brand forum, the CDMA Showroom and the association’s direct import program. In addition, CDMA shareholders elected

Giancamilli’s impressive, improbable career

Ending a 40-year career in retailing that has been as impressive in its diversity as it has been stunning in its achievements, Andy Giancamilli has stepped down as chief executive officer of Mississauga, Ontario-based Katz Drug. Anyone who really cares about mass retailing in America knows of Giancamilli, his travels, his accomplishments and his impact.

Role of drug store jeopardized by PBM deal

As the Federal Trade Commission ponders the potential ramifications of a $29 billion merger between Express Scripts and Medco Health Solutions, it confronts a number of weighty issues. The combination of two of the nation’s three largest pharmacy benefit management companies would create an entity with unprecedented clout in the prescription drug market, one with