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Issue 06-11-2012

Walmart takes the high road

FAYETTEVILLE, Ark. — Wal­mart will run all facets of its business with integrity, chief executive Mike Duke and chairman Rob Walton vowed at the company’s annual shareholders meeting earlier this month. The retailer is committed to corporate scruples “everywhere that we operate,” said Duke, “and we are working to continually strengthen this.” Addressing allegations of

News Analysis: Merlo unlocks CVS Caremark potential

WOONSOCKET, R.I. — Larry Merlo’s initial year as chief executive officer of CVS Caremark Corp. has been a remarkable one indeed. Not that you’d notice if you confined your examination, analysis and interpretation to the CVS drug store chain. His true contribution has come from his efforts to transform the Caremark pharmacy benefits manager from

Rite Aid CEO set to add chairman’s title

CAMP HILL, Pa. — Rite Aid Corp. president and chief executive officer John Standley will take on the additional responsibilities of chairman at the company’s annual shareholders meeting this month. He will succeed Mary Sammons, who has served as chairman since June 2007, and whose term expires at the June 21 meeting. “John is a

Preview: There’s a lot to gain at NACDS Marketplace

DENVER — When it comes to reaching and influencing the mass retailing community, the most creative marketing mind in America today belongs to Scott Emerson, head of the Emerson Group, itself one of the creative companies when it comes to brand marketing. To encourage the involvement of retail attendees at the 2012 National Association of

SDM has a look back — and to the future

TORONTO — Shoppers Drug Mart’s (SDM’s) annual meeting here last month marked a double anniversary — half a century since the company was founded, 10 years since it went public. Present to help mark the occasion was the redoubtable Murray Koffler, who, as usual at the company’s annual meetings, made a cameo appearance, reminding all

Cardinal, DEA reach settlement

DUBLIN, Ohio — Settling a government lawsuit charging that it improperly distributed large volumes of oxycodone, Cardinal Health Inc. has agreed to a two-year suspension of its Lakeland, Fla., distribution center’s registration to ship controlled substances. The settlement includes an agreement by Cardinal to improve certain anti-diversion procedures. “This agreement allows us to put this

Walgreens enhances Rx savings program

DEERFIELD, Ill. — Walgreen Co. has developed what it says is an improved Prescription Savings Club program. Executives say they hope the program will help address what the company sees as a growing problem. Some estimates, they note, show that as many as one in four adults in the United States don’t have sufficient prescription

CVS Caremark helps PBM clients cut costs

WOONSOCKET, R.I. — Pharmacy benefits management clients of CVS Caremark Corp. saved nearly $2.4 billion in 2011, in part because of the company’s focus on providing medication adherence programs for patients with chronic conditions. In its annual Insights Report, which reviews drug trend and highlights key issues in pharmacy care, CVS Caremark notes that the

SDM’s new CEO Pilla gives take on what lies ahead

TORONTO — Appearing at his first Shoppers Drug Mart annual meeting, Domenic Pilla, the company’s new president and chief executive officer, outlined the drug chain’s opportunities and challenges. Items listed by Pilla included the following: • The Shoppers Optimum Card, with its 10 million holders, is a rich resource that the drug chain is increasingly

Paragon Pharmacies acquired by Shoppers Drug Mart

TORONTO — Shoppers Drug Mart is acquiring Paragon Pharmacies Ltd. in a transaction in which SDM will gain from Paragon 19 retail pharmacies and three central fill pharmacies in British Columbia, Alberta and Manitoba. The deal is valued at an estimated $75 million in cash. Completion of the transaction is subject to the approval of

An era of unprecedented achievement

One of the most productive tenures in the annals of the National Association of Chain Drug Stores ended two months ago when H-E-B executive Bob Loeffler stepped down as chairman of the association. Loeffler assumed the chairmanship at the 2011 NACDS Annual Meeting in Scottsdale, Ariz., and handed the gavel to Walgreens chief executive officer

Small format looks like a winner for Walmart

Amid all the attention directed at Walmart’s recent annual meeting, where the hoopla surrounding the discounter’s golden anniversary celebration vied with concerns voiced by many shareholders about the bribery scandal that hit the company in April, one important development has received less attention than it otherwise would have: Walmart Express, the company’s experimental small-format stores,