Lupin 2023

Issue 07-16-2012

Industry reacts to Supreme Court health reform ruling

NEW YORK — After the Supreme Court’s narrow decision late last month to uphold the bulk of President Obama’s health care reform legislation, advocates for community pharmacies and retailers weighed in with a range of reactions. While many of the groups criticized the high court’s ruling to uphold almost all of the Affordable Care Act

Cosby gives look at CVS’ direction

NANTUCKET, Mass. — Walgreen Co.’s loss has been CVS Caremark Corp.’s gain. The latter has fully capitalized on Walgreens’ contract impasse with Express Scripts Inc., according to CVS/pharmacy president Mark Cosby. New pharmacy business from the standoff boosted CVS Caremark’s first quarter earnings 3 cents per share, Cosby said, and is expected to add up

Walgreens to buy USA Drug for $438 million

DEERFIELD, Ill. — Walgreen Co. plans to purchase regional drug chain USA Drug in a $438 million deal that will add 144 drug stores in seven states, primarily in the Mid-South and Great Plains. The acquisition, announced earlier this month, includes corporate offices, a distribution center in Pine Bluff, Ark., and a wholesale and private

NACDS Marketplace takes last curtain call

DENVER — The National Association of Chain Drug Stores ended its quarter-century run of Marketplace Conferences here last month. While the 2012 event marked the end of the association’s premier trade show, Marketplace is not going away. Starting next year, the event will be part of the association’s Total Store Expo (TSE), which will combine

Thoughts turn to next year’s Total Store Expo

ALEXANDRIA, Va. — With the last Marketplace Conference behind it, the National Association of Chain Drug Stores is looking forward to next summer and the debut of the Total Store Expo (TSE) in Las Vegas. The show will unify three NACDS conferences: Marketplace, Pharmacy and Technology, and Supply Chain and Logistics into one event covering

Generics take bite out of same-store sales

NEW YORK — Rite Aid Corp. and Walgreen Co. pointed to generic drug introductions as a key factor in same-store sales declines for June. Comparable-store sales in June fell 1% year over year at Rite Aid — the drug chain’s first monthly comp-store decrease in over a year — and dropped 10% at Walgreens, which

SDM unveils health care web portal

TORONTO — Shoppers Drug Mart (SDM) has unveiled a website, Shoppers Health Care Portal, designed to facilitate the search for reimbursement information and thereby improve patient care. Deciphering the rules governing drug reimbursement in jurisdictions across Canada consumes a disproportionate amount of the scarce time of physicians and other health care professionals involved in the

CVS’ new website offers personalized experience

WOONSOCKET, R.I. — CVS/pharmacy has revamped its website to offer shoppers a highly personalized pharmacy and retail experience. The new is designed to extend in-store access to pharmacy services to shoppers’ homes and mobile devices, making it more convenient to manage, refill and pick up ­medications. With resources such as My Pharmacy, where shoppers

Fruth, Cardinal renew Rx distribution pact

POINT PLEASANT, W.Va. — Fruth Pharmacy has extended its relationship with Cardinal Health Inc. Late last month the regional drug chain that operates 25 locations in southwestern West Virginia and southern Ohio renewed its agreement to have Cardinal Health act as its primary pharmaceutical distributor for another three years. Under the terms of the agreement

Court ruling: Medicaid expansion under cloud

WASHINGTON — A portion of the Supreme Court’s ruling upholding the Affordable Care Act could have an impact on community pharmacies that fill prescriptions covered by Medicaid. While the court upheld the most controversial part of the health care reform law — a requirement that most Americans have health insurance or pay a penalty —

Rite Aid settles with managers

CAMP HILL, Pa. — Rite Aid Corp. last month agreed to pay nearly $21 million to settle 15 class-action lawsuits brought by store managers seeking overtime pay. The settlements, which end lawsuits that were initiated nearly four years ago, deal with the managers’ contention that they were misclassified as salaried employees and under federal and

CVS Caremark appoints Gold CIO

WOONSOCKET, R.I. — CVS Caremark Corp. has named former Avaya Inc. executive Stephen Gold as its new chief information officer. The 53-year-old Gold, who has over 30 years of experience in designing and implementing large-scale technology initiatives in the pharmacy benefits management, e-commerce and retail industries, is focusing on new and differentiating technology solutions for