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Issue 01-06-2014

2014 Retail Forecast: Chain drug execs look ahead

Chain drug executives in the United States and Canada expect 2014 to be a pivotal year for the industry as the changing face of health care is impacting community pharmacies on both sides of the border. Executives said issues over pharmacy reimbursement, changes in the drugs that patients take and the potential for a flood

Rite Aid execs named Retailers of the Year by CDR

CAMP HILL, Pa. — The editors of Chain Drug Review have chosen John Standley, Ken Martindale and Frank Vitrano, Rite Aid Corp.’s senior management triumvirate, as the publication’s Chain Drug Retailers of the Year for 2013. From the left: Rite Aid president and COO Ken Martindale; chairman and CEO John Standley; senior executive VP, CFO

CVS Caremark honored for expanding scope of Rx

WOONSOCKET, R.I. — For almost a decade, CVS Caremark Corp. has been synonymous with the drive to expand the boundaries of community pharmacy. From the time of the CVS drug chain’s merger with Caremark, one of the nation’s biggest pharmacy benefits managers, in 2007, through the introduction of such ground-breaking programs as Maintenance Choice and

Walgreens’ Wagner is top operations exec

DEERFIELD, Ill. — Overlooked amid the dramatic merger, acquisition and assimilation activity that defined and characterized Walgreen Co. in 2013 was a stunning if less obvious set of initiatives that put Walgreens on the cutting edge of innovative retailing concepts and initiatives. Mark Wagner The continued openings of the retailer’s innovative Flagship store concept, the

CVS, Cardinal team up for generics sourcing

WOONSOCKET, R.I. — CVS Caremark Corp. and Cardinal Health Inc. have inked a deal to form the largest generic drug sourcing entity in the United States, which is the world’s largest generics market. Both companies are contributing their sourcing and supply chain expertise to the 50/50 joint venture and are committing to source generics through

Holiday sales impacted by shorter shopping season

NEW YORK — A late Thanksgiving dampened holiday sales at drug chains, but the trade class still put up better numbers than the retail industry overall. Total dollar volume at chain drug stores climbed 4.5%, with same-store sales rising 2.1%. With six fewer days between Thanksgiving and Christmas than there were a year ago, the

Implementation of ACA proceeds by fits and starts

WASHINGTON — Heavy website traffic late last month led the Obama administration to twice extend the enrollment deadline for health insurance under the Affordable Care Act. The White House first pushed back the deadline by one day, to December 24. The administration then said people who had missed the due date because of problems with

NACDS questions impact of restricted Rx networks

WASHINGTON — The National Association of Chain Drug Stores says it is concerned about restricted pharmacy networks in the Affordable Care Act health insurance exchange plans. “Preferred networks in the pharmacy sector may interfere with patient access to quality care,” NACDS told members of the House Oversight and Government Reform Committee last month. “The use

Pharmacists continue to rate highly for integrity

ARLINGTON, Va. — Pharmacists continue to garner high rankings in the annual Gallup survey seeking Americans’ perspectives on how well members of various professions measure up in demonstrating honesty and upholding ethical standards. In the 2013 poll that measured the public’s trust of health care professionals and those engaged in other disciplines, pharmacists ranked second,

CVS Caremark pursues ‘purposeful innovation’

NEW YORK — Flexibility and an unmatched breadth of assets position CVS Caremark Corp. to thrive in a changing health care landscape, executives said at the company’s annual analyst day event. CVS executives forecasted adjusted earnings per share next year of $4.36 to $4.50, up 10.25% to 13.75% (excluding a gain from a 2013 legal

Tuffin to head Kroger retail units

CINCINNATI — Kroger Co. has promoted Mark Tuffin to senior vice president of retail divisions. He succeeds Michael Ellis, who became Kroger’s president and chief operating officer on January 1. Tuffin, 53, had been president of the company’s Smith’s Food and Drug Stores division since 2011. He brings more than 32 years of grocery industry