TORONTO — When the acquisition of Shoppers Drug Mart (SDM) by Loblaw Cos. was concluded in March of this year, no changes in the senior management of either company were made, but commentators speculated that some significant shifts in responsibility would soon follow. Those predictions proved justified. TORONTO — Last month Loblaw announced changes in
WOONSOCKET, R.I. — CVS Caremark Corp. has agreed to acquire Miami-based Navarro Discount Pharmacy, the largest Hispanic-owned drug chain in the United States. Terms of the acquisition transaction, which is subject to customary closing conditions, were not disclosed. The acquisition will give CVS Navarro’s 33 drug stores and Navarro Health Services, a specialty pharmacy that
DEERFIELD, Ill. — Kermit Crawford, president of pharmacy, health and wellness at Walgreen Co., will retire at the end of this year. He will, however, continue to serve as a senior counselor to president and chief executive officer Greg Wasson. “Words cannot capture the magnitude of Kermit Crawford’s impact on Walgreens and our people, on
BENTONVILLE, Ark. — Walmart has promoted Greg Foran to the position of president and chief executive officer of Walmart U.S., replacing Bill Simon. Simon, who had held that post at Walmart’s flagship division since June 2010, is slated to transition out of the company. He will remain available on a consulting basis for six months.
MINNEAPOLIS — Target Corp. has appointed Brian Cornell chief executive officer and chairman of the board. Cornell is the first outsider to occupy the CEO’s position at Target. He most recently was CEO of PepsiCo Inc.’s Americas Foods division and previously served as president and CEO of Sam’s Club. “As we seek to aggressively move
CAMP HILL, Pa. — Darren Karst has been named executive vice president and chief financial officer of Rite Aid Corp. He succeeds Frank Vitrano, who is retiring. According to Rite Aid, Vitrano will retire in September 2015. Until then, he will retain chief administrative officer responsibilities for information technology, real estate and indirect procurement functions.
DEERFIELD, Ill. — Walgreen Co. has expanded its Balance Rewards loyalty program with new features that promote and support healthful behaviors. The new initiative includes behavior change training based on a methodology developed by psychologist B.J. Fogg. The new “Balance Rewards for healthy choices” program is designed to help participants modify or reduce risky behaviors
WOONSOCKET, R.I. — CVS/pharmacy has become the first pharmacy in the nation to earn the new Community Pharmacy accreditation from URAC, the leading health care accreditation organization that establishes quality standards for the health care industry. All CVS/pharmacy and Longs Drug Store locations nationwide have earned this accreditation. URAC’s Community Pharmacy Accreditation program was developed
MISSISSAUGA, Ontario — Warren Jeffery has returned to Rexall Pharma Plus as chief operating officer. He had retired from the chain in 2011 as chief development officer and interim chief merchandising officer. Jeffery will lead store operations, merchandising, real estate and acquisitions with the objective of accelerating growth. “Rexall’s strategy has never been more compelling,
WASHINGTON — Conflicting court rulings on the Affordable Care Act are unlikely to have an immediate impact on pharmacies, says Don Bell, senior vice president of legal affairs and general counsel at the National Association of Chain Drug Stores. The District of Columbia appeals court’s decision that tax credits cannot be offered to individuals purchasing
CHESAPEAKE, Va. — In a move that caught the investment community by surprise, Dollar Tree Inc. has agreed to acquire Family Dollar Stores Inc. for about $9.2 billion in cash and stock. The transaction, which has been approved by the boards of directors of both chains, is expected to close by early 2015. If completed,
FLINT, Mich. — Diplomat Specialty Pharmacy last month filed for a $100 million initial public offering and acquired MedPro Rx Inc., which is focused on specialty infusion therapies, including immune globulin. Diplomat, which had sales of $1.6 billion in the year ended March 31, filed with the Securities and Exchange Commission in early July to
DEERFIELD, Ill. — More patients are turning to retail clinics for chronic and preventive care, a new Walgreen Co. study shows. Patient loyalty is climbing with usage, the research found, with half of those who utilize clinics making return visits. The study notes that the percentage of visits to Walgreens Healthcare Clinics for preventive services,
Last month Walmart hosted a gathering of suppliers that can be accurately labeled unique in the annals of retailer-supplier meetings. Held at Walmart’s Bentonville, Ark., offices, the meeting brought some 500 suppliers and potential suppliers from 46 states to Bentonville, to pitch products or, more accurately, to seek the opportunity to pitch products to the