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Issue 08-25-2014

Walgreens pulls trigger on merger with Alliance Boots

DEERFIELD, Ill. — Walgreen Co. has taken the second and decisive step toward completing its acquisition of Alliance Boots GmbH, exercising its option earlier this month to acquire the remaining shares of the global pharmaceutical wholesaler and retailer. Although the form of the merger disappointed many Walgreens investors — mainly with the company’s decision not

In the end, Walgreens decides against inversion

NEW YORK — Initial investor reaction to the specifics of the merger between Walgreen Co. and Alliance Boots GmbH was intense disappointment, as shareholders drove down Walgreens’ stock price by 18% in two days. Mounting speculation had swirled in the financial press about the form the deal would ultimately take as a result of intense

Transaction accompanied by exec shifts at Walgreens

DEERFIELD, Ill. — Walgreen Co. has made several management changes as the company moves forward with its partnership with Alliance Boots, including appointing Timothy McLevish as chief financial officer and naming Richard Ashworth as president of retail and pharmacy operations. Mark Wagner, currently president of community management and store operations, gets a new role as

Majority of Americans take a dim view of ACA

WASHINGTON — Negative views of the Affordable Care Act have reached an all-time high, bucking several months of gradual increases in the popularity of the law. Fifty-three percent of adult Americans now see the Affordable Care Act in a negative light compared with 45% in June, according to a monthly tracking poll by the Kaiser

Loss of a key member won’t derail CACDS

TORONTO — The Canadian Association of Chain Drug Stores (CACDS) is pressing ahead with a five-year plan to represent the business of neighborhood pharmacy, even as its largest member readies to exit the group. CACDS members are fully committed to the plan, notwithstanding the departure next year of Shoppers Drug Mart (SDM) under new owner

Drug chains stand out in July

NEW YORK — Although overall retail sales flattened out in July, it was a good month for at least two of the nation’s largest drug chains. Almost obscured by the media focus on its acquisition of Alliance Boots GmbH, Walgreen Co. beat Wall Street’s expectations while reporting a 6.1% increase in sales to $6.39 billion.

Family Dollar draws another suitor: Dollar General

NEW YORK — Dollar General Corp. has entered the bidding for Family Dollar Stores Inc., making an $8.95 billion offer for the discount store chain that exceeded Dollar Tree Stores Inc.’s $8.5 billion bid. “For Family Dollar shareholders, our proposal is financially superior to the current transaction agreement with Dollar Tree and would provide Family

CVS strengthens private-label beauty care lineup

WOONSOCKET, R.I. — CVS/pharmacy has expanded its private-label beauty care offerings with the premium Makeup Academy brand. Developed by makeup professionals and beauty experts, the comprehensive line includes more than 145 products in three categories — lip care, false eyelashes and makeup brushes. The items promise fashion-forward colors, luxurious textures and pro-performance designs. “Makeup Academy

Cardinal Health, Fred’s sign Rx distribution deal

MEMPHIS, Tenn., and DUBLIN, Ohio — Fred’s Inc. and Cardinal Health Inc. have concluded a multiyear agreement by which Cardinal will be the primary supplier of branded and generic drugs to all of the discount retailer’s 360-plus in-store pharmacies and EIRIS Health Services. The partnership is intended to provide a platform for the rapid growth

Health Mart aims to ‘level playing field’

ORLANDO, Fla. — Methods by which Health Mart is helping support the operations of independent pharmacies were explored last month at McKesson Corp.’s ideaShare 2014. As part of the trade show, McKesson, which owns the pharmacy franchise, provided Health Mart members with an overview of recent investments in the retail network and introduced four new

Good Neighbor Pharmacy members get insights on health reform

LAS VEGAS — The industry changes that independent pharmacies must navigate through as a result of health care reform were among targets discussed at ThoughtSpot 2014, AmerisourceBergen Corp. and Good Neighbor Pharmacy’s annual trade show. The four-day program, held earlier this month, featured exhibits, networking sessions, workshops and training designed to provide independent pharmacists with

CVS opens first store in Washington state

RENTON, Wash. — CVS/pharmacy has opened its first store in the Pacific Northwest. The 12,500-square-foot store made its debut earlier this month in the Seattle suburb of Renton. The chain drug store operator has two more stores planned for the region this year, in Poulsbo, Wash., and in the Seattle suburb of Burien. In addition,

Walgreens clinics to debut in Dallas

DEERFIELD, Ill. — Walgreen Co. is expanding its Healthcare Clinic retail locations with entry into the Dallas/Fort Worth market. The company plans to bring 13 Healthcare Clinics at selected Walgreens locations to the Dallas Metroplex by the end of 2014. The first clinic opened July 28 in Southlake, Texas. “Our expansion into Dallas/Fort Worth reflects

James named Kmart president

HOFFMAN ESTATES, Ill. — Sears Holdings Corp. has appointed former Tesco PLC executive Alasdair James to the new position of president and chief member officer for Kmart. James is responsible for driving the Kmart format strategy, managing the Kmart profit-and-loss statement, and for aligning the discount chain’s merchandising and marketing with the needs and desires