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Issue 04-24-2017

Kavthekar named Diplomat Pharmacy CFO

FLINT, Mich. — Starting May 1, one of the leading independent specialty pharmacies will have a new chief financial officer. Diplomat Pharmacy recently announced the appointment of Atul Kavthekar as CFO and treasurer. Kavthekar, according to Diplomat, has demonstrated financial and strategic leadership in his previous roles in the technology, health care and investment banking

Coalition trains fire on DIR fees under Medicare Part D

Coalition trains fire on DIR fees under Medicare Part D

ALEXANDRIA, Va. — A group 118 health care stakeholders, including chain drug retailers, have called on Congress to crack down on direct and indirect remuneration (DIR) fees in Medicare Part D. Mobilized by the National Community Pharmacists Association (NCPA), the broad coalition sent letters to the Senate and House of Representatives to voice their support

WBA, Prime Therapeutics tab leaders for joint venture

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) and Prime Therapeutics LLC have completed the formation of a combined central specialty pharmacy and mail service company, a move that was first announced last August. The leadership team of the new enterprise, AllianceRx Walgreens Prime, has also been ­revealed. Joel Wright, formerly divisional vice president for

HealthWATCH for Business introduced by SDM

TORONTO — Shoppers Drug Mart (SDM) is launching a drug plan focused on better managing chronic conditions to help companies and their employees save 5% to 10% on their existing plan. The HealthWATCH for Business plan will integrate with Canadian employers’ current health coverage. “We understand that employers are facing unprecedented financial pressures due to

CVS boutiques spotlight Korean beauty products

WOONSOCKET, R.I. — CVS Pharmacy this month is introducing beauty boutiques in 2,100 of its stores, featuring more than 100 new products from South Korea, many exclusive to CVS. The K-Beauty HQ boutiques will feature a collection of beauty brands curated by Alicia Yoon, a trailblazer in the K-Beauty cosmetics and skin care trend that

Walgreens upping ante in beauty

Walgreens upping ante in beauty

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) is reaping success with its beauty differentiation program and is now planning to expand the initiative to more than 1,000 additional Walgreens stores by the end of 2017 while introducing more exclusive brands into the assortment. The first phase of the Walgreens beauty differentiation program’s rollout called

High court rules on card fees

WASHINGTON — Two recent Supreme Court decisions offered good news to retailers regarding their ongoing fight over the fees they pay on credit and debit card transactions. Late last month the Supreme Court declined to hear an appeal that sought to reinstate a $7.25 billion antitrust settlement of price-fixing charges against MasterCard Inc. and Visa

Alphega Pharmacy looks to the future

MONTE CARLO, Monaco — The Alphega Pharmacy network, part of the Alliance Healthcare arm of Walgreens Boots Alliance Inc. (WBA), recently held its eighth European convention here, attracting more than 1,200 attendees from nine different countries. Based on the theme “Close to You,” the gathering featured presentations on health care innovation, global market developments and

Where did the chain drug store shopper go?

Where did the chain drug store shopper go?

If you do business in the drug channel, the question of what happened to drug store traffic over the last few months is one I’m sure you’ve been seriously puzzling over. That and several others: Was it an aberration? When will traffic return? Will it return? Why did it happen? And, oh yes, how should

Drug chains respond to assault on model

Drug chains respond to assault on model

New formats are popping up throughout the chain drug industry, as retailers seek to overcome the sales malaise that has ensnared the industry this year. To recapture lost momentum, chain drug retailers are testing new store sizes, new merchandise assortments, new product locations within stores and new store concepts, sometimes all at once. It’s far

Chain drug industry adapts amid uncertainty

Chain drug industry adapts amid uncertainty

NEW YORK — These are uncertain times for chain drug stores. The turbulent political atmosphere surrounding the Affordable Care Act, combined with the undetermined outcome of Walgreens Boots Alliance Inc.’s (WBA’s) acquisition of Rite Aid Corp., is making 2017 one of the more unsettled years for the industry in recent memory. The ACA “is in

Public policy challenges take center stage

Public policy challenges take center stage

CVS Health earlier this month named Tom Moriarty to the new position of chief policy and external affairs officer. As explained by president and chief executive officer Larry Merlo, the rationale behind the creation of the role is to “deliver an integrated approach to policy development and external engagement so the company can contribute to