MINNEAPOLIS — UnitedHealth Group has tapped former GlaxoSmithKline PLC (GSK) chief executive officer Sir Andrew Witty as the next CEO of Optum, its health services, technology and pharmacy benefits management unit. The appointment is effective July 1. Witty, 53, will succeed Larry Renfro, who is set to lead UnitedHealth Group’s enterprise growth efforts and Optum’s
SEATTLE — Amazon.com has hired Taha Kass-Hout, the Food and Drug Administration’s first chief health informatics officer, according to published reports. Kass-Hout will serve in a business development role with the company’s Amazon Grand Challenge team, the reports say, and will concentrate on developing projects for the health care market. His exact mission, like the
WOONSOCKET, R.I. — CVS Health announced plans to provide $10 million in support of programs to dissuade youths from smoking as the company kicked off year three of its “Be The First” campaign to help deliver the nation’s first tobacco-free generation. “After just two years, we’re encouraged by our contributions to a continuing decline in
NEW YORK — Pharmacy benefit managers have become the target of state legislation around transparency, with lawmakers attempting to increase regulation and protect patients. Lawmakers believe that increasing transparency within big PBMs would benefit the industry as well as patients through the institution of clear metrics and incentives that would be aligned with the services
TORONTO — The premier of Ontario, Kathleen Wynne, has promised that the provincial Liberal party will make prescription drugs free for residents age 65 and older if it is reelected in June. Pharmacy organizations in Canada hailed the announcement. “Providing prescription drugs at no cost for millions of seniors is going to make life more
WASHINGTON — Three senators last month introduced legislation that they say will bring more transparency to prescription drug pricing. Sens. Susan Collins (R., Maine), Claire McCaskill (D., Mo.) and Debbie Stabenow (D., Mich.) introduced the Patient Right to Know Drug Prices Act (S. 2554) and the Know the Lowest Price Act (S. 2553), which would
CAMP HILL, Pa. — Rite Aid Corp. has completed the transfer of 1,932 stores purchased by Walgreens Boots Alliance Inc. The transfer of three distribution centers and related inventory is expected to begin after September 1. The majority of the closing conditions of WBA’s $4.375 billion acquisition of the stores and warehouses have been satisfied,
WOONSOCKET, R.I. — CVS Health has moved a step closer to completing its acquisition of insurer Aetna Inc. after stockholders of both companies overwhelmingly approved the deal. The combination must still pass the scrutiny of regulators, however. More than 98% of CVS shares were voted in favor, while about 97% of Aetna shares voted to
NEW YORK — Walmart is reportedly in talks to acquire health insurer Humana Inc. in a move to keep up with the consolidating health care marketplace and be competitive with Amazon.com. The proposed deal, reported by The Wall Street Journal, would squarely position a Walmart-Humana combination against the CVS Health-Aetna union that is expected to
WASHINGTON — Last month, President Trump unveiled his plan to fight the nationwide opioid crisis. The departments of Health and Human Services (HHS) and Justice are the two agencies charged with leading the effort and executing the president’s plan. The goals of the new plan, according to the White House, are threefold: to reduce drug
BOISE, Idaho — Albertsons Cos. is launching a new digital marketplace for food and wellness products, and the retailer is inviting suppliers of new and niche brands to be a part of it. “At Albertsons Cos., we have always prided ourselves on our wide assortment,” said Narayan Iyengar, who joined the company last year as
WOONSOCKET, R.I. — Former Eli Lilly and Co. finance chief Derica Rice has been named president of CVS Caremark, the pharmacy benefits management business of CVS Health. He succeeds Jon Roberts, who was promoted last year to the newly created position of chief operating officer of CVS Health. Rice will have day-to-day leadership and oversight
