A little over 40 years ago, the first issue of Chain Drug Review appeared. Founded by publisher Susan Schinitsky and editor David Pinto, the publication was positioned, as Pinto said in his first column for Chain Drug Review, as a “biweekly newspaper written and edited specifically for the chain drug industry.” The thrust of the
NEW YORK — Now more than ever, the media landscape is turning an increasingly critical eye towards pharmacy benefit managers — the health care system’s favorite scapegoats. As health care costs continue to rise at staggering rates, these organizations can help their clients save on drug costs. However, it’s a complicated and confusing minefield in
The appointment of Jim Donald to succeed Bob Miller as chief executive officer of Albertsons Cos. earlier this month symbolizes the company’s ability to maintain its equilibrium when confronted with adversity and find new ways forward. The food/drug combination store operators’ strategic plan, which was centered on a merger with Rite Aid, was upended in
DIR (direct and indirect remuneration) fees are increasing — creating greater and greater financial challenges for retail pharmacies. In the second quarter of 2018, DIR accounted for 1.13% of sales and, year-to-date, it is trending at 1% of sales. For the same period last year, DIR was running at 0.9% of sales. On top of
Last month investment firm Piper Jaffray projected Amazon will more than triple its advertising business to some $16 billion by 2021, largely based on the retail giant’s position as “the world’s largest product search engine.” While Google may take exception to that particular designation, it is undeniable that Amazon has rapidly become a major advertising
When America reaches its 250th anniversary in 2026, Millennials — those born between 1981 and 1997 — will represent the largest and most influential adult generational cohort in America, with a profound opportunity to realign the nation’s priorities as they enter their prime years and influence the shape of the future health care landscape. Millennials
CAMP HILL, Pa. — Rite Aid has selected Havas North America as its new agency of record for brand strategy and creative. Havas will form a team known as the “Well Village,” which will pull from across the agency’s network in North America and will work with Rite Aid on a range of marketing services.
WASHINGTON — CVS Health Corp.’s planned acquisition of Aetna Inc. is close to getting the go-ahead from federal regulators, The Wall Street Journal reported early this month. Antitrust regulators at the Department of Justice were also said to be close to signing off on another megadeal in the health care sector; insurer Cigna Corp.’s planned
COSTA MESA, Calif. — Good Neighbor Pharmacy ranks highest among brick-and-mortar chain drug stores for customer satisfaction, with a score of 903, in the recent J.D. Power 2018 U.S. Pharmacy Study. Ranking second behind the AmerisourceBergen Corp. network was McKesson Corp.’s Health Mart (890). Rite Aid Corp. was third (846). Sam’s Club ranked highest among
NEW YORK — Faced with unprecedented change in customer behavior and expectations and the growing challenge of e-commerce, retailers across channels are testing new formats and fine-tuning existing store models. The innovation is being driven by a number of different factors, including the hope of luring emerging customer segments, the desire to penetrate new geographic
DENVER — The chain pharmacy industry is going through a period of dramatic transformation, according to Steve Anderson, president and chief executive officer of the National Association of Chain Drug Stores. During the business program at the NACDS Total Store Expo here last month, Anderson highlighted the emerging trade war stemming from President Trump’s tariffs
The high value of pharmaceutical shipments has traditionally meant that all parties in the chain drug industry were primarily concerned with quality. They needed a reliable, transparent solution. Given that shipping represented a tiny percentage of drug costs, price was a lesser concern. But recently shipping rates have increased sharply. Is there anything the industry
The who, why, what, where and how of health care retail are changing faster and more dramatically than for perhaps any segment of consumer packaged goods. This disruption has certainly posed challenges and translated into declines for some, but it has also opened new, exciting opportunities for innovative marketers who recognize, embrace and take advantage
Retail in the future will look nothing like what we see today. A new role for physical retailers is long overdue, and only a few have satisfied the need for change. Historically, one of the primary challenges facing North American brick-and-mortar retail pharmacies and their suppliers has been the inability to encourage shoppers to purchase
