CVS Health and Walgreens are commonly referred to as the leaders in the drug store business. The designation usually is meant to convey the scale of their operations compared to that of their competitors in the trade class (sales at Rite Aid Corp., the third-largest drug chain, are less than a quarter of those of
One of the great paradoxes in medicine today is the reality that drug prices are rising at the lowest level in years, yet both patients and employers are feeling more of a squeeze on drug costs than ever before. Ironically both of these trends — slowing growth, rising pain at the pharmacy counter — have
BOISE, Idaho — Mark Panzer, chairman of the National Association of Chain Drug Stores, has been involved with the chain drug business for over 40 years. During that time, he has seen the industry transformed, above all by consolidation, but also in response to broader changes in retailing and consumer behavior as well as changing
BOISE, Idaho — Albertsons Cos. has withdrawn its plan for an initial public offering. In its filing with the Securities and Exchange Commission, Albertsons noted that the registration statement for the offering was originally filed by the company on July 8, 2015, and was most recently amended on November 8, 2017. Albertsons said in its
WOONSOCKET, R.I. — CVS Health has revealed a new, comprehensive program designed to combat rising prescription drug prices and help patients save money on their medications. The new initiatives are being launched against a background of ongoing increases in manufacturers’ list prices for drugs and a growing percentage of Americans who have high-deductible health plans.
TORONTO — Canada is aging, with nearly 1,000 citizens a day turning 65, says Scott Wilks, vice president of Shoppers Home Health Care and Wellwise at Shoppers Drug Mart (SDM). And for the first time more Canadians are over 65 than under 15. To serve these older Canadians better, SDM has opened its second Wellwise,
WOONSOCKET, R.I. — CVS Health announced a new initiative focused on early identification of kidney disease and home dialysis for individuals with chronic kidney disease. CVS explained that the program will introduce new home hemodialysis technology that should position the company as a “positive disruptor” in the field, with the potential to “help reshape and
WASHINGTON — The Trump administration has shifted more control over the Affordable Care Act marketplaces to the states and given consumers more leeway to avoid participation this year. A new final rule issued recently by the Centers for Medicare and Medicaid Services (CMS) relaxes certain regulations regarding ACA health plans in order to drive competition
NEW YORK — This isn’t your father’s chain drug industry. It’s not even your older brother’s. The mergers of CVS Health and Aetna Inc. and Rite Aid Corp. and Albertsons Cos. are recasting two of the top three players and, in the process, redefining what it means to be a drug store operator. “Prescriptions, O-T-Cs
ARLINGTON, Va. — In the currently chaotic public policy environment, the ability of the National Association of Chain Drug Stores to remain both focused and nimble in support of its industry has been a huge asset to the NACDS membership. As NACDS president and chief executive officer Steve Anderson pointed out earlier this year, the
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
