In today’s rapidly changing landscape, retail pharmacies are finding it tougher to survive, let alone thrive. Gross profit challenges are popping up everywhere — new competitors, generic drug price deflation, Medicare Part D plans pushing patients toward in-network or mail order pharmacies — and all of this before direct and indirect remuneration (DIR) fees. For
As drug stores remake themselves under the banner of health and wellness, they are taking a second look at anything that may strike consumers as off-brand. In this regard, one major loose end continues to be the center of the store, packed as it is with potato chips, soft drinks, candy and other items widely
It’s no secret that the retail industry is experiencing unprecedented disruption and a decline in foot traffic as a result of the proliferation of e-commerce and the subsequent migration of products from physical stores to online marketplaces. Consumers continue to gravitate toward online shopping for the sake of convenience. In fact, Global Market Development Center
Today’s beauty consumers aren’t like those of old. They don’t just want to be sold a “product.” Instead, they now expect brands to understand them intimately — and to use that knowledge to go beyond traditional manufacturing and deliver services and experiences (and, yes, products) that are entirely “right” for each moment in their lives.
The self-care movement is playing a key role in reshaping health care in a way that drug store retailers and manufacturers cannot afford to ignore. Recent data from The Conference Board Global Consumer Confidence Survey, in collaboration with Nielsen, shows that 18% of Americans reported health as a top concern, next only to the economy
FLINT, Mich. — Diplomat Pharmacy is considering a sale or merger after seeing revenue declines in its PBM and specialty segments in the second quarter ended June 30. The company’s board ordered the exploration of “strategic alternatives” after Diplomat’s quarterly revenue dropped 9% from the year-ago period to $1.29 billion. Besides a sale or merger,
TORONTO — Shoppers Drug Mart is innovating across its business to protect the balanced sales equation that makes it the envy of its counterparts in the U.S. Like American drug chains, SDM is known for pharmacy and an expanding array of health care services, but it is also a leader in beauty in Canada and
WOONSOCKET, R.I. — CVS Health announced it will be taking another step forward in its efforts to remove chemicals of concern to consumers by eliminating oxybenzone and octinoxate from nearly 60 CVS Health brand sunscreen products under SPF 50 by the end of 2020. This decision is the latest advancement of the company’s chemical management
The legacy business model in consumer and retail is the pipe through which value is generated upstream and delivered to consumers downstream. As everyone is aware, a powerful alternative has emerged. Today “platform” enterprises such as Alibaba, Amazon, Tencent and Uber are dominant business titans. Platforms exist not merely to deliver goods and services, but
ORLANDO, Fla. — AllianceRx Walgreens Prime has announced additional medicines available to patients with certain rare, chronic and complex conditions. Known as limited distribution drugs (LDDs), these specialty medicines treat certain types of multiple sclerosis (MS), Lambert-Eaton myasthenic syndrome (LEMS) and a form of non-Hodgkin’s lymphoma (NHL), among other complex conditions. Since last spring, the
WOONSOCKET, R.I. — CVS Pharmacy announced earlier this month that customers will be able to enroll in CarePass at participating CVS Pharmacy locations nationwide, or online at CVS.com/carepass. The first loyalty and membership program that offers free national pharmacy delivery on eligible prescriptions, CarePass gives its members a multitude of benefits when they join for
It is seldom that a trend benefits all key players in a given market, but the proliferation of self-care and the growth of the over-the-counter medication market is one of those trends. Drug retailers, consumers and the U.S. health care system at large have all benefited from the retail availability of nonprescription remedies. And the
MORRISTOWN, N.J. — The Nicholas Hall Group of Companies, in association with Everything Health, held its North American Consumer Healthcare Conference here in June. With attendees from key consumer health care players and stakeholders, and speakers from companies including Bayer Corp., the Consumer Healthcare Products Association (CHPA), Google Inc., GlaxoSmithKline PLC, Perrigo Co. and Johnson
Today’s product landscape is highly competitive. Speed-to-market continues to be an important product launch factor, but it isn’t everything. Often, overly eager companies introduce a new CPG item too quickly while overlooking critical steps that could prevent costly mistakes. In fact, according to research conducted by IRI, it is estimated that between 60% and 80%
