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%
Cannabis is best known for its recreational and medical uses, but cannabis-derived ingredients are featuring in more and more products sold in stores and online. The legal cannabis market is burgeoning: Total worldwide cannabis spending is expected to be worth $24.4 billion in 2019 — and is forecast to reach $63.5 billion by 2024, a
Five years ago next month, CVS Health stopped selling cigarettes and other tobacco products. The move — a bold departure for a pharmacy chain in this country, one that sadly has yet to be matched by any of the company’s peers — was intended to discourage smokers from indulging in a habit that is clearly
The news out of Rhode Island that Judy Sansone, chief merchant at CVS Pharmacy, will shortly retire signals more than the end of a remarkable and productive retail career. It marks the end of the way chain drug stores have done business since they eclipsed independent pharmacies as the outlet of choice among drug store
In a recent column, Chain Drug Review editor David Pinto described the 2019 NACDS Annual Meeting this way: “In an ever-changing retail universe, a world where today’s bright hope is tomorrow’s used-to-be, the [NACDS] Annual Meeting, held each spring, remains the standard by which retail meetings are, or should be, judged. “To borrow a well-known
There is a growing public focus on the potential for legitimate pharmacological uses of cannabis. Much of this focus has been directed toward medical marijuana — the use of marijuana in plant form or its basic extracts. Although some states have legalized its use, the Food and Drug Administration has not approved marijuana in plant
The last three years have been very tough for retail pharmacies. Reimbursement rates have declined, formularies are more complex, preferred networks are becoming more aggressive, access to specialty drugs that are driving innovation is still limited, generic drug prices are deflating, and DIR fees are consuming more than 2% of sales revenue. At the same
As specialty drugs grow in importance and prominence, this is an ideal moment to consider the essential and evolving roles retail pharmacies play in this significant health care category. Whether patients are using specialty treatments to cope with a rare cancer or some of the most common chronic illnesses, including psoriasis, rheumatoid arthritis (RA), Crohn’s
The continued digitization of electronic health records (EHRs) and growth in the number of wearables and Internet of Things (IoT) devices are rapidly expanding the volume of patient data. This increased digitalization offers patients more access to their health histories and the ability to track and take active responsibility for their health. EHRs also hold
Now is the time for Food and Drug Administration reforms designed to dramatically increase the number of prescription-to-O-T-C switches in the U.S. At a time when both political parties are pushing for transparency and pricing reform, the opportunity to align multiple agendas that benefit consumers, retail pharmacies and the health care system overall is too
Perhaps the best way to begin the complicated story of generic drugs, and how using a data-based approach could help pharmacists, is to tell a bit about the rise of generics. How did we reach a point where many branded drugs are actually cheaper than generics for holders of Medicare Part D? First, it should
In Dr. Seuss’ (Theodor Geisel’s) last major book, Oh, the Places You’ll Go!, he put forth advice for recent graduates from almost any school: You have brains in your head. You have feet in your shoes. You can steer yourself. Any direction you choose. And you’re on your own. And you know what you know.
In 2018, five national pharmacy associations and a growing number of state associations launched Pharmacists for Healthier Lives, (PfHL), a public education campaign targeting influential groups of consumers and health professionals. The campaign was described in the February 8, 2019, issue of Chain Drug Review. This article drills deeper into the questions of why such
An aging population, rising drug costs, DIR fees, value-based insurance plans, disruptive new market players and new specialty drugs are just a few of the rapidly evolving trends that continue to put pressure on the industry and pull pharmacy staff in directions that take time away from consultative patient care. Through all the change, the
