Gone are the days when significant events either triggered or highlighted a chain drug industry gathering. The occasional acquisition, the random executive promotion, an excursion into a new market, a new format experiment — these are largely relics of another age. Rather, today’s industry gatherings turn on people, not on events. Drawing the right crowd
Stefano Pessina, executive chairman of Alliance Boots, earlier this month demonstrated the dynamism that has made him one of the world’s most accomplished businessmen, forging a deal that will take his company into the burgeoning Latin American marketplace. The agreement to purchase Farmacias Benavides, which operates some 1,000 stores in Mexico, and Farmacias Ahumada, which
Personalized medicine is broadly defined as the individual customization of health care — medical decisions, practices or treatment. For the community pharmacy industry, the impact of this trend is an over-the-horizon disruptor that will impact, among other things, the work flow in the retail pharmacy, the expectations of the pharmacists and the industry operating model.
NEW YORK — Even as U.S. health care expansion brings new opportunities for drug chains, a transformation under way in the pharmacy business is presenting new challenges. The generic drug wave and the boom in specialty drugs are reshaping the pharmaceuticals sector, industry observers say. That’s pushing chain drug retailers to rethink their traditional prescription
WASHINGTON — John Standley, chairman and chief executive officer of Rite Aid Corp., knows firsthand the significance of the National Association of Chain Drug Stores to his company and community pharmacy overall as he gets set to take the reins as NACDS chairman. John Standley Standley, announced as the new NACDS chairman on Monday, succeeds Bob
It’s time for the retail industry to wake up, open its wallet and ditch those loyalty cards. A little too strong? OK, then how about committing to some major out-of-the-box thinking on how to make these programs actually work — because it certainly is not happening now. For decades, loyalty cards have been pushed by
ARLINGTON, Va. — Associations stand at the nexus of business and government, a critical juncture for retail pharmacy operators at a time when the nation’s health care system is experiencing the most sweeping changes since the mid-1960s, notes Steve Anderson, president and chief executive officer of the National Association of Chain Drug Stores. Steve Anderson
WOONSOCKET, R.I. — For most executives, being chosen to head one of the world’s great drug chains would constitute an end point, the culmination of a notable career in mass market retailing. For Helena Foulkes, who became president of CVS/pharmacy in January after distinguishing herself in a variety of roles during 22 years with the
WOONSOCKET, R.I. — It is never easy for a retailer to walk away from business, especially when $2 billion in sales are on the line. CVS/pharmacy recently did just that. Acting on the conviction that it is an anomaly for a health care provider to sell tobacco products, the company decided to stop carrying cigarettes
CAMP HILL, Pa. — Two acquisitions have bolstered Rite Aid Corp’s integrated health care offerings. The chain this month announced the purchase of the RediClinic chain of walk-in clinics in Texas as well as the acquisition of Health Dialog Services Corp., a provider of health coaching, shared decision making and analytics. The purchase price of
BENTONVILLE, Ark. — Labeed Diab has been named senior vice president and president of health and wellness at Walmart. He succeeds John Agwunobi, who is leaving the company after holding the post for almost seven years. Diab has a strong background in operations and health care. He most recently led the Wal-mart U.S. Midwest division
WASHINGTON — Sylvia Mathews Burwell, the former Walmart Foundation president nominated to be the next secretary of the Department of Health and Human Services (HHS), is expected to be a new lightning rod over the Affordable Care Act. Burwell, director of the Office of Management and Budget (OMB), was named by President Obama to succeed
DEERFIELD, Ill. — Walgreen Co. has signed an agreement that gives Water Street Healthcare Partners a majority interest in Take Care Employer Solutions LLC, the Walgreens subsidiary that manages more than 360 work site health centers nationwide. Water Street, a strategic investor focused exclusively on the health care industry, has also signed an agreement to
GOUVERNEUR, N.Y. — Regional pharmacy chain Kinney Drugs is changing its corporate name. After doing business for more than 100 years as Kinney Drugs Inc., the company will now be known as KPH Healthcare Services Inc. Kinney noted that there have been no changes in the company’s ownership structure or in its operations. The name
