Two game-changing personnel shifts were announced last month: one stunning in its inexplicable surprise, immediate impact and long-term implications; the second unfortunate and perhaps, in the end, inevitable. Tom Ryan shocked the chain drug retailing community by announcing his intention to retire next year from CVS Caremark, the company he joined 36 years ago right
As recent developments in several countries attest, traditional drug stores confront an array of challenges that have the potential to weaken their competitive position vis-à-vis other community pharmacy operators and threaten their financial viability. Pharmacies in Ontario are awaiting final word on the provincial government’s plan to slash reimbursements for prescription drugs. Outlined in draft
WOONSOCKET, R.I. — After a dozen years at the helm of CVS Caremark Corp., Tom Ryan plans to retire next year. Ryan, who has been CVS Caremark’s president and chief executive officer since 1998 and its chairman since 2007, is slated to step down at the company’s annual shareholders meeting next May. He is expected
PALM BEACH, Fla. — The relationship between pharmacists and their patients is critical to improving Americans’ well-being and making the country’s health care system more efficient, incoming National Association of Chain Drug Stores chairman Larry Merlo told attendees at the association’s Annual Meeting here last month. “As an industry, we are positioned to help control
CAMP HILL, Pa. — Rite Aid Corp. has launched its wellness+ customer rewards program nationwide, offering a combination of health and wellness benefits and member-only discounts. The program will be supported by a national television, radio, circular and digital advertising campaign. Members accrue points with eligible pharmacy and store purchases to get free health screenings
TORONTO — As of presstime, May 15 was shaping up to be a day of destiny for community pharmacy in Ontario. It was the date on which Deb Matthews, Ontario’s minister of health and long-term care, had said she would implement changes to the regulations that govern the level of remuneration pharmacies receive for their
BELLEVUE, Wash. — Online retailer drugstore.com is exiting the pharmacy business. Earlier this month the company agreed to sell its pharmacy operation to BioScrip Inc.’s BioScrip Pharmacy Services subsidiary for nearly $11 million and establish a strategic partnership in which BioScrip will fill online prescriptions ordered through drugstore.com for the next five years. Online pharmacy
TORONTO — At Shoppers Drug Mart’s (SDM’s) annual meeting here earlier this month, chairman David Williams, president and chief executive officer Jürgen Schreiber, and executive vice president and chief financial officer Brad Lucow were able to report that despite the recession 2009 was another record-breaking year for the retailer in terms of almost every metric
WOONSOCKET, R.I. — Executive vice president and chief marketing officer Helena Foulkes has taken on a new leadership role in CVS Caremark Corp.’s pharmacy benefits management business. Reporting to Caremark Pharmacy Services president Per Lofberg, Foulkes will lead PBM product innovation and marketing, uniting into one team the key functions of marketing, member experience, product
DEERFIELD, Ill. — Cheryl Pegus has been named chief medical officer at Walgreen Co. Pegus, 46, has over 18 years of clinical practice and industry experience. Previously, she was general manager and chief medical officer for SymCare Personalized Health Solutions Inc., which provides care management solutions that use remote monitoring to help control health care
SKILLMAN, N.J. — Frank Maione will retire in the fall as U.S. chief customer officer at Johnson & Johnson. A 34-year industry veteran, Maione joined J&J when it acquired Pfizer Consumer Healthcare in 2006. As chief customer officer, he has worked to integrate six consumer sales organizations into one customer-facing team. Over the coming months
Over three very special days at the end of April, the National Association of Chain Drug Stores staged one of the memorable retailing conventions of recent times, a thrilling and productive spectacle that brought together the leading retailers and suppliers in America and gave them both the stage and latitude to do what they do
Research-based findings supporting retail pharmacy’s capacity to improve the lives of patients and limit overall health care expenditures are finally beginning to attain critical mass. The latest bit of good news for the industry, which for far too long relied on anecdotal evidence instead of quantitative data to assert its rightful place in health care,
NEW YORK — The biggest retailers got stronger, but all in all the chain drug sector turned in an impressive performance in 2009. CVS Caremark Corp. wrapped up its blockbuster acquisition of Longs Drug Stores, fortifying its position as one of the nation’s leading drug chains and, along with its burgeoning pharmacy benefit management and
