Drug Store News articles from January 2007

Drug Store News archives from January 2007

NACDS taps NRA's Anderson as president, ceo.(National Association of Chain Drug Stores Executive Committee)(National Restaurant Association)(Brief article)
January 31, 2007... ALEXANDRIA, Va. -- Capping a nearly 10-month search, the National Association of Chain Drug Stores Executive Committee named Washington insider Steven Anderson as president and chief executive officer. Anderson, who has been an association...

Battle for Caremark heats up in media and courts.(Brief article)
January 31, 2007... NASHVILLE, Tenn. -- Caremark Rx announced on Tuesday that it has sent a letter to its shareholders urging them to vote in favor of the CVS/Caremark merger at a shareholder meeting scheduled for Feb. 20. CVS will hold its shareholder meeting...

Medicare Part D drug benefit trimmed profits, researchers find.
January 31, 2007... OXFORD, Miss. -- The Medicare Part D program has pushed up prescription volume in most pharmacies and brought drug coverage to millions of seniors, but it could be slicing as much as 21 percent from a community pharmacy's bottom line,...

NCPA: Medicaid a concern.(National Community Pharmacists Association )(Brief article)
January 31, 2007... ALEXANDRIA, Va. -- The National Community Pharmacists Association seized on the Government Accountability Office's impact study as further proof that the new guidelines that shift the reimbursement formula from a federal upper limit payment...

Arcadia to buy PrairieStone.(Arcadia Resources)(PrairieStone)(Brief article)
January 31, 2007... SOUTHFIELD, Mich. -- Arcadia Resources, a provider of home care services and products and an operator of in-store health clinics, has entered an agreement to acquire the membership interests of PrairieStone Pharmacy for about $24 million. ...

U.S. Rx showed steady growth.(Brief article)
January 31, 2007... FAIRFIELD, Conn. -- In its latest Retail Drug Monitor, which tracks direct and indirect purchases of pharmaceuticals by retail and mail-order pharmacies from wholesalers and manufacturers, IMS Health reported that U.S. retail drug purchases...

Actavis considering Merck unit.(mergers and acquisitions)(Brief article)
January 31, 2007... HAFNARFJORDUR, Iceland -- Actavis is the latest to show interest in purchasing Merck's generics unit. Actavis stated it was too early to speculate about potential prices for the unit, which analysts value at about $5.1 billion. This...

DeLauro to suggest FDA changes.(Rosa DeLauro, Food and Drug Administration )(Brief article)
January 31, 2007... NEW HAVEN, Conn. -- An improved drug review system at the Food and Drug Administration is one of the many changes recently announced by Rep. Rosa DeLauro, D-Conn., the incoming chairwoman of the subcommittee with jurisdiction over the FDA's...

Studies bode well for supplements.(Brief article)
January 31, 2007... NEW YORK -- Things may be looking up for the dietary supplement industry. Long-promised good-manufacturing practices are expected to be issued by the Food and Drug Administration sooner rather than later, several of the industry associations...

Miami.(NEWSBITES)(Brief article)
January 31, 2007... MIAMI -- Navarro Discount Pharmacies, a 20-store regional drug chain, has secured a $200 million private equity fund from MBF Healthcare Partners to open three to five new stores in South Florida annually for the next few years. The company...

Chicago.(NEWSBITES)(Brief article)
January 31, 2007... CHICAGO -- Wal-Mart Stores reorganized its U.S. marketing and merchandising areas that will align its merchants with key product areas. Retail veteran John Fleming will become the company's chief merchandising officer, with four divisions...

Fairfax, Va.(NEWSBITES)
January 31, 2007... FAIRFAX, Va. -- The latest Whole Foods to open is hoping to attract some hungry customers. The 65,000-square-foot store here features five sit-down restaurants, all serving beer and wine, and manned by top chefs culled from fine dining...

Irvine, Calif.(NEWSBITES)
January 31, 2007... IRVINE, Calif. -- Independent chain Assured Pharmacy has acquired $2.45 million in financing to fund its expansion for the next few years. Assured currently has five stores--two in California, two in Oregon and one in Washington--and plans to...

Cincinnati.(NEWSBITES)
January 31, 2007... CINCINNATI -- Looking to further innovate and simplify the oral care category, Procter & Gamble is focusing on integrating its Crest brand and the Oral B brand it snapped up through the Gillette acquisition in October 2005. New product...

Princeton, N.J.(NEWSBITES)
January 31, 2007... PRINCETON, N.J. -- The Federal Court of Canada Monday found Pfizer's Canadian atorvastatin patent invalid, which is a triumph for Ranbaxy, which brought the case against the world's largest drug company. Atorvastatin is a cholesterol-lowering...

St. Louis.(NEWSBITES)
January 31, 2007... ST. LOUIS -- Cardinal Health sold its pharmaceutical technologies and services segment to The Blackstone Group for about $3.3 billion in cash. The PTS businesses employ about 10,000 people at more than 30 facilities around the globe, and...

Lakeland, Fla.(NEWSBITES)(Sweetbay Supermarket )(Brief article)
January 31, 2007... LAKELAND, Fla. -- Moving into new territory, Sweetbay Supermarket has opened in Lakeland, Fla., replacing a former Kash n' Karry and bringing competition to the home base of Publix. The 45,000-square-foot store features a pharmacy, as well as...

CVS promotions signal confidence in merger.
January 24, 2007... WOONSOCKET, R.I. -- CVS promoted Chris Bodine and Larry Merlo--moves that at least one industry observer says are indicative of the retailer's confidence in the closing of its merger deal with Caremark Rx. "While anything can still...

Weishar leaves PharmaCare for Amerisource division.(AmerisourceBergen Corp.)(PharMerica Corp. appoints Greg Weishar )(Brief article)
January 24, 2007... VALLEY FORGE, Pa., and LOUISVILLE, Ky. -- AmerisourceBergen Corp. and Kindred Healthcare revealed today that Greg Weishar would leave his post, effective immediately, as president and chief executive officer of CVS Corp.'s pharmacy benefit...

Industry may dodge cuts this year, state health policy expert predicts.(Brief article)
January 24, 2007... NEW YORK -- In a conference call hosted by Lehman Bros. on the outlook for health care, policy expert Donna Folkemer predicted that the ascendancy of Democrats in many state races last fall--coupled with relatively healthy state budgetary...

Rendell's plan expands role of health care providers.(Brief article)
January 24, 2007... HARRISBURG, Pa. -- In an effort to curb health care costs for Pennsylvanians, Gov. Ed Rendell announced last week a plan--dubbed Prescription for Pennsylvania--that enables nurse practitioners, pharmacists, physician assistants and other...

Health Mart to top 1,100 stores.(Brief article)
January 24, 2007... SAN FRANCISCO -- Capping an explosive, six-month growth campaign, McKesson's Health Mart franchise drug store concept grew nearly 400 percent in the second half of 2006 to more than 1,100 stores coast-to-coast. When the company unveiled...

Giant Eagle tests hybrid store.(Brief article)
January 24, 2007... PITTSBURGH -- Giant Eagle will test-market a 13,000-square-foot prototype drug/food/gas hybrid in Hamar Township, Pa., this summer, a Pittsburgh-based business journal reported Monday. The prototype combines a small drug-grocery combo with...

Canadian pharm back export ban.
January 24, 2007... TORONTO -- A broadly based group of Canadian pharmacists and pharmacy organizations is urging its country's government to ban the export of prescription drugs. The group is reacting angrily to reports that Congress will seek to pass...

Wal-Mart opens store concepts.(Wal-Mart Stores Inc.)(Brief article)
January 24, 2007... TULSA, Okla. -- Wal-Mart on Jan. 17 opened a newly designed Neighborhood Market store here that features an overhauled health and beauty department. Based on months of customer research on the Neighborhood Market concept, the revamped...

Harrisburg, Pa.(NEWSBITES)
January 24, 2007... HARRISBURG, Pa. -- Rite Aid shareholders overwhelmingly approved the company's proposed acquisition of the Jean Coutu Group's 1,858 U.S.-based Brooks-Eckerd stores. Now, the only hurdle left for Rite Aid to clear is regulatory approval....

Denver.(NEWSBITES)
January 24, 2007... DENVER -- Albertsons will close nine stores in Colorado this spring as it continues to weed out underperforming units. The company plans to have the stores closed by early March and will try to find new jobs for approximately 750 employees...

Princeton, N.J.(NEWSBITES)(mergers and acquisitions)(Brief article)
January 24, 2007... PRINCETON, N.J. -- Ranbaxy is said to be considering bidding for the generic drug unit of Merck, in conjunction with private equity firms, as part of its global acquisition spree. The purchase would make Ranbaxy the seventh-largest generic...

Southfield, Mich.(NEWSBITES)
January 24, 2007... SOUTHFIELD, Mich. -- Beginning this month, Affordable Basic Care health clinics will open 22 locations in select Meijer stores. The clinics will be operated by CareClinic. The first three clinics to open will be in Fort Wayne and Richmond,...

Toronto.(NEWSBITES)
January 24, 2007... TORONTO -- Shoppers Drug Mart's chairman and chief executive officer Glenn Murphy will step down from the company at the end of March. Jurgen Schreiber, who joined the company in August, will succeed Murphy.

Abbott Park, Ill.(NEWSBITES)
January 24, 2007... ABBOTT PARK, Ill. -- General Electric and Abbott entered into a definitive agreement for GE to acquire Abbott's primary in vitro diagnostics businesses and Abbott Point-of-Care diagnostics business for $8.13 billion in cash. Abbott's...

Bellevue, Wash.(NEWSBITES)(new program for online shoppers)(Brief article)
January 24, 2007... BELLEVUE, Wash. -- Drugstore.com earlier this week unveiled its new "Free 30" program designed to help online shoppers manage the cost of prescription medications. New drugstore.com pharmacy customers ordering a 90-day supply of any of more...

Washington.(NEWSBITES)(Brief article)
January 24, 2007... WASHINGTON -- Sure-Scripts announced that a Washington, D.C.-based doctor had sent a script electronically to a local Rite Aid Jan. 17. The move followed the adoption of new rules making e-prescribing legal in Washington. It also came the day...

CVS sweetens pot in face of Express Scripts' latest offer.(Brief article)
January 17, 2007... ST. LOUIS -- On the heals of Express Scripts' Jan. 16 announced $25 billion exchange offer for all outstanding shares of Caremark Rx--the latest step in Express Scripts' attempt to derail the CVS/Caremark merger agreement--CVS has re-emerged...

Walgreens' report strong despite industry changes.(Brief article)
January 17, 2007... CHICAGO -- Despite shifts in the chain drug store industry, Walgreens won't be deterred from pursuing its proven strategy of profitable organic growth, customer convenience and innovative merchandising. Addressing shareholders at the...

Capitol Hill to tackle out-of-court drug settlements.(Brief article)
January 17, 2007... WASHINGTON -- Out-of-court settlements that are intended to lengthen a branded drug's period of exclusivity will be looked at on Capitol Hill this week. Such settlements usually are bad news for the generic drug industry because the...

Court decision to help generics get to market faster.(Brief article)
January 17, 2007... ARLINGTON, Va. -- The Generic Pharmaceutical Association on Jan. 10 lauded the Supreme Court decision in MedImmune vs. Genentech, declaring it a win for consumers that will enable affordable medicines to reach the market in a timely manner....

Health, technology leaders launch national e-prescribing bid.(Brief article)
January 17, 2007... WASHINGTON -- Major technology providers, health plan payers, patient advocates and physician groups are joining forces in a major push to extend free electronic prescribing to every physician in the United States. With a kick-start from...

Bush to veto drug negotiation bill.
January 17, 2007... WASHINGTON -- The Bush administration vowed to veto legislation that would force the government to negotiate lower prices on pharmaceuticals for Medicare patients. The bill, HR 4, was introduced last week as part of new House speaker Nancy...

NACDS gives grants, scholarships.(National Association of Chain Drug Stores Foundation)(Brief article)
January 17, 2007... ALEXANDRIA, Va. -- The National Association of Chain Drug Stores Foundation doled out scholarships to pharmacy students and solicited grant proposals last week. The NACDS unveiled a new grant program for pharmacy educators who seek to...

New York.(NEWSBITES)
January 17, 2007... NEW YORK -- Pfizer is considering an OTC form of its Viagra erectile dysfunction drug. However, the switch may be difficult in the safety-conscious climate at the FDA. The company also reported they are not pursuing a spray version of Viagra.

Hoffman Estates, Ill.(NEWSBITES)
January 17, 2007... HOFFMAN ESTATES, Ill. -- Kmart Pharmacy added 22 products to its 90-day generic drug program, which now will offer 225 prescription medications. The drugs added to the program treat pain, depression, high blood pressure, under-active thyroid...

Walnut Creek, Calif.(NEWSBITES)
January 17, 2007... WALNUT CREEK, Calif. -- Longs Drug Stores purchased four retail pharmacies from PharMerica, a subsidiary of Amerisource-Bergen. The units average approximately 1,800 square feet, with three in Hawaii and one in California.

Columbus, Ohio.(NEWSBITES)
January 17, 2007... COLUMBUS, Ohio -- Language Access Network's video interpretation service, Martti, now is available at three Kroger pharmacies in central Ohio. Martti provides real-time, on-demand video interpretation services for pharmacists and customers in...

Purchase, N.Y.(NEWSBITES)
January 17, 2007... PURCHASE, N.Y. -- Pepsi-Cola will launch a global brand makeover in February, with new packaging that changes every few weeks. The background graphics and accompanying Web links will change 35 times this year to keep up with the fast,...

Boston.(Procter & Gamble Co)(Brief article)
January 17, 2007... BOSTON -- Effective July 1, Procter & Gamble's Gillette Blade and Razor and Braun business will become part of P & G Beauty and Health, and the Duracell battery business will join P & G Household Care. According to the company, the...

Irvington, N.Y.(NEWSBITES)
January 17, 2007... IRVINGTON, N.Y. -- Prestige Brands named Mark Pettie its new chairman and chief executive officer, effective Jan. 19. Pettie succeeds Peter Mann, who will retire from day-to-day operations but will retain a seat on the board.

Caremark reaffirms commitment to CVS agreement.(mergers and acquisitions)(Brief article)
January 10, 2007... NASHVILLE, Tenn. -- On Monday, Caremark Rx rejected Express Scripts' proposal and reaffirmed its commitment to the CVS merger agreement. "Caremark believes that its future success does not lie in simply creating a larger pharmacy...

Advisory firms support Rite Aid acquisition of Brooks-Eckerd.
January 10, 2007... CAMP HILL, Pa. -- Two leading proxy advisory firms--Institutional Shareholder Services and Glass Lewis & Co.--are recommending that Rite Aid shareholders approve Rite Aid's proposed acquisition of the Jean Coutu Group's Brooks and Eckerd drug...

Democrats float drug price bargaining chip.(Brief article)
January 10, 2007... WASHINGTON -- Making good on campaign pledges, Democrats in the U.S. House of Representatives introduced a bill Friday that would require the Medicare Part D drug program to negotiate directly with pharmaceutical manufacturers for discounts...

FDA: no unapproved drugs.(Food and Drug Addminstration)(Brief article)
January 10, 2007... ROCKVILLE, Md. -- The Food and Drug Administration reiterated yesterday its intent to crack down on the marketing of unapproved drugs in the coming year during its well-attended Marketed Unapproved Drugs Workshop held at the Universities at...

FTC recovers $25 million from weight-control claims.(Federal Trade Commission)(Brief article)
January 10, 2007... MORRISTOWN, N.J. -- The Federal Trade Commission Jan. 4 announced that it has recovered $25 million from diet-aid manufacturers Bayer, Cytodyne, TrimSpa and Window Rock. The FTC filed complaints in four separate cases, alleging that...

Rite Aid stock shows promise.(Rite Aid Corp.)(Brief article)
January 10, 2007... NEW YORK -- Mad Money's Jim Cramer interviewed Rite Aid president and chief executive officer Mary Sammons Jan. 5 after identifying Rite Aid, "the seemingly obvious, innocuous and unsexy stock," his second-favorite speculative stock for 2007....

Longs sales below expectations.(financial report Longs Drug Stores )(Financial report)(Brief article)
January 10, 2007... WALNUT CREEK, Calif. -- Longs Drug Stores reported a 1 percent increase in same-store sales for December, a jump that fell slightly below analysts' expectations. Longs pharmacy sales rose 2.3 percent for the month, while front-end sales...

Kmart unveils weight-loss site.(Kmart Holding Corp)(Brief article)
January 10, 2007... HOFFMAN ESTATES, III. -- Kmart is helping customers with their New Year's weight-loss resolutions with the "New Day, Your Way" program, a health, beauty and weight-loss contest and an advice-laden Web site that rewards customers as they reach...

CCA adds five members.(appointments)(Convenient Care Association)(Brief article)
January 10, 2007... PHILADELPHIA -- The Convenient Care Association, the trade association formed in October to shape the future of the convenient care industry, has welcomed five new members to its executive board of directors. Named to the board are:...

Natick, Mass.(NEWSBITES)
January 10, 2007... NATICK, Mass. -- BJ's Wholesale Club will exit the pharmacy business and close all of its existing 46 pharmacies. BJ's generated total pharmacy sales of roughly $50 million last year, according to Drug Store News estimates.

Minneapolis.(NEWSBITES)
January 10, 2007... MINNEAPOLIS -- Supervalu may shed 15 Jewel-Osco stores in the Milwaukee area, including five stores to Roundy's Supermarkets. Supervalu stated that it is "in discussions" with local retailers regarding the other 10 Jewel-Osco locations.

Alexandria, Va.(NEWSBITES)
January 10, 2007... ALEXANDRIA, Va. --The NACDS and LearnSomething Inc. have developed a training program on fraud, waste and abuse in such government health care programs as Medicare and Medicaid. In other news, NACDS has appointed Paul Kelly as vp of...

Conshohocken, Pa.(NEWSBITES)
January 10, 2007... CONSHOHOCKEN, Pa. -- Take Care Health Systems appointed former Aetna executive Charles Peck as its new chief medical officer, effective immediately. Peck will work alongside chief nurse practitioner officer Sandra Ryan coordinating the...

Longueuil, Quebec.(NEWSBITES)
January 10, 2007... LONGUEUIL, Quebec -- The Jean Coutu Group said that in the second quarter its U.S. Brooks-Eckerd stores posted their first positive front-end sales growth since the Eckerd acquisition, despite a slowdown in private label due to the pending...

New York Times article recognizes Asheville Project.
January 4, 2007... NEW YORK -- Ten years after its inception, the Asheville Project finally is getting some long-overdue recognition. On Saturday, the groundbreaking, decade-long campaign to improve the health and lower the medical costs of patients with...

Lifespan Respite Care Act signed into law.(Brief article)
January 4, 2007... WASHINGTON -- Legislation aimed at helping caregivers care for loved ones with disabilities or chronic conditions has received congressional approval. The Lifespan Respite Care Act, which the president signed into law in late December,...

Drug Store News sports new lineup, new look.(Brief article)
January 4, 2007... NEW YORK -- Drug Store News is kicking off 2007 with several key staff changes and a contemporary, redesigned look in its Jan. 15 issue. Rob Eder, former executive editor, will assume the role of editor in chief. He will continue to...

FTC gives CVS green light on Caremark merger.
January 4, 2007... WOONSOCKET, R.I. -- CVS announced in late December that the initial waiting period for its $21 billion merger with Caremark Rx that is required under the Hart-Scott-Rodino Act expired without a request for additional information from the U.S....

Cardinal to pay $11 million to settle improper trading suit.(Cardinal Health Inc settles Health Research )(Brief article)
January 4, 2007... ST. LOUIS -- Cardinal Health has said it will pay $11 million to settle an investigation by the New York Attorney General's office. The investigation looked into improper trading of pharmaceuticals on the secondary market. The payment...

Weis Markets, MSI expand in-store clinic concepts.(Medicine Shoppe International Inc.)(Brief article)
January 4, 2007... NEW YORK -- Both Weis Markets and Medicine Shoppe International are opening their second in-store clinic, and have made plans for future growth. Weis Markets announced that it will open a CareWorks in its Allentown, Pa., store in early...

WAG 1Q sales soar.(Walgreen Co.)(Financial report)(Brief article)
January 4, 2007... DEERFIELD, Ill. -- Walgreens net earnings for the first quarter ended Nov. 30 were up 24.9 percent over prior-year levels, to $432 million, driven primarily by tight expense controls, strong same-store sales and the growth of higher-margin...