Drug Store News articles from July 2001

Drug Store News archives from July 2001

Sainsbury Plc.(Brief Article)
July 25, 2001... LONDON -- Sainsbury Plc is adding private label health and beauty products from Boots The Chemist to six of its stores outside of London. Boots staff and consultants will support the product ranges in-store.

Legend Pharmacies.(Brief Article)
July 25, 2001... EAST FARMINGDALE, N.Y. -- Legend Pharmacies, a cooperative pharmacy group with 200 stores, endorsed H.D. Smith as an "optional wholesaler." Kinray remains Legend's primary wholesaler, In addition, Leg end has partnered with EPIC IC Pharmacy...

Eckerd.(Brief Article)
July 25, 2001... LARGO, Fla. - Eckerd, a subsidiary of J.C. Penney Co., has added a new Health Resource Center to its site, www.eckerd.com. By visiting the online center, customers can get information on topics such as depression, child d development germs,...

Kmart shoppers.(Brief Article)
July 25, 2001... TROY, Mich. -- Kmart shoppers who convert their tax rebate check into a Kmart Tax Rebate Cash Card will receive a 5 percent bonus, the company stated. The card with the 5 percent bonus will be available at the service desk, but customers may...

Hyvee.(Brief Article)
July 25, 2001... ALEXANDRIA Va. - Hyvee, a 200-plus store supermarket chain based in West Des Moines, Iowa, has joined the WorldWide Retail Exchange, a business-to-business exchange for retailers and their suppliers. WWRE has 53 retail members and IS...

Albertson's to close 165 stores, four regional offices.(Brief Article)(Statistical Data Included)
July 25, 2001... BOISE, Idaho - Albertson's revealed plans last week to close 165 food and drug stores, reduce its bloated operating structure and eliminate 15 percent to 20 percent of its non-store managers and support staff. The moves, said newly...

Horizon Pharmacies files for bankruptcv protection.(Brief Article)
July 25, 2001... DENISON, Texas - Horizon Pharmacies, struggling with its debt obligations since at least October last year, filed for Chapter 11 on Monday. The filing also sought bankruptcy protection for the pharmacy's three subsidiaries: Horizon Home Care,...

Jean Coutu Group reports record earnings for fiscal 2001.(Brief Article)
July 25, 2001... QUEBEC -- Canadian drug chain Jean Coutu Group, parent to Brooks Pharmacy, reported strong fiscal 2001 year end results, the company stated. For the 12-month period ended May 31, overall revenue reached $1.88 billion Canadian $2.9...

Drugstore.com posts improved quarterly results.(Brief Article)
July 25, 2001... BELLEVUE, Wash. -- Drugstore.com, still a survivor in the difficult business of pure-play online drug stores, in the second quarter continued improvement in sales, reduced its net loss and beat Wail Street's expectations. The e-retailer...

Generic Prilosec hits snag.(Brief Article)
July 25, 2001... FORT LAUDERDALE, Fla. -- Generic drug maker Andrx Corp.'s plans to launch early next year a generic version of AstraZeneca's heartburn medicine, Prilosec, has hit a snag. AaiPharma, the maker of two components used to make Prilosec's...

Clairol's co-founder dies at 99.(Obituary)
July 25, 2001... STAMFORD, Conn. -- Joan Bove, who, along with her husband Lawrence Gelb, founded the Clairol hair color brand in 1931, died this past weekend. She was 99 years old. Bove served as Clairol's first president from 1931 until 1941, when she...

Wal-Mart realigns staff, plans to acquire Web site.(Brief Article)
July 25, 2001... BENTONVILLE, Ark. -- Wal-Mart Stores has reassigned many of its senior and midlevel managers in a move that will help "foster a management team made up of generalists, rather than specialists," according to Tom Coughlin, president and chief...

J&J, Inverness deal moves closer to finalization.(Johnson & Johnson to acquire Inverness Medical's diabetes business.)(Brief Article)
July 25, 2001... NEW BRUNSWICK, N.J. -- Johnson & Johnson's $1.3 billion stock-for-stock acquisition of Inverness Medical's diabetes business is one step closer to being finalized, both companies announced late last week. The Federal Trade Commission...

Albertson.(Albertson's to shut down 165 stores)(Brief Article)
July 25, 2001... BOISE, Iadho -- Albertson's, which last week revealed a major restructuring plan that includes the closure of 165 stores and staff reductions, yesterday saw its shares close at $31.96, a decline of 24 cents, on the New York Stock Exchange. It...

Kmart.(Kmark to acquire remaining shares in BlueLight.com.)(Brief Article)
July 25, 2001... TROY, Mich. -- Kmart is planning to acquire, on or before Aug. 1, all of the remaining shares and interests of BlueLight.com not already owned by the discount retailer. The terms of the deal were not released. San Francisco-based...

Familymeds.(Familymeds raises $85 million in venture funds.)(Brief Article)
July 25, 2001... FARMINGTON, Conn. -- Familymeds has received a round of multi-million dollar equity financing led by ABS Capital Partners. Familymeds has raised more than $85 million in outside venture funds in the past three years.

McNeil Nutritionals.(Brief Article)
July 25, 2001... FORT WASHINGTON, Pa. -- McNeil Nutritionals last week reported the purchased the supplement brand name Viactiv from Mead Johnson for an undisclosed amount. Viactiv currently has a market share of 10 percent among calcium supplements,...

The Gillette Co.(Brief Article)(Statistical Data Included)
July 25, 2001... BOSTON -- The Gillette Co.'s sales and earnings for the second quarter declined in line with company expectations. Sales were $2.12 billion, a decline of 5 percent from $2.22 billion a year ago. Duracell sales of $519 million decreased 11...

TechRx.(hires Brian Gallagher)(Brief Article)
July 18, 2001... ALEXANDRIA, Va. - Brian Gallagher, formerly NACDS director of pharmacy regulatory affairs, has joined TechRx, a provider of pharmacy management and prescription fulfillment software, as general counsel. He will handle TechRx's legal services...

Burke Lakefront Airport.(Discount Mart will present air show)(Brief Article)
July 18, 2001... CLEVELAND -- Discount Mart will present the 2001 Cleveland National Air Show featuring the U.S. Navy Blue Angels from Sept. 1-3. The annual Labor Day tradition marks the 37th air show at the Burke Lakefront Airport here.

Rite Aid.(revamps photo departments)(Brief Article)
July 18, 2001... CAMP HILL, Pa. -- Rite Aid announced Monday that it is revamping photo departments at its stores nationwide by providing new services, prices and signage and fixtures. Rite Aid customers now can have prints processed three ways starting at...

Procter & Gamble.(acquires Clairol)(Brief Article)
July 18, 2001... HUNT VALLEY, Md. -- Procter & Gambles acquisition of Clairol's hair care business for $4.95 billion remains in the hands of the Department of Justice, according to a P&G spokeswoman. The department has requested more information from P&G, she...

Ahold.(may acquire remainder of Peapod)(Brief Article)
July 18, 2001... CHICAGO -- Ahold, the international food retail and food store conglomerate, plans to acquire the remaining 42 percent of Peapod, a Web-based grocer, for $35 million. The transaction is expected to close in the third quarter. Ahold reported...

Rx groups, filing suit, frown on discount card plan.(Brief Article)
July 18, 2001... ALEXANDRIA, Va. -- Pharmacy groups, including the National Association of Chain Drug Stores, the National Community Pharmacists Association and the American Pharmaceutical Association, are quickly mobilizing to fight a new plan by the Bush...

Walgreens' Bernauer to become CEO in January.(David Bernauer)(Brief Article)
July 18, 2001... DEERFIELD, III. -- Walgreen Co. revealed last week that president and chief operating officer David Bernauer will succeed L. Daniel Jorndt as chief executive officer, effective Jan. 9. Walgreens called the promotion part of "long-range...

Two major drug chains report modest June front-end gains.(Eckerd, Rite Aid)(Brief Article)(Statistical Data Included)
July 18, 2001... PLANO, Texas -- Two major drug chains reported last week that for the month of June pharmacy sales led the way, as front-end sales remained sluggish, especially at Eckerd. Eckerd, a subsidiary of J.C. Penney Co., reported last week that...

Rite Aid narrows loss.(Brief Article)(Statistical Data Included)
July 18, 2001... CAMP HILL, Pa. -- Rite Aid, on the road to recovery, narrowed its loss from continuing operations in the first quarter ended June 2 to $211.1 million, or 56 cents per share. In the year-ago period, Rite Aid reported a net loss from continuing...

NACDS to hold Rx show.(National Association of Chain Drug Stores)(Brief Article)
July 18, 2001... CHICAGO -- Join representatives of the chain pharmacy and healthcare industry at the 2001 National Association of Chain Drug Stores Pharmacy & Technology Conference here Aug. 16 to 22. The conference will feature more than 300 exhibitors,...

Bergen is named supplier for Longs' online store.(Bergen Brunswig, Longs Drug Stores)(Brief Article)
July 18, 2001... WALNUT CREEK, Calif. -- Wholesaler Bergen Brunswig, based in Orange, Calif., will supply Longs Drug Stores with all of its over-the-counter products, health and beauty aids and vitamins and dietary supplements sold at www.Longs.com. ...

Bergen's healthcare expo draws thousands.(Bergen Brunswig Corp.)(Brief Article)
July 18, 2001... LAS VEGAS -- More than 4,000 retail pharmacists gathered here for Bergen Brunswig Corp.'s fifth annual Healthcare Congress and Manufacturers' Exposition. In addition to offering continuing education seminars and demonstrations of the...

Pharmacia Corp.(shares fall)(Brief Article)(Statistical Data Included)
July 18, 2001... PEAPACK, N.J. -- Shares of Pharmacia Corp. fell almost 9 percent Monday after the company reported that the Food and Drug Administration issued a "non-approvable" letter for its new injectable painkiller parecoxib sodium. The FDA requested...

Newell Rubbermaid.(earnings expectations)(Brief Article)(Statistical Data Included)
July 18, 2001... FREEPORT, Ill. -- Newell Rubbermaid now expects earnings per share in the second quarter to be 29 cents vs. previous guidance of 37 cents to 42 cents. For the full year, the company expects sales to decrease 4 percent to 6 percent vs. earlier...

Bergen Brunswig Corp.(PharMerica offers tender to purchase notes)(Brief Article)
July 18, 2001... ORANGE, Calif. -- Bergen Brunswig Corp.'s wholly owned subsidiary, PharMerica, has initiated a cash tender offer to purchase all of PharMerica's outstanding 8.375 percent senior subordinated notes due 2008 and consent solicitation.

CVS.(approves cash dividend)(Brief Article)(Statistical Data Included)
July 18, 2001... NEW YORK -- CVS has approved its quarterly cash dividend at the rate of 5.75 cents per share payable Aug. 3 to shareholders of record on July 23. Walgreens also announced that it has declared a quarterly dividend of 3.5 cents per share...

Drug Store Division.(Albertson's names Jim Willyard)(Brief Article)
July 11, 2001... SCOTTSDALE, Ariz. -- Albertson's named Jim Willyard corporate vice president of marketing, drug and general merchandise. He succeeds Mark Panzer, who left Albertson's late last month to join Rite Aid. Willyard had been Albertson's vice...

SKU.(Duane Reade cosmetics)(Brief Article)
July 11, 2001... NEW YORK -- This year, Duane Reade will roil out a private label cosmetics line to include between 75 and 125 SKUs, according to a company spokesman. The line, which has yet to be named, may replace shelf space leftover from the Olay phase...

Avon.(Sears discontinues cosmetics sales; cancels plans)(to sell Avon line)(Brief Article)
July 11, 2001... HOFFMAN ESTATES, Ill. - Sears announced yesterday it will exit the skin care and color cosmetics business, and it will not proceed with the launch of Avon's new retail brand beComing. The retailer stated the cosmetics business is not...

RxHub.(James Bradley named chief executive officer, RxHub.net)(Brief Article)
July 11, 2001... NEW YORK -- RxHub, a venture to enable the electronic exchange of prescriptions, has named James Bradley, formerly a senior business development executive of McKessonHBOC, as chief executive officer RxHub was founded by three leading pharmacy...

NACDS.(National Association of Chain Drug Stores officers)(Brief Article)
July 11, 2001... A LEXANDRIA, Va.- NACDS named Phil Schneider, formerly NACDS vice president of public affairs, to the new post of vice president of external affairs and program development. Assuming media relations duties is Kelley Gannon, who joined NACDS...

Drug chains report lukewarm June front-end sales.(Brief Article)(Statistical Data Included)
July 11, 2001... NEW YORK -- Drug chains reported lackluster front-end sales growth for June. But pharmacy sales remained strong, pushing same-store sales growth. CVS reported yesterday that same-store sales rose 7.5 percent for the five weeks ended June...

NACDS Marketplace draws record number of retailers.(National Association of Chain Drug Stores)(Brief Article)
July 11, 2001... LAS VEGAS -- Suppliers were on the hot plate in the Nevada desert at the top of the month as retailers sought sales-driving products among 11.5 acres of exhibition space at the National Association of Chain Drug Stores 2001 Marketplace. ...

Rite Aid wraps up $3 billion refinancing, hires Panzer.(Mark Panzer)(Brief Article)(Statistical Data Included)
July 11, 2001... CAMP HILL, Pa. -- Putting debt issues to rest for the next several years, Rite Aid late last month completed a $3 billion refinancing plan, which pushes the maturity of major debt off until 2005. In addition, the chain named Mark Panzer...

Snyder's agrees to buy 77 Drug Emporium units.(Brief Article)
July 11, 2001... MINNETONKA, Minn. -- Snyder's Drug Stores agreed late last month to acquire 77 Drug Emporium stores and all the equity in the newly reorganized Drug Emporium company for $21 million in cash, plus the assumption of debt. The debt is estimated...

Longs promotes Findley-Tussy.(Longs Drug Stores; Sharon Findley-Tussy)(Brief Article)
July 11, 2001... WALNUT CREEK, Calif. -- Longs Drug Stores has promoted Sharon Findley-Tussy, formerly category manager of OTC products, to the newly created position of assistant director of category management. Findley-Tussy, who will report to Mike...

PhRMA files lawsuit over Maine's discount Rx program.(Pharmaceutical Research and Manufacturers of America, drugs)(Brief Article)
July 11, 2001... WASHINGTON -- The Pharmaceutical Research and Manufacturers of America has filed a lawsuit against the federal government's Centers for Medicare and Medicaid Services over Maine's new discount drug program, alleging that the program violates...

CVS readjusts earnings, sales projections.(Brief Article)(Statistical Data Included)
July 11, 2001... WOONSOCKET, R.I. -- CVS late last month reduced its sales and earnings expectations for the second quarter and reported that is has had to reduce pharmacy hours in some stores because of the impact of an ongoing pharmacist shortage....

Store brands exceed 11 percent market share.(Brief Article)(Statistical Data Included)
July 11, 2001... NEW YORK -- For the third year in a row, private label dollar share in drug stores surpassed the 11 percent mark, according to the Private Label Manufacturers Association's 2001 Private Label yearbook. In addition, private label sales reached...

Stewart-Wood Drug.(to be acquired by Eckerd)(Brief Article)
July 11, 2001... CLEARWATER, Fla. -- Eckerd announced yesterday that it has reached an agreement to acquire Oklahoma City-based Stewart-Wood Drug and that it will relocate the prescription files to a nearby Eckerd store. The terms of the agreement were not...

Standard & Poor.(raises Duane Reade's rating)(Brief Article)
July 11, 2001... NEW YORK -- Citing an improved capital structure, Standard & Poor's raised its corporate credit and senior secured bank loan ratings for Duane Reade to double 'B' minus from single 'B' plus and raised its subordinated debt rating to single...

GroceryWorks.com.(Safeway, second-quarter income)(Brief Article)
July 11, 2001... PLEASANTON, Calif. -- Safeway reported that net income for the second quarter, excluding the effects of a previously announced GroceryWorks.com impairment charge, rose 16 percent to $325.1 million, or 63 cents per share. Some Wall Street...

Barr Laboratories.(merger with Duramed Pharmaceuticals)(Brief Article)
July 11, 2001... POMOMA, N.Y. -- The merger of Barr Laboratories and Duramed Pharmaceuticals will create a leader in proprietary and generic female health care products, Barr reported. Under the agreement, Duramad shareholders receive a fixed exchange ratio...

IPO.(drugstore.com shareholder lawsuit)(Brief Article)
July 11, 2001... BELLEVUE, Wash. -- A shareholder lawsuit was filed against drugstore.com, alleging the e-retailer violated securities laws related to its 1999 IPO.