Drug Store News articles from November 2003

Drug Store News archives from November 2003

Alexandria, Va.--ChainDrugStore.net has launched a new online tool that will enable suppliers to communicate detailed.(NEWSBITES)
November 26, 2003... ALEXANDRIA, Va. -- ChainDrugStore.net has launched a new online tool that will enable suppliers to communicate detailed, real-time marketing and merchandising information to decision makers at 180 retail chains and wholesalers.

Bellevue, Wash.--Drugstore.com has developed a new flexible spending account manager program.(NEWSBITES)
November 26, 2003... BELLEVUE, Wash. -- Drugstore.com has developed a new flexible spending account manager program. The program tracks purchases of products eligible for FSA reimbursement and will provide an IRS-approved receipt or submit receipts electronically...

New York--the Consumer Confidence Index reached 91.7 in November, up 10 points from October, The Conference Board announced yesterday.(NEWSBITES)
November 26, 2003... NEW YORK -- The Consumer Confidence Index reached 91.7 in November, up 10 points from October, The Conference Board announced yesterday. Consumer confidence is now at its highest level since fall 2002. The monthly survey is based on a...

Boise, Idaho--during ceremonies at the U.S. Chamber of Commerce in Washington, Albertsons received the Home Front Award for its support of employees who serve in the National Guard and Reserve.(Brief article)
November 26, 2003... BOISE, Idaho -- During ceremonies at the U.S. Chamber of Commerce in Washington, Albertsons received the Home Front Award for its support of employees who serve in the National Guard and Reserve. Albertsons was recognized for continuing the...

VNU.(NEWSBITES)
November 26, 2003... NEW YORK -- Steven Schmidt has been named by VNU, ACNielsen's corporate parent, president and chief executive officer of ACNielsen and executive vice president of VNU Marketing Information. Previously, he served as president of VNU Marketing...

Drug benefit bill passes both houses of Congress.
November 26, 2003... WASHINGTON -- Reaction--muted but generally positive--is swirling around the passage by both houses of Congress of the Medicare Prescription Drug, Improvement and Modernization Act of 2003, with most pharmacy groups praising the long-awaited...

Walgreens threatens to withdraw from Medi-Cal program.(Brief article)
November 26, 2003... DEERFIELD, Ill. -- Walgreens said it may be forced to withdraw" from California's embattled Medi-Cal program if the state follows through on its plan to cut pharmacy reimbursements on Jan. 1. Medi-Cal is the state's Medicaid program,...

Price cuts, grocery strike help drive Longs' third quarter.(company sales and earnings)(Financial report)(Brief article)
November 26, 2003... WALNUT CREEK, Calif. -- Longs Drug Stores reported higher-than-expected earnings for its third quarter ended Oct. 30 and declined to comment on takeover rumors that sent its stock to a 52-week high Nov. 18. The 460-store chain posted...

ShopKo to focus on Rx in 2004.
November 26, 2003... GREEN BAY, Wis. -- ShopKo Stores will focus on its pharmacy business in 2004 and will use much of its $100 million capital spending budget to cover the costs. Among the projects on the retailer's to do list: build three new ShopKo...

Survey: Candian pharmacies hurt by Rx importation to U.S.(Survey)(Brief article)
November 26, 2003... WINNIPEG, Manitoba -- The diversion of Canadian prescription drugs to the United States is hurting Manitoba-area community pharmacies, according to a survey released Friday by the Coalition for Manitoba Pharmacy. According to the study,...

Lawsuit: ex-Kmart executives used company money for frills.
November 26, 2003... DETROIT -- Just as charges were dropped in one Kmart case, a new lawsuit emerged charging six former Kmart executives with lavish spending on the company's dime. A civil lawsuit filed last week by Kmart Creditor Trust claims that former...

Bidders line up for Eckerd.(Brief article)
November 26, 2003... NEW YORK -- CVS has partnered with private equity investment firm Kohlberg Kravis Roberts to submit an official indication of interest in acquiring Eckerd from J.C. Penney, according to a Financial Times report. Teaming with KKR would...

Judge denies Rx Depot request.(District Court judge ruled against Rx Depot)(Brief article)
November 26, 2003... DENVER -- The 10th Circuit Court of Appeals on Friday denied a motion from Rx Depot that would have kept the Canadian drug importer's doors open during the ongoing appeal process. Earlier this month, a U.S. District Court judge ruled...

Attorney's Office contacts ABC over rebate-scheme probe.(Brief article)
November 26, 2003... VALLEY FORGE, Pa. -- AmerisourceBergen confirmed last Wednesday that it has been contacted by the U.S. Attorney's Office in Sacramento, Calif., for "some additional information" regarding a 3-year-old investigation in which a customer...

Whitehouse Station, N.J.--shares of Merck & Co. dropped 6.5 percent to close at $42.21 Friday after the drug maker said it was pulling the plug on the development of its new diabetes drug MK-767.(FINANCIALS)
November 26, 2003... WHITEHOUSE STATION, N.J. -- Shares of Merck & Co. dropped 6.5 percent to close at $42.21 Friday after the drug maker said it was pulling the plug on the development of its new diabetes drug MK-767 because rare malignant tumors were discovered...

New York--shares of Eli Lilly rose 1.3 percent to close at $70.50 on Monday after the company announced FDA approval of Cialis, a new impotence drug created by a joint venture between ICOS and Eli Lilly.(FINANCIALS)
November 26, 2003... NEW YORK -- Shares of Eli Lilly rose 1.3 percent to close at $70.50 on Monday after the company announced FDA approval of Cialis, a new impotence drug created by a joint venture between ICOS and Eli Lilly. Cialis is expected to hit pharmacy...

New York--the whitening war waged between leading toothpaste brands Colgate and Crest moved from retail stores to the courtroom Monday.(FINANCIALS)
November 26, 2003... NEW YORK -- The whitening war waged between leading toothpaste brands Colgate and Crest moved from retail stores to the courtroom Monday. Colgate-Palmolive, maker of Colgate Simply White, sued Procter & Gamble, maker of Crest Night Effects,...

McKesson Corp.(FINANCIALS)
November 26, 2003... SAN FRANCISCO -- McKesson Corp. has named Jeffrey Campbell senior vice president and chief financial officer, effective after the beginning of the year. He succeeds William Graber, who is retiring April 30. Campbell currently is senior vice...

Clearwater, Fla.--Eckerd will re-enter the Alabama market with three new locations scheduled to open by year's end.(NEWSBITES)
November 19, 2003... CLEARWATER, Fla. -- Eckerd will re-enter the Alabama market with three new locations scheduled to open by year's end. The new stores to be located in Semmes and Mobile, Ala., are a natural extension of Eckerd's plan to build 250 new or...

Bentonville, Ark.--Wal-Mart Stores and Sam's Club stores now are offering Kodak Picture Maker kiosks.(Brief article)
November 19, 2003... BENTONVILLE, Ark. -- Wal-Mart Stores and Sam's Club stores now are offering Kodak Picture Maker kiosks, which enable consumers to create basic prints, download images onto PC-formatted floppy disks and CDs, add borders and text to photos,...

Deerfield, Ill.--Walgreens will close at the end of the month its underperforming store in downtown Tucson, Ariz., ending 46 years at that location.(NEWSBITES)
November 19, 2003... DEERFIELD, Ill. -- Walgreens will close at the end of the month its underperforming store in downtown Tucson, Ariz., ending 46 years at that location. Michael Polzin, a company spokesman, said Walgreens shutters roughly a dozen stores each...

Avon, Conn.--Big Y Foods will open tomorrow its 16th in-store pharmacy, known as Y Pharmacy.(NEWSBITES)
November 19, 2003... AVON, Conn. -- Big Y Foods will open tomorrow its 16th in-store pharmacy, known as Y Pharmacy. This marks the company's third pharmacy in Hartford County.

Santa Ana, Calif.--Good Neighbor Pharmacy, an AmerisourceBergen program, will sponsor a benefit concert for The Bowers Kidseum here on Saturday.(NEWSBITES)
November 19, 2003... SANTA ANA, Calif. -- Good Neighbor Pharmacy, an AmerisourceBergen program, will sponsor a benefit concert for The Bowers Kidseum here on Saturday. Proceeds from the event will benefit the Bowers Kidseum, which features innovative and creative...

AARP voices strong support for Medicare reform bill.(American Association of Retired Persons)(Brief article)
November 19, 2003... WASHINGTON -- The AARP announced on Monday its strong support of the Medicare reform bill. The organization called the bill "far from perfect," but said millions of older Americans and their families will benefit. It launched a national...

U.K.'s Boots to test 'implant' stores in CVS, Target.(Boots Company PLC)(Brief article)
November 19, 2003... LONDON -- U.K. health and beauty retailer Boots Plc is bringing its in-store boutique to the United States by testing the concept in 32 CVS and Target locations. The low-cost "implant" model, whereby Boots has small branded areas in...

Retailers flock to PLMA show, Walgreens takes top honors.(Private Label Manufacturers Association)(Brief article)
November 19, 2003... ROSEMONT, Ill. -- At a time when private label has given way to the "private brand," more than 1,100 retailers--from the nation's largest chains to progressive mom-and-pop shops--cruised the Private Label Manufacturers Association annual...

BJ's to open pharmacies in most new club locations.(BJ's Wholesale Club Inc.)(Brief article)
November 19, 2003... NATICK, Mass. -- BJ's Wholesale Club, which opened its first pharmacy in March 2001, is moving out of the pharmacy test phase and into a "controlled expansion phase," according to Mike Wedge, president and chief executive officer. The...

Ronald Perelman grants Revlon $125 million loan.(MacAndrews and Forbes Holdings Inc.)(Brief article)
November 19, 2003... NEW YORK -- Revlon's majority shareholder Ronald Perelman has agreed to loan the cash-strapped company up to $125 million. Perelman's holding company MacAndrews & Forbes Holdings will make $25 million immediately available to Revlon and...

Shares of Longs skyrocket on speculation of takeover.
November 19, 2003... WALNUT CREEK, Calif. -- Shares of Longs Drug Stores rose as much as 17 percent yesterday on speculation that the drug chain is the target of a possible takeover. Longs' shares closed yesterday at $24.12, up 10.2 percent. The pharmacy...

FDA, Health Canada sign Canadian Rx import memo.
November 19, 2003... OTTAWA -- Food and Drug Commissioner Mark McClellan trekked up north yesterday to meet with officials of Health Canada, the Canadian equivalent to the FDA, and signed a "Memorandum of Understanding" concerning the import/export of medications...

ChainDrugStore.net forms 15-member retail advisory board.(Brief article)
November 19, 2003... ALEXANDRIA, Va. -- ChainDrugStore.net, the Web-based communications network for the retail pharmacy industry, has formed a retailer advisory board. The 15 members represent a strong cross-section of industry retailers. The board will...

Boise, Idaho--Albertsons has withdrawn its fiscal year 2003 earnings guidance due to the ongoing labor dispute in Southern California.(FINANCIALS)
November 19, 2003... BOISE, Idaho -- Albertsons has withdrawn its fiscal year 2003 earnings guidance due to the ongoing labor dispute in Southern California. The company had called for full-year earnings between $1.70 and $1.75 per share. Third quarter earnings...

Bentonville, Ark.--Wal-Mart Stores' third quarter net income totaled $2.03 billion, or 46 cents per share, versus $1.8 billion, or 40 cents per share, last year.(Brief article)
November 19, 2003... BENTONVILLE, Ark. -- Wal-Mart Stores' third quarter net income totaled $2.03 billion, or 46 cents per share, versus $1.8 billion, or 40 cents per share, last year. Analysts expected on average 47 cents per share, according to Thomson First...

Minneapolis--Target Corp.'s third quarter earnings were $302 million, or 33 cents per share--meeting analysts' expectations.(FINANCIALS)
November 19, 2003... MINNEAPOLIS -- Target Corp.'s third quarter earnings were $302 million, or 33 cents per share--meeting analysts' expectations. Last year, earnings were $277 million, or 30 cents per share. Revenues were $11.29 billion, up 10.7 percent....

Harrisburg, Pa.--Rite Aid has sued former chief operating officer and president Tim Noonan who cooperated with prosecutors investigating accounting irregularities under Rite Aid's former management.(FINANCIALS)
November 19, 2003... HARRISBURG, Pa. -- Rite Aid has sued former chief operating officer and president Tim Noonan who cooperated with prosecutors investigating accounting irregularities under Rite Aid's former management. Rite Aid wants Noonan to repay legal fees...

Camp Hill, Pa.--to help raise awareness for diabetes, Rite Aid will hold Diabetes Days today and Saturday in 230 stores nationwide.(NEWSBITES)
November 12, 2003... CAMP HILL, Pa. -- To help raise awareness for diabetes, Rite Aid will hold Diabetes Days today and Saturday in 230 stores nationwide. Rite Aid consumers in those stores will be able to receive an ADA diabetes risk assessment, get advice from...

Woonsocket, R.I.--CVS has inked a deal with Sprint to sell Sprint prepaid long distance calling cards in all 4,137 CVS pharmacies.(prepaid card)(Brief article)
November 12, 2003... WOONSOCKET, R.I. -- CVS has inked a deal with Sprint to sell Sprint prepaid long distance calling cards in all 4,137 CVS pharmacies. According to the analyst firm Atlantic-ACM, the prepaid calling card industry is expected to grow at a rate...

Clearwater, Fla.--Eckerd is celebrating this week the opening of two new drug stores in Phoenix and Scottsdale, Ariz.(NEWSBITES)
November 12, 2003... CLEARWATER, Fla. -- Eckerd is celebrating this week the opening of two new drug stores in Phoenix and Scottsdale, Ariz. The new units feature a drive-through pharmacy; a health education center, which provides customers with health...

Cincinnati--Kroger Great Lakes division will open Nov. 19 its renovated store in Port Huron, Mich.(NEWSBITES)
November 12, 2003... CINCINNATI -- Kroger Great Lakes division will open Nov. 19 its renovated store in Port Huron, Mich. The revamped unit will feature a larger pharmacy with a drive-through window, an expanded dairy section, frozen and prepared food and a...

Dunmore, Pa.--Medicap Pharmacy today is celebrating the grand opening of its new Dunmore Medicap Pharmacy.(NEWSBITES)
November 12, 2003... DUNMORE, Pa. -- Medicap Pharmacy today is celebrating the grand opening of its new Dunmore Medicap Pharmacy. The celebration will continue through Nov. 15. The new store features free delivery to Dunmore and surrounding areas.

Harris: Eckerd's value message hasn't 'registered' with shoppers.( assortment message with customers )(Brief article)
November 12, 2003... CLEARWATER, Fla. -- Eckerd, which posted softer-than-expected third quarter results, admits that it has been "hit hard" at both the pharmacy counter and the front end as competition heats up. However, chairman and chief executive officer...

Court orders Canadian drug importer Rx Depot to shut down.(prescription costs )(Brief article)
November 12, 2003... TULSA, Okla. -- U.S. District Court Judge Claire Eagan ruled Friday against Rx Depot, effectively shutting down some 85 Rx Depot and Rx of Canada locations that had facilitated the import of medicines from Canada into the United States. ...

Court tosses criminal charges against ex-Kmart executives.(Securities and Exchange Commission)(Brief article)
November 12, 2003... DETROIT -- At the request of prosecutors, the government dismissed criminal charges Friday against ex-Kmart executives Enio "Tony" Montini Jr. and Joseph Hofmeister, who ran Kmart's drug division. The men were charged with securities...

Walgreens Health Initiatives develops Advantage90 plan.(rising prescription drug costs)(Brief article)
November 12, 2003... DEERFIELD, Ill. -- Walgreens Health Initiatives, the retailer's managed care division, has developed a new Advantage90 program to help health plans and employees control rising prescription drug costs. Advantage90 provides members the...

Shoppers has positive 3Q; denies interest in Eckerd.(Canadian drug chain reported)(Financial report)(Brief article)
November 12, 2003... TORONTO -- Strong front-end sales helped Shoppers Drug Mart exceed analyst expectations for its third quarter, the Canadian drug chain reported last Wednesday. Glenn Murphy, chairman and chief executive officer, identified successful...

Familymeds.com takes advantage of IRS OTC ruling.(cardholders to buy OTC drugs online)(Brief article)
November 12, 2003... FARMINGTON, Conn. -- Familymeds has partnered with MBI, a provider of flexible spending account debit cards, to allow MBI cardholders to buy OTC drugs online at Familymeds.com. The partnership is one of the first such initiatives since...

Eckerd pharmacists take part in Fla. Medicaid pilot project.(Florida Pharmacy Association)(Brief article)
November 12, 2003... CLEARWATER, Fla. -- Eckerd announced Monday a select number of its pharmacists in four Florida counties are participating in a pilot project aimed at improving medication use among state Medicaid recipients. Working in cooperation with...

Bentonville, Ark.--nine of the 250 workers arrested in a federal raid on Wal-Mart stores have filed a racketeering lawsuit against Wal-Mart, according to published reports.(FINANCIALS)
November 12, 2003... BENTONVILLE, Ark. -- Nine of the 250 workers arrested in a federal raid on Wal-Mart stores have filed a racketeering lawsuit against Wal-Mart, according to published reports. The suit seeks class-action status for perhaps thousands of...

Schering-Plough.(FINANCIALS)
November 12, 2003... KENILWORTH, N.J. -- Schering-Plough has named Robert Bertolini executive vice president and chief financial officer, effective Nov. 17. He succeeds Jack Wyszomierski, who is leaving the company. Previously, Bertolini was the lead partner in...

Zaandam, Netherlands--Royal Ahold's 2003 half-year sales totaled euro 30.3 billion, down 11.8 percent.(FINANCIALS)
November 12, 2003... ZAANDAM, Netherlands -- Royal Ahold's 2003 half-year sales totaled euro 30.3 billion, down 11.8 percent. Sales at its U.S. Foodservice unit slipped 0.7 percent. The retailer also revealed a three-year "Road to Recovery" plan to rebuild its...

Dayton, Ohio--a federal judge last week dismissed a claim by Playtex Products that the applicator of Procter & Gamble's Tampax Pearl tampons infringes on an existing Playtex patent.(FINANCIALS)
November 12, 2003... DAYTON, Ohio -- A federal judge last week dismissed a claim by Playtex Products that the applicator of Procter & Gamble's Tampax Pearl tampons infringes on an existing Playtex patent. The judge said the Tampax Pearl applicator does not...

October sales performances.(Statistical table)(Statistical table)
November 12, 2003... October sales performances Total monthly % increase Same-store $ sales over sales Company in billions last year % increase Wal-Mart (1) ...

Rite Aid has teamed up with DataMentors, which designs and supports database marketing products, to use its DataFuse householding technology as the core application for the chain's Rite Reward customer loyalty program.(Newsbites)(Brief Article)
November 5, 2003... TAMPA, Fla. -- Rite Aid has teamed up with Data-Mentors, which designs and supports database marketing products, to use its DataFuse householding technology as the core application for the chain's Rite Reward customer loyalty program. The...

Duane Reade and Rite Aid are the first drug chains offering pre-paid Napster cards for 15 digital music downloads for $14.85.(Newsbites)(Brief Article)
November 5, 2003... NEW YORK -- Duane Reade and Rite Aid are the first drug chains offering pre-paid Napster cards for 15 digital music downloads for $14.85. The cards allow teens too young to own a credit card the chance to download music from the Web.

Penn Traffic Co., which filed for Chapter 11 on May 30, is seeking court approval to close 25 more supermarkets.(Newsbites)(Brief Article)
November 5, 2003... SYRACUSE, N.Y. -- Penn Traffic Co., which filed for Chapter 11 on May 30, is seeking court approval to close 25 more supermarkets. The move will impact 940 employees. In total, the chain is planning to close 42 of its 211 stores since its...

The Consumer Confidence Index, which declined last month, now stands at 81.1, up from 77 in September, The Conference Board announced last week.(Newsbites)(Brief Article)
November 5, 2003... NEW YORK -- The Consumer Confidence Index, which declined last month, now stands at 81.1, up from 77 in September, The Conference Board announced last week. The Conference Board attributed the increase to a more favorable job market.

ShopKo Stores has named Matt Lynch senior vice president and chief information officer.(Newsbites)(Brief Article)
November 5, 2003... GREEN BAY, Wis. -- ShopKo Stores has named Matt Lynch senior vice president and chief information officer. Previously, he served as vice president of operations and technology services. Separately, ShopKo named Paul White division senior vice...

More profitable mix drives CVS third quarter sales.(Brief Article)
November 5, 2003... WOONSOCKET, R.I. -- Driven by sharp improvements in its gross margin performance--even beyond the company's own strong expectations--CVS last week reported a net earnings increase of 14.2 percent to $187.8 million during the third quarter....

Leading drug chains post positive October sales results.
November 5, 2003... NEW YORK -- October sales for leading drug chains Walgreens, CVS and Rite Aid were anything but scary as Halloween helped drive sales at the front end. At Walgreens, sales got a 16.6 percent jolt and reached $2.99 billion. Meanwhile,...

Walgreens unveils exclusive fragrance from Firmenich.(Brief Article)
November 5, 2003... DEERFIELD, Ill. -- Walgreens, regarded by many industry watchers as the leading fragrance merchant in the chain drug channel, aims to rejuvenate flat fragrance sales with an exclusive blockbuster fragrance launch. This fall, Walgreens...

Judge expected to decide on Rx Depot injunction.(Brief Article)
November 5, 2003... TULSA, Okla. -- U.S. District Judge Claire Eagan is expected to decide this week if Rx Depot, a storefront facilitating the importation of medicines from Canada, must shut its doors. Such a move could be a fatal blow to similar storefront...

Drugstore.com to buy eye care biz.(Brief Article)
November 5, 2003... BELLEVUE, Wash. -- Drugstore.com plans to acquire International Vision Direct--a move that enables the online retailer to expand into the high-order, high-retention eye care business. Under the agreement, drugstore.com will acquire the...

Safeway takes Dominick's of the selling block, for now.(Brief Article)
November 5, 2003... PLEASANTON, Calif. -- Safeway has pulled the plug on plans to sell its Dominick's division because the prospective, unnamed buyer could not reach an "acceptable" labor agreement with the union. Leading the effort to bolster the...

Calif. pharmacists cross picket lines.(Brief Article)
November 5, 2003... LOS ANGELES -- Nearly all of the striking pharmacists at Vons and Pavilions stores in Southern California have crossed the picket lines and returned to work. As of last Wednesday, 91 of the 143 pharmacies in Southern California Vons and...

NTU: Ill. Gov.'s reimportation plan faulty.(Brief Article)
November 5, 2003... ALEXANDRIA, Va. -- Looking to topple Illinois Gov. Rod Blagojevich's plan to import medicines from Canada, the National Taxpayers Union issued on Monday a study that it hopes will serve "as a warning to policymakers hoping to replicate...

Shares of drug chains CVS, Walgreens and Rite Aid were little changed following the release of October sales results.(Financials)(Brief Article)
November 5, 2003... NEW YORK -- Shares of drug chains CVS, Walgreens and Rite Aid were little changed following the release of October sales results. Shares of CVS closed at $35.51, up .37 percent; shares of Walgreens closed at $35.40, down .06 percent; and...

Spartan Stores, which operates 54 supermarkets and 21 deep-discount drug stores, is slashing 70 administrative staff positions in an effort to save $4 million annually.(Financials)(Brief Article)
November 5, 2003... GRAND RAPIDS, Mich. -- Spartan Stores, which operates 54 supermarkets and 21 deep-discount drug stores, is slashing 70 administrative staff positions in an effort to save $4 million annually. The move will result in non-recurring charges of...

Teva Pharmaceutical Industries acquired Sicor on Friday in a cash-and-stock transaction totaling $3.4 billion.(Financials)(Brief Article)
November 5, 2003... JERUSALEM -- Teva Pharmaceutical Industries acquired Sicor on Friday in a cash-and-stock transaction totaling $3.4 billion. The acquisition opens the generic injectables market to Teva. Teva surpassed Mylan Laboratories as the top generic...

Revlon last week posted a wider third quarter net loss of $54.7 million on sales of $316.5 million, which dipped 2.1 percent from the year-ago period.(Financials)(Brief Article)
November 5, 2003... NEW YORK -- Revlon last week posted a wider third quarter net loss of $54.7 million on sales of $316.5 million, which dipped 2.1 percent from the year-ago period. Results for the quarter include $5 million in costs for the company's growth...