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Merlo: Integrated care sets CVS Health apart
NEW YORK — CVS Health’s integrated pharmacy care model makes it a “partner of choice” in the health care arena, president and chief executive officer Larry Merlo said at the company’s annual Analyst...
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Fred’s agrees to buy 865 Rite Aid stores
NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s Inc. for $950...
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Rite Aid sales, earnings decline in third quarter
CAMP HILL, Pa. — Rite Aid Corp. said slim reimbursement rates, new generic drugs and the ongoing antitrust talks for the merger with Walgreens Boots Alliance (WBA) squeezed sales and earnings for its...
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Fred’s institutes ‘poison pill’ plan
MEMPHIS, Tenn. — Fred’s Inc. has adopted a shareholder rights plan, also known as a “poison pill,” after a hedge fund recently became the company’s single largest shareholder. Fred’s said Tuesday its...
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Domenic Pilla tabbed as McKesson Canada CEO
SAN FRANCISCO and TORONTO — McKesson Corp. has closed its $2.1 billion (U.S.) acquisition of Canadian drug chain Rexall Health and hired Domenic Pilla as chief executive officer of McKesson Canada....
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Larry Merlo named Health Care Exec of the Year
CVS’ Merlo: “With more decision making and accountability shifting to consumers, the cost of care will become more important to them.” WOONSOCKET, R.I. — As Larry Merlo sees things, health care...
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Operations award goes to Richard Ashworth
DEERFIELD, Ill. — As president of pharmacy and retail operations at Walgreens, Richard Ashworth has helped point the chain in a new direction. The change, both at the company’s support office and in...
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Walgreens Boots Alliance posts mixed 1Q results
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) edged past Wall Street’s adjusted earnings per share forecast in its fiscal 2017 first quarter despite declined sales and net income. WBA also reported...
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Retail store sales climb in 3Q at Jean Coutu
VARENNES, Quebec — Jean Coutu Group’s retail network saw sales rise for the fiscal 2017 third quarter, propelled by gains in both the front end and pharmacy. Jean Coutu’s corporate business also...
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2017 Retail Forecast: Times Are A Changin’
“The times they are a changin’,” Nobel laureate Bob Dylan sang in 1964. It’s as true now as it was 53 years ago, especially for the chain drug industry. With the incoming administration of Donald...
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N.Y. governor clamps down on drug pricing
(*Note: Go to 42:05 of video for Cuomo’s discussion of prescription drug costs.) ALBANY, N.Y. — New York Gov. Andrew Cuomo unveiled a three-pronged plan to check soaring prescription drug prices,...
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Pharmacist provider status bill back in play
WASHINGTON – Pharmacist provider status legislation is back before Congress, with the bipartisan co-sponsorship of more than a quarter of the Senate. Sens. Chuck Grassley (R., Iowa), Bob Casey (D.,...
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CVS beauty care mix brings new energy
WOONSOCKET, R.I. — CVS Pharmacy is unleashing a bevy of new items to prove it can compete with specialty beauty care merchants and lure younger beauty-crazed shoppers. Competitors offering the latest...
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Americans lack faith in health care sector
NEW YORK — Only a small percentage of Americans believe drug companies and health insurers are on their side when it comes to care versus dollars, a new Harris Poll finds. The Nielsen research...
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Rising rebates squeeze branded drug makers
WASHINGTON — Branded drug manufacturers are shelling out higher rebates and discounts on medications and seeing their share of prescription drug sales shrink, according to a study commissioned by the...
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Retail health clinic visits on the upswing
CHICAGO — Retail health clinics have seen their visits almost double over the past five years but haven’t drawn the same level of usage from health insurance exchange-covered individuals, according to...
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Provider status bill returns to House
WASHINGTON — Just about a week after being reintroduced in the Senate, the pharmacy provider status bill is now once again before the House of Representatives. Reps. Brett Guthrie (R., Ky.), G.K....
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Stefano Pessina: Rite Aid deal talks ‘ongoing’
NEW YORK — Walgreens Boots Alliance (WBA) is still negotiating with the Federal Trade Commission to gain antitrust clearance for its $17 billion deal to acquire Rite Aid Corp., WBA executive vice...
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Walgreens-Rite Aid merger deal date extended
DEERFIELD, Ill., CAMP HILL, Pa. — Walgreens Boots Alliance (WBA) Inc. and Rite Aid Corp. have agreed to extend the end date for their merger deal and lower the offer price. The companies said Monday...
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Fred’s: Deal to buy Rite Aid stores still in effect
MEMPHIS, Tenn. — Fred’s Inc. has reaffirmed its $950 million deal to buy 865 Rite Aid stores to be divested for antitrust clearance of Walgreens Boots Alliance’s pending acquisition of Rite Aid Corp....
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