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Inside This Issue - News
Despite an 11th-hour attempt, Walgreen Co. was unable to come to contract renewal terms with Express Scripts Inc. and the new year began without a deal in place, putting the drug chain out of the pharmacy benefit manager’s network. In an interview with Chain Drug Review, Walgreens chief executive officer Greg Wasson discusses the implications of the impasse for patients, payers, the company and the retail pharmacy business. Despite the specter of its standoff with pharmacy benefit manager Express Scripts Inc., Walgreen Co. sounded a positive note at its annual shareholders meeting here. A federal judge late last month blocked California’s move to cut Medicaid reimbursements by 10%. National health care spending increased less than 4% in 2010 for the second year in a row as Americans delayed drug purchases, doctor visits and hospital care, according to the Centers for Medicare and Medicaid Services (CMS). The Federal Trade Commission has ended a two-year investigation of CVS Caremark Corp. with no allegations of antitrust violations or anticompetitive behavior. The Supreme Court has set aside an entire week in March to hear arguments over the constitutionality of President Obama’s health care overhaul. The Department of Health and Human Services (HHS) said last month it would not define a single uniform set of “essential health benefits” that must be provided by health insurers for tens of millions of Americans. Rite Aid Corp. is starting off the year with a loyalty program promotion and an initiative to support dieters. A coalition of consumer groups came out this month against the merger of pharmacy benefit managers Express Scripts Inc. and Medco Health Solutions Inc., joining an increasing number of federal lawmakers questioning the deal. The lineup of speakers for the National Association of Chain Drug Stores Annual Meeting, already highlighted by former president George W. Bush, has been extended to include election analyst and University of Virginia professor Larry Sabato.
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