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Inside This Issue - News
Walgreen Co. has obtained much more than market share with its acquisition of Duane Reade. Walgreens’ acquisition of Duane Reade is the latest move in the century-old company’s ongoing effort to redefine itself. Duane Reade would have been much less attractive to a buyer just a year ago. But the past 12 months have seen the rollout of new and remodeled drug stores that bear little resemblance to the chain’s drab older units. Walgreen Co. grew from about 1,300 outlets in 1986 to more than 4,000 in 2003, all without making any major acquisitions. Although the battle is far from over, the National Association of Chain Drug Stores won a number of significant victories last year, its leaders told the several hundred executives gathered at the association’s Regional Chain Conference here last month. CVS Caremark Corp. opened two stores on this Caribbean island last month, marking the first of what it says will be nine drug stores in yet another new market for the company. While negotiations over pharmacy reimbursement rates continue, Walgreen Co. has delayed its plan to stop filling Medicaid prescriptions at more than half of its stores in Washington state. Kerr Drug Inc.’s Kerr Health subsidiary has launched a web site designed to communicate the health care services provider’s offerings to doctors, patients, caregivers and employers. Drugstore.com has expanded its service offerings with AtHisBest.com, which the company calls the first online store dedicated to providing a full selection of men’s grooming, health, home, fitness, sexual and personal care needs.
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