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Retail News Breaks Archives CVS Caremark Corp. forecasts a strong finish to 2012, and its pharmacy business is looking forward to retaining new patients gained from the contract impasse between rivals Walgreen Co. and Express Scripts Inc. (ESI) as well as to generics growth in 2013 and 2014, according to president and chief executive officer Larry Merlo. Rite Aid Corp. trimmed its net loss, beating Wall Street's forecast, but saw sales dip for its fiscal 2013 second quarter. The board of CVS Caremark Corp. has approved a new share repurchase program for up to $6 billion of the company's outstanding common stock. As food and drug retailers strive to promote health and wellness, Walmart is giving consumers some incentive to make better choices in the grocery aisles. Next month will mark the inception of a pharmacy professional group for the specialty drug sector, the National Association of Specialty Pharmacy (NASP). Walgreen Co. and Rx Response, an initiative of the pharmaceutical supply system, have teamed up to help ensure patient access to medications after a natural disaster. Most Medicare Part D beneficiaries are paying more out of their own pockets than they need to, a study by eHealth Inc. reveals. MinuteClinic has formed a clinical affiliation with OU Physicians, Oklahoma's largest physician group with more than 560 doctors. Rite Aid Corp. has purchased Town Hill Pharmacy, an independent drug store in Louisa, Ky. A study by the National Community Pharmacists Association finds that some auditing and reimbursement practices by pharmacy benefit managers are harming community pharmacists' ability to provide patient counseling and care to seniors. In the wake of its acquisition of 45% of Alliance Boots, Walgreen Co. has reconfigured its management to advance its global strategy. Walgreen Co. has wrapped up its acquisition of regional drug store operator USA Drug. CVS/pharmacy is enabling shoppers enrolled in its loyalty program to earn bigger rewards on most purchases during the peak fall and winter shopping season. Stephen Courtman has been appointed president of Health Mart, the drug store franchise network of McKesson Corp. Thomas Moriarty has been named executive vice president and general counsel at CVS Caremark Corp. Walmart is finally getting comfortable with small-box retailing, and the implications for chain drug stores could be ominous.
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