For the first time, pharmacy sales topped 40% of the quarterly revenue mix at Fred’s Inc. The discount general merchandise chain said Tuesday that total revenue rose 2% to $460.5 million for the third quarter ended Nov. 2, with pharmacy sales climbing by more than 8%. Net income came in at $7.3
Shopko has named Peter McMahon as its new chief executive officer, taking the reins from interim CEO and chief operating officer Mike Bettiga. The general merchandise retailer said Monday that McMahon brings a wealth of retail experience to the company, spanning more than 30 years.
Walmart has named Doug McMillon to replace the retiring Mike Duke as president and chief executive officer, effective Feb. 1. The discount store giant announced the CEO succession plan on Monday. Duke has served as Walmart’s CEO since 2009, when he succeeded Lee Scott.
Moberg Pharma is expanding North American retail distribution of its Kerasal Neurocream, a topical analgesic for foot pain, with a bigger presence for the product at the largest U.S. drug chain.
Answering criticism from opponents of the Affordable Care Act and members of his own party, President Obama announced this month that health insurance plans that were canceled because of the ACA can be renewed for another year.
With the federal government’s new health care exchange beset by technical problems, the number of health plan enrollees through the first month of operation was far below expectations.
CVS Caremark Corp. announced that Mark Cosby plans to step down as CVS/pharmacy president at the end of this year and will be replaced by Helena Foulkes, chief health care strategy and marketing officer.
Rite Aid Corp. is testing a new beauty concept in some of its “wellness store” locations in several markets.
McKesson Corp. has launched a new Local Marketing Support program for its Health Mart franchised stores. Executives say the program will help pharmacy owners develop new revenue streams and promote themselves as community health care providers.
Walgreen Co. veteran Richard Ashworth has been appointed director of health care, health and beauty for the United Kingdom and Republic of Ireland at Alliance Boots GmbH.
Health insurers will have to cover mental illness to the same degree as physical ailments as the Obama administration carries out the largest expansion of behavioral health care in a generation.
CVS Caremark Corp. has named Dr. William Shrank chief scientific officer and chief medical officer for provider innovation and analytics.
Target Corp. has added beauty concierges in 95 stores in New York and New Jersey, the San Francisco Bay area and Dallas-Fort Worth. The concierge is a brand-agnostic expert stationed to answer beauty care customers’ questions.
Front-end suppliers, buyers from regional drug chains and representatives of regional drug wholesalers and grocery stores will be among those attending the Chain Drug Marketing Association’s 88th annual trade expo.
The Senate has moved toward passage of a bill to provide federal regulation of compounding pharmacies. Titled the Drug Quality and Security Act (DQSA), or H.R. 3204, the legislation was approved by the House in late September and by the Senate in a 97-1 preliminary vote on November 12.
Research from Walgreen Co. finds that HIV patients are more likely to be medication-adherent when they use one of the company’s HIV-specialized pharmacies.
