At its Analyst Day event in New York, CVS Caremark Corp. projected robust earnings and revenue growth for fiscal 2012 as executives cited health care trends that bode well for the company’s integrated business model, which combines a retail drug chain and pharmacy benefit management unit.
Bi-Lo LLC and Winn-Dixie Stores Inc. have agreed to merge in a deal that stands to create a food and drug chain of nearly 690 stores in eight southeastern states. Under the merger agreement announced Monday, Bi-Lo plans to acquire all outstanding shares of Winn-Dixie stock for about $560 million.
Financial analysts are showing renewed faith in CVS Caremark Corp.’s integrated business model. Operating a retail drug store chain and a pharmacy benefit manager (PBM), the company is well-positioned to prosper amid recent shifts in the pharmacy sector, according to analysts.
A group of 40 congressmen have called on the Centers for Medicare & Medicaid Services (CMS) to stop publishing draft lists of federal upper limits (FULs) used for reimbursing pharmacies under Medicaid.
Walgreen Co. has become a national strategic partner of the American Diabetes Association (ADA) to collaborate with the organization on its Stop Diabetes effort.
CVS Caremark Corp. has been awarded the 2011 Supply Chain Distinction Award North America in the Logistics Best Practice Category. CVS said Thursday that the awards, presented at the annual Supply Chain Logistics Summit in Dallas, held by media firm WTG Ltd.
The National Association of Chain Drug Stores said the chief executive officers of Express Scripts and Medco Health Solutions made "misleading statements" in testimony at a Senate Judiciary subcommittee hearing on the two pharmacy benefit managers’ merger deal.
About 60 Medicine Shoppe and Medicap pharmacy owners nationwide have filed an arbitration claim against their parent franchise companies, which are subsidiaries of Cardinal Health Inc., for allegedly failing to support the franchise systems.
Ric Jurgens, chairman and chief executive officer of Hy-Vee Inc., plans to retire from the company in the middle of next year. Jurgens told shareholders at the food and drug retailer’s annual meeting Wednesday that he will retire on June 1. He also said that he will ask Hy-Vee’s board,
Rite Aid Corp. reported upticks in revenue and same-store sales for its fiscal 2012 third quarter and narrowed its net loss in the period, beating Wall Street analyst estimates. Rite Aid said Thursday that for the 13-week third quarter ended Nov. 26, revenue totaled $6.3 billion, up 1.8% from $6.
Jeff Berry has resigned his position as chief financial officer at Physicians Formula Holdings Inc. The cosmetics and skin care product maker said Wednesday that Berry is leaving the company "to pursue other professional interests" and is slated to exit his post on Jan. 13.
Legislation approved this week in New York highlights the escalating tug of war between retail pharmacies and pharmacy benefit managers (PBMs). New York Gov.
Walgreen Co. is leveraging the accessibility of its drug stores to help provide pertussis and flu vaccinations to people in its home state. Walgreens said late Tuesday that has expanded availability of immunizations for whooping cough to all of its more than 580 pharmacies in Illinois.
Rite Aid Corp. has tapped Ecova, an energy and sustainability solution provider, to to provide utility expense and energy management services. Ecova said Tuesday that it will assist Rite Aid in monitoring, understanding and reducing energy use at its approximately 4,700 drug stores nationwide.
Germany-based Sebamed skin care products are slated to hit shelves at CVS/pharmacy next year. Physician Laboratories Inc., the U.S. distributor of Sebamed, said Tuesday that the products will be carried in 7,300 CVS stores starting in mid-January.
Stacey Lelko has joined pharmacy-based patient care service provider Mirixa Corp. as vice president of sales and business development. Mirixa said Tuesday that Lelko will lead its national sales team and develop strategic partner relationships.
