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Rite Aid to issue new debt, refinance credit

Rite Aid to issue new debt, refinance credit

Rite Aid Corp. plans a $650 million debt offering and a new revolving credit facility to replace its current $1.175 billion revolver. The drug store chain said Monday that it aims to offer $650 million in senior secured notes due in 2020. Plans call for the proceeds of the offering, along

Eli Lilly takes aim at diabetes

Eli Lilly and Co. this weekend is participating in an event hosted by the American Diabetes Association (ADA) to help raise awareness among African-Americans about the need to better manage diabetes. The 12th annual Victory Over Diabetes event on Aug.

Walgreens goes live with new social responsibility site

Walgreen Co. has launched a redesigned social responsibility web site that it said will make it easier for socially-conscious consumers, investors and employees to find information about the company’s commitment to community, diversity, supplier diversity, disability inclusion and the environment.

Former Actavis CEO to join Watson

Sigurdur Oli Olafsson, formerly chief executive officer of Actavis Group, is joining Watson Pharmaceuticals as executive vice president of global generics. Watson said Wednesday that Olafsson will start in the position on Sept. 1.

2Q sales surge at drugstore.com

2Q sales surge at drugstore.com

Drugstore.com saw total revenue jump in the 2010 second quarter, fueled by surging over-the-counter and beauty product sales. The online retailer said Wednesday that for the quarter ended July 4, sales climbed more than 27% to $113.1 million from $88.9 million a year earlier.

Shoppers Drug Mart loyalty program turns 10

Shoppers Drug Mart loyalty program turns 10

Shoppers Drug Mart Corp. is marking the 10th anniversary of its Shoppers Optimum loyalty program with special savings for customers and a series of promotions and events. The Canadian drug store chain said Wednesday that beginning Aug.