Legislation that enables pharmacists to administer medication therapy management (MTM) services to patients in Louisiana has drawn praise from the National Association of Chain Drug Stores. Signed into law on June 25 by Louisiana Gov. Bobby Jindal (D.), the bill was introduced by State Rep.
McKesson Corp. said it has been recognized by Walmart as one of the retail giant’s best-performing suppliers in 2009.
Cardinal Health Inc. has finalized its acquisition of Healthcare Solutions Holding LLC. The pharmaceutical and health care products distributor announced the $517 million cash deal early last month, saying that the agreement would expand the company’s presence in specialty pharmaceutical services.
Health care reform is being viewed more favorably following the Obama administration’s rollout of multiple regulations laying the groundwork for the law’s implementation.
An advisory committee to the Food and Drug Administration has recommended that GlaxoSmithKline PLC’s (GSK) diabetes drug Avandia should remain on the market, but possibly with tough new restrictions and new warnings.
The economy may be in for a positive jolt if back-to-school spending rises by the 16% predicted by the National Retail Federation (NRF). The NRF, citing consumers surveyed by BIGResearch, said families with students plan to spend about $55.1 billion, compared with $47.5 billion a year earlier.
Pharmaprix stores will make their debit card readers more accessible to disabled customers, under an agreement with the Quebec Human Rights Commission. Pharmaprix, operated by Toronto-based Shoppers Drug Mart Corp.
Walgreen Co. has increased its quarterly dividend 27.3% to 17.5 cents per share from 13.75 cents per share. The dividend is payable September 11 to shareholders of record August 19. The dividend increase raises the annual rate from 55 cents per share to 70 cents per share.
Dietary supplements supplier NBTY Inc. has agreed to be purchased by private equity firm Carlyle Group for $3.8 billion in one of the biggest private equity deals thus far in 2010. Carlyle’s $55 a share cash offer is 47% above NBTY’s stock close on Wednesday. NBTY announced the deal a day after
Former CVS Caremark Corp. chairman Mac Crawford and Wilbur Ross Jr. of WL Ross & Co. are forming a joint venture to invest in and restructure health care companies. The partnership could spend more than $1 billion to "build a major position in health care," Ross said.
Retail sales slipped in June for the second consecutive month, fueling fears that the economy’s turnaround will lose steam over the remainder of the year. Sales dipped 0.5% in June, the Commerce Department reported today. The decline came on the heels of a 1.1% drop in May.
Pharmaceutical industry veteran Dick Domann has been named vice president of sales and business development for the Kerr Health unit of Kerr Drug. "Dick’s immense pharmaceutical background makes him a wonderful addition to our team,” said Kerr chief executive officer Tony Civello.
Pharmaceutical Research and Manufacturers of America (PhRMA) has named John Castellani its new president and chief executive officer, effective September 1.
Merck & Co. is planning to phase out operations at eight research sites and eight manufacturing sites. It is also continuing to consolidate office facilities worldwide as part of the global merger restructuring program that began last December following its acquisition of Schering-Plough Corp.
The provincial government will cut generic drug prices by reducing rebates manufacturers pay to pharmacies, including British Columbia-based London Drugs and Pharmasave.
A day after Rite Aid Corp. chief operating officer John Standley took the reins as the drug chain’s president and chief executive officer, the company named senior executive vice president of merchandising, marketing and logistics Ken Martindale as its new chief operating officer.
