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Bloom steps down as Fred’s chief exec

Bloom steps down as Fred’s chief exec

Mike Bloom resigned late last month as chief executive officer of struggling Fred’s Inc. Secretary and chief financial officer Joseph Anto was named interim CEO. The resignation came after the chain postponed the release of its fourth quarter and 2017 full-year results.

Amazon drops hospital Rx plan

Amazon drops hospital Rx plan

Amazon.com has dropped a plan to sell pharmaceutical products to hospitals due to the project’s complexity, reported CNBC, citing sources familiar with the matter. The setback illustrates the challenges Amazon faces in getting into the medical supply and pharmaceutical space, CNBC reported.

Novartis announces FDA approval of Gilenya

Novartis announces FDA approval of Gilenya

Novartis announced that the U.S. Food and Drug Administration (FDA) has approved Gilenya (fingolimod) for the treatment of children and adolescents 10 to less than 18 years of age with relapsing forms of multiple sclerosis, making it the first disease-modifying therapy indicated for these patients.

Metro completes Coutu acquisition

Metro completes Coutu acquisition

Metro Inc. has completed its $4.5 billion ($3.6 billion U.S.) acquisition of the Jean Coutu Group, creating a food and drug retailer with more than  1,300 stores in Quebec, Ontario and New Brunswick.