Teva unveils reorganization plan
Just over two months after naming a new chief executive officer, Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, is reorganizing its business and leadership structure.
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Analysts size up Amazon’s pharmacy opportunity
Pharmacy stands as a sizable growth opportunity for Amazon, and its avenues for market entry include acquisitions, with Rite Aid Corp. and Diplomat Pharmacy Inc. among potential targets, according to Cowen analysts John Blackledge and Charles Rhyee.
AmerisourceBergen to buy H.D. Smith
AmerisourceBergen Corp. plans to acquire fellow pharmaceutical distributor H.D. Smith for $815 million in cash. The companies said late Monday that the transaction, pending regulatory review and other closing conditions, is expected to close in early 2018. Springfield, Ill.-based H. D.
Reports: CVS may be near deal to buy Aetna
A deal for CVS Health to acquire Aetna Inc. could happen by the end of the month, published reports say. Citing anonymous sources, The Wall Street Journal reported Monday that CVS was nearing a $66 billion agreement to buy the health insurer, according to reports.
Senior management changes at Rite Aid
Rite Aid Corp. has announced major changes in its executive ranks, following the announcement of the retirements of Tony Montini, executive vice president of merchandising and distribution, and Bill Bergin, group vice president of health and beauty.
Diplomat Pharmacy buys LDI for $595 million
Diplomat Pharmacy Inc. plans to acquire St. Louis-based pharmacy benefit manager LDI Integrated Pharmacy Services for in a $595 million cash and stock deal. The move marks the second PBM acquisition this month by Diplomat, the nation’s largest independent specialty pharmacy. On Nov.
Sales edge in up 3Q at Shoppers Drug Mart
Led by the pharmacy, Shoppers Drug Mart saw sales climb as parent Loblaw Cos. reported financial results for the 2017 third quarter. Loblaw said Wednesday that for the 16 weeks ended Oct. 7, Shoppers Drug Mart totaled revenue of $3.751 billion (Canadian), up 3.8% from $3.613 billion a year earlier.
Former Lilly exec Alex Azar tabbed to head HHS
Biopharmaceutical industry executive Alex Azar has been nominated as secretary of the U.S. Department of Health and Human Services (HHS) to fill the post vacated by Tom Price.
Loblaw Cos. shifts to single loyalty program
Next year, Loblaw Cos. plans to launch a unified customer loyalty program that joins the Shoppers Optimum and PC Plus plans of its Shoppers Drug Mart and supermarket chains.
NACDS sees pharmacy as opioid crisis solution
Pharmacy can be key to thwarting opioid abuse, National Association of Chain Drug Stores president and chief executive officer Steve Anderson told a government summit on the crisis.
CEO succession at Cardinal Health
Cardinal Health Inc. has named chief financial officer Mike Kaufmann to succeed George Barrett as chief executive officer. Plans call for Kaufmann, 54, to take the CEO reins and join Cardinal’s board on Jan. 1.
CVS Health reports decline in 3Q retail sales
Despite sales declines in its retail pharmacy business, CVS Health saw overall revenue rise and bested Wall Street’s earnings forecast for its fiscal 2017 third quarter. CVS said Monday that for the third quarter ended Sept. 30, sales totaled $46.18 billion up 3.5% from $44.
Lawmakers call for TRICARE pilot extension
Forty-nine members of Congress are urging House and Senate leaders to support a one-year extension of the TRICARE Acquisition Cost Parity Pilot Program for retail pharmacy. The National Association of Chain Drug Stores said late Wednesday that the bipartisan group of lawmakers — led by Reps.
President’s opioid crisis commission issues report
The President’s Commission on Combating Drug Addiction and the Opioid Crisis has issued its final report, which includes 56 recommendations to the Trump administration to help fight opioid abuse. President Donald Trump formed the presidential commission, chaired by New Jersey Gov. Chris Christie (R.
Ashworth named Walgreens operations president
Walgreens Boots Alliance (WBA) has promoted Richard Ashworth to president of operations at Walgreens, a newly created position. WBA said Wednesday that Ashworth assumes the new role effective immediately.
U.S. retail sector on track for healthy sales growth
For 2017, the U.S. retail industry stands to turn in solid sales growth, including healthy holiday retail sales, despite continued pressure on operating results, according to Moody’s Investors Service. Moody’s pegs 2017 U.S. retail sales growth at 3% to 4%, upholding its previous outlook.