Issue 05-21-2012
As market shifts, Wasson assesses Walgreens’ position
During the National Association of Chain Drug Stores Annual Meeting here last month, Greg Wasson, the organization’s new chairman, exuded a sense of confidence despite the considerable challenges faced by the industry.
Merlo: CVS Caremark firing on all cylinders
CVS Caremark Corp. is right where it needs to be to thrive in today’s increasingly complex health care market, president and chief executive officer Larry Merlo said at the company’s annual shareholders meeting here.
Rx loses round in PBM lawsuit
Pharmacy advocates are pressing ahead with a lawsuit to stop the merger of Express Scripts Inc. and Medco Health Solutions Inc. despite a judge’s refusal to grant a preliminary injunction freezing the transaction. On April 25 U.S.
Pharmacists in Ontario face cuts
The Ontario government is consulting with pharmacy industry stakeholders on achieving $55 million (Canadian) in savings in drug spending, according to the Canadian Association of Chain Drug Stores (CACDS).
Work on Rite Aid refinancing progresses
Rite Aid Corp. has added to a debt offering initiated earlier this year, drawing a favorable response from credit rating agencies. The drug chain plans to issue $426 million in senior unsecured notes due in 2020 to help fund a refinancing of debt. This month the company began a cash tender
Pharmasave’s Paish moves on
Sue Paish will end her five-year stint as head of Pharmasave Drugs when she leaves the company later this month to become chief executive officer at the laboratory testing services provider LifeLabs Inc.
Jean Coutu reduces its stake in Rite Aid
The Jean Coutu Group has sold 56 million shares of Rite Aid Corp., reducing its interest in Rite Aid’s outstanding common shares to 19.85%. The sale, at $1.51 per share, netted $83.6 million. The gain will be recorded in Coutu’s net profit during the first quarter of fiscal 2013, since the carrying
CACDS designates McKinnon interim CEO
The Canadian Association of Chain Drug Stores (CACDS) is searching for a new leader. The trade group earlier this month announced that it has named Ian McKinnon interim chief executive officer, taking over for president and CEO Nadine Saby, who has resigned.
Slone joins Walgreens as senior VP
Reuben Slone has been selected senior vice president of supply chain management at Walgreen Co. He will oversee such areas as distribution, transportation, systems integration and engineering as well as the Lean and Six Sigma supply chain initiatives and community outreach.
NACDS honors Katz’s Giancamilli and Unilever’s Brown
Andy Giancamilli and Jerry Brown have been recognized with the chain pharmacy industry’s highest honors. Giancamilli, who retired this year as chief executive officer of Katz Group Canada Ltd. and was a past chairman of the National Association of Chain Drug Stores, received NACDS’ Sheldon W.
PCMA ad targets pharmacies
The Pharmaceutical Care Management Association (PCMA) has gone on the offensive against community pharmacies, running an advertisement here earlier this month that accuses drug stores of overcharging patients. Titled “It’s the Drugstore Lobby vs. Employers,” the print ad ran in Washington, D.C.
Merlo has CVS headed in right direction
a drug chain and a pharmacy benefits management business that
