Aetna signs long-term PBM deal with CVS Caremark
Aetna Inc. has agreed to use CVS Caremark Corp. to provide pharmacy benefit management services to its 9.7 million members for the next 12 years.
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CVS rolling out urban store format
CVS Caremark Corp. is converting a growing number of outlets to its urban store concept. A spokesman for the drug store chain says that by the year’s end about 300 CVS stores in large cities across the country will sport the new look, which features more non-health care products along with a
New realities spur Shoppers Drug Mart to adapt
Executives at Shoppers Drug Mart (SDM) say that the recent rollback in pharmacy reimbursement rates across Canada is likely to slow the retailer’s growth in the coming years.
HHS: Insurers must offer free preventive health services
The Obama administration has issued new rules that require health insurers to provide free coverage of a wide range of preventive health services. The rules are intended to improve access to and use of these services, which currently are often subject to deductibles, coinsurance or copayments.
Drug chains, suppliers gear up for flu season
Chain drug retailers are readying now to deliver millions of flu shots starting as early as next month. The flu season is expected to start in the fall, and eight flu vaccines from six companies have been approved by the Food and Drug Administration, precluding a repeat of last year’s concerns over
Navarro kicks off renovation program with flagship store
Navarro Discount Pharmacies has upgraded and reopened its flagship store in Miami and plans similar upgrades for other drug store locations. The retailer recently held a grand reopening of its original store at 1243 S.W. 8 St. in Miami, which opened in 1961 as El Nacional Drug Store.
Kerr appoints Domann as VP
Former pharmaceutical company executive Richard Domann has joined Kerr Drug’s Kerr Health subsidiary. Domann, who has more than three decades of experience in the drug industry, is the company’s vice president of sales and business development.
Back-to-school shopper needs targeted
Expectations for back-to-school spending may be up or down this year, depending on which consumer survey is consulted.
Castellani set to take the helm at PhRMA
John Castellani has been named president and chief executive officer of the Pharmaceutical Research and Manufacturers of America.
Standley moves quickly to fill COO’s post at Rite Aid
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.
Walgreens poised to bolster food offerings
Later this summer Walgreen Co. plans to give its customers a taste of Duane Reade’s successful private label program as it continues to ramp up its food offering.
MTM legislation wins support from Rx groups
Building on the pharmacy-specific provisions in the health care reform law, the National Association of Chain Drug Stores and the National Community Pharmacists Association (NCPA) have endorsed medication therapy management (MTM) legislation. The MTM bill was authored and introduced by Sen.
Walmart shifts key U.S. executives
Walmart has made several changes in its management ranks in recent weeks. The biggest of those changes has been the appointment of Walmart U.S. chief operating officer Bill Simon to president and chief executive officer of the domestic unit.
Pharmasave, Rx PharmaChoice team up
The Canadian drug chains Pharmasave and Rx PharmaChoice have formed a strategic alliance that executives say will strengthen both companies.
Obama bypasses Senate to fill top CMS post
After the confirmation of President Obama’s choice to run the Centers for Medicare and Medicaid Services (CMS) was held up for nearly three months by Republicans, the president bypassed the legislators earlier this month and appointed Donald Berwick to the post while the Senate was on its summer rec
Jean Coutu mulls drug reform impact
Jean Coutu Group, which posted increased profit in the first quarter, is waiting to see how provincial drug reform will affect its future earnings. Coutu posted a profit of $43.2 million (Canadian) for the fiscal quarter ended May 29, an increase of 12.2% compared with the prior-year period.