Drug Fix

05/10/2013 - 3:11pm

Rite Aid announced Wednesday that it has converted nearly all its stores in the Buffalo, N.Y., area to the Wellness store format, breaking the news with an event in the nearby village of Williamsville that included president, chairman and CEO John Standley, COO Ken Martindale and fitness expert Denise Austin.

Just as writers find their voices, Rite Aid has paved its road with wellness. Evidence of that was clear when it announced its latest last month, raking in a $123.1 million profit for the fourth quarter and a $118.1 million profit for the fiscal year, its first profitable year since 2007.

05/03/2013 - 3:39pm

Kinney Drugs, with its almost-100 locations located primarily in upstate New York, is the latest pharmacy to capitalize on the robust offerings available through in-store health kiosks. Because it isn't only about taking that random blood pressure check anymore.

No, the in-store health kiosks going into stores today are designed to augment outcomes-based health care. For example, through the use of "smart cards," PharmaSmart helps track historical health metrics across its trademarked Blood Pressure Tracker web portal.

05/03/2013 - 2:36pm

CVS Caremark executives were upbeat during last week’s conference call with analysts as the company pulled in a “strong” first quarter and narrowed its 2013 guidance to reflect higher-than-expected performance.

The positive start to 2013 is important as it further demonstrates that CVS Caremark’s distinctive, integrated healthcare model is resonating and spelling success for this pharmacy innovation company.

05/03/2013 - 2:12pm

Jobs data from the Department of Labor released Friday show that among the 165,000 jobs added overall were 29,000 in the retail sector, results that industry trade group the National Retail Federation heralded as possibly boding well for the economy in the future.

While the numbers themselves speak volumes, it's important to consider some of the factors behind them that explain why the sector has thrived.

04/26/2013 - 3:32pm

Pharmacy's value as part of an outcomes-based healthcare alignment was the highlight of the closing business presentation at the National Association of Chain Drug Stores' 2013 Annual Conference. And now it's up to NACDS members to expose Congress leaders to that value quotient on a regular basis.

That was the message shared by incoming NACDS chairman Bob Narveson. It goes to show that even as the gavel passes from the head of one of the industry's largest pharmacy chains to one of the smaller chains, innovation in patient care is happening at all levels.

04/26/2013 - 2:43pm

Cardinal Health announced the renewal of its pharmaceutical distribution agreement with CVS Caremark to supply pharmaceuticals to the company’s retail pharmacies and distribution centers, as McKesson, which generally serves the PBM side of the business, also announced the renewal of its current distribution agreement with the pharmacy retailer.

The renewal of the agreements was not only critical for both companies but, as Adam Fein, president of Pembroke Consulting and CEO of Drug Channels Institute, wrote in his blog “CVS Caremark Renews with Cardinal and McKesson,” it also “demonstrates wholesalers' value in the brand-name pharmacy supply chain.”

04/26/2013 - 2:16pm

A House Subcommittee on Health hearing Thursday focused on efforts to strengthen the country's pharmaceutical supply chain, and particularly on draft legislation meant to accomplish that.

While often touted as the safest in the world, the U.S. drug supply chain remains vulnerable to counterfeit, adulterated and stolen medications. Given the potentially dangerous risks of using such medicines, it is imperative that they be kept out.

04/19/2013 - 3:37pm

President Barack Obama sent his $3.8 trillion budget proposal to Congress on April 10, and the plan includes a number of provisions designed to cut spending on health care and promote health and wellness.

Overall, the budget is something of a mixed bag for the healthcare industry. While it would provide incentives for expanding the use of generic drugs, for example, it would also cut spending on Medicaid that have drawn opposition from pharmacy retailers, and even generic drug makers disagree with some of its provisions for that industry.

04/19/2013 - 12:36pm

One-third of supermarkets have a dietitian walking their aisles, according to a recent report published by Advertising Age. And almost 9-in-10 grocers have a dietitian housed in their corporate suites.

Is it any wonder? There's a natural synergy between pharmacy and food stores that grocers have been looking to tap in one form or another over the past decade. But now, especially as health systems and large employers become more savvy around the benefits a healthier workforce will have to their bottom lines, this is likely to transform from a supermarket patient's best-kept-secret into a must-have service.

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