Financial News

SAN FRANCISCO — While pressure to grow will drive more large drug makers to pursue mergers and acquisitions, diminished resources and competition from biotech and specialty pharmaceutical companies will challenge their ability to do so, according to a new report.

WATERTOWN, Mass. — A company that provides cloud-based electronic health record, practice management and care-coordination services is buying a developer of point-of-care mobile health applications for physicians.

Athenahealth announced Monday that it would buy Epocrates for about $293 million, or $11.75 per share. The deal for Epocrates, used by more than 330,000 physicians, is expected to close in second quarter 2013, pending approval from Epocrates' shareholders and other conditions.

DEERFIELD, Ill. — Both the strong incidence of influenza and the rise in the number of flu shots administered in December positively impacted comparable prescriptions filled at Walgreens on a day-fall adjusted basis, the company reported Friday. Flu shots administered at pharmacies and clinics season-to-date were nearly 5.5 million versus approximately 5.3 million last year, the retailer noted. 

MATTHEWS, N.C. — Family Dollar stores reported a 12.7% increase in net sales and a 6.6% increase in comps in first quarter 2013, the company said.

NEW YORK — According to a Bloomberg report published Friday morning, Abbott Laboratories, Johnson & Johnson and Sanofi are all potential suitors for Bausch & Lomb's eye care business in a deal that could be valued as high as $10 billion. 

B&L is being shopped by private equity firm Warburg Pincus, which is working with Goldman Sachs Group, Bloomberg reported, and both Abbott and Sanofi have contracted financial advisors as well. 

Other companies who have been invited to bid include Merck and Pfizer. 

CAMP HILL, Pa. — A shift in the New Year's holiday calendar and the introduction of new generic drugs contributed to a decrease in same-store sales for the month of December at Rite Aid, the retail pharmacy chain said Thursday.

MEMPHIS, Tenn. — Fred's on Thursday reported a 1% sales decline to $209.9 million for the five-week fiscal month ended Dec. 29. Comparable store sales for the month decreased 4.2% compared with a decline of 0.4% in the same period last year.

VALLEY FORGE, Pa. — AmerisourceBergen on Wednesday announced the election of former Campbell Soup president and CEO Douglas Conant to its board, effective immediately. Conant’s election increases the number of AmerisourceBergen directors from nine to 10.

“Doug’s extensive business experience, exceptional leadership capabilities and proven track record for growing brands and businesses make him an excellent addition to our board,” stated Richard Gozon, AmerisourceBergen chairman.