WALGREENS

WHAT IT MEANS AND WHY IT’S IMPORTANT — Joe Magnacca brings to bear a menagerie of merchandising savvy that will help Walgreens on its way to well. That savvy includes some "old world" retailing perspective by way of Canada’s Shoppers Drug Mart, where a focus on beauty and convenience is paramount. And his recent meteoric rise through the ranks of Duane Reade is testament to just how well he connected with the denizens of the most-populated city in the United States through enhanced merchandising and marketing.

DEERFIELD, Ill. — Walgreens has expanded Joseph Magnacca's role at the drug store chain by appointing him president of daily living products and solutions.

GUILFORD, Conn. — ScarAway announced that two drug wholesalers now will carry its over-the-counter scar care products.

DEERFIELD, Ill. — Walgreens on Wednesday sold its pharmacy benefit management business, Walgreens Health Initiatives, to Catalyst Health Solutions in a cash transaction for $525 million, subject to certain adjustments. The transaction is structured as an acquisition of all of the capital stock of WHI.

DEERFIELD, Ill. — Cheryl Pegus, chief medical officer at Walgreens, will make a presentation during the 11th annual Population Health and Care Coordination Colloquium in Philadelphia next week.

Pegus, who was named the drug store chain's chief medical officer last May, will present during the “Impact and Value of Pharmacist Interventions in Different Settings” session, which will examine the growing role pharmacists are playing in improving clinical outcomes through interventions at community pharmacies and employer worksite health clinics, Walgreens said.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Walgreens’ winning of an award for its MTM services came right before it joined the Care Continuum Alliance — a group of more than 200 stakeholders that provide such services as wellness and prevention programs and management of chronic conditions — of which CVS Caremark already was a member.

(THE NEWS: Walgreens takes top honors for MTM services. For the full story, click here)

WASHINGTON — Walgreens on Friday joined the Care Continuum Alliance, an alliance of more than 200 stakeholders providing services across the continuum of care — from wellness and prevention to chronic condition management and complex care management.

The drug store channel isn’t maximizing its potential in the consumer electronics category. According to research by TWICE and the Stevenson Co., CE sales at Walgreens, Rite Aid and CVS amounted to $111 billion last year, less than 1% of the chains’ combined revenue. At Walmart, electronics comprise about 7% of sales. TWICE’s research also revealed that CE sales at all three drug chains were down last year.