NewsBytes on WAG's Rx purchasing team, WMT's Duncan Mac Naughton, CVS Q4 results and more
DEERFIELD, Ill. — Walgreens this month rounded out the pharmacy purchasing team led by Jeff Berkowitz, who joined the company in the fall as SVP pharmaceutical development and market access.
The team includes Frank DeStefano, promoted to group VP pharmacy purchasing and supply chain and responsible for all branded and generic pharmaceutical purchases and pharmacy inventory optimization across the company’s retail, mail, specialty, home infusion, on-site and work-site pharmacy units; Mike Bleser, promoted to divisional VP pharmacy supply chain and analytics and responsible for strategic management of pharmacy inventory across Walgreens; Mike Allen, promoted to divisional VP generic pharmacy purchasing and strategy and responsible for all generic drug purchasing; Jeff Foreman, who joins Walgreens from Cardinal Health as divisional VP brand pharmaceutical wholesaler and vaccine purchasing; and Gerry Gleeson, who joins Walgreens from Merck as divisional VP of pharmaceutical development responsible for optimizing Walgreens’ relationships with pharmaceutical manufacturers.
BENTONVILLE, Ark. — Walmart named Duncan Mac Naughton chief merchandising officer for the company’s U.S. division, less than three months after he was named EVP merchandising.
In other company news, Walmart named Cindy Davis EVP global consumer insights, a new business unit for the company. Davis previously served as EVP membership and marketing for Sam’s Club.
CAMBRIDGE, Mass. — Sanofi-Aventis has agreed to acquire U.S. biotech giant Genzyme for $20.1 billion. Sanofi plans to make Genzyme its “global center for excellence” in rare diseases.
WOONSOCKET, R.I. — CVS Caremark reported that fourth-quarter net revenues dipped 4.1% to $24.8 billion, with net income of $1.03 billion compared with $1.05 billion the prior year. Retail pharmacy revenues rose 3.1% to $14.9 billion during the three-month period ended Dec. 31, 2010. Same-store sales increased 1.7%, with front-end comps up 1% and pharmacy comps up 2%, driven by a 220 basis point improvement from Maintenance Choice.