Drug Fix

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.

04/19/2013 - 12:11pm

Amazon.com created a virtual health and wellness depot with the launch of its new 50+ Active and Healthy Living Store.

04/12/2013 - 3:32pm

Walgreens released a research article on how health care focused on outcomes could really contribute to lowering healthcare costs. The idea is that by improving individual patient experience, improving the health of the overall patient population and reducing the per capita cost of health care, you can realize better patient outcomes out of invested health resources.

If you take a real close look at what core competencies are necessary to better realize success in that approach, it becomes evident that retail pharmacy is an ideal setting for the process.

04/12/2013 - 3:31pm

Rite Aid reported a $123.1 million profit for fourth quarter 2013 and $118.1 million for the fiscal year - its first profitable year since 2007 - amid greater generic drug penetration and retention of at least three-quarters of the customers who switched over to the chain during the dispute between Walgreens and pharmacy benefit manager Express Scripts, among other factors.

In other words, the factors that helped fuel the nearly $62 million profit the company reported in third quarter 2013 have continued to hold, which means the 4,623-store chain has put itself on track for strong future growth, which will no doubt be helped along by the debt refinancing the company finished in February.

04/12/2013 - 2:25pm

A new Kalorama Information report found that most patients — 91% — who had used a retail clinic were either satisfied or very satisfied with their visit.

The findings are in line with prior studies, which have long been reported by Drug Store News, and are yet further evidence that retail clinics are playing a vital role in the U.S. healthcare system.

04/05/2013 - 3:10pm

Geoscape issued a report projecting the future buying power of both Asian and Hispanic households, respectively.

This report should serve as a wake up call that multi-cultural marketing efforts appealing to the diversity of a shopper base are not just innovative strategies — they're essential.

04/05/2013 - 3:08pm

Retail clinic operator Take Care Clinics, which is owned by Walgreens, is expanding the scope of services within its 300-plus clinics to include management for chronic conditions such as hypertension, diabetes, high cholesterol, asthma and others, as well as additional preventive health services.

Game on! With the increasing shift to chronic care services, expect retail clinics to ramp up even quicker, creating new, more profitable revenue streams and filling huge gaps in care that save payers some serious money. The writing isn't just on the wall. It's printed in big, bold colors like graffiti on a 1970s NYC subway car.