Content about Economics

PALM BEACH, Fla. — Steve Anderson recalled during Sunday morning’s State of the Association address how when he started as the president and CEO of the National Association of Chain Drug Stores five years ago, people were interested to see what his eyes would discover at NACDS and within community pharmacy that might help make a difference for the future. Anderson said that today he answers that question in the same way he did back then: “Every day my eyes see something fresh in what you do — in the innovative offerings of community pharmacy.”

WASHINGTON — The controversial merger between Express Scripts and Medco was completed Monday morning, according to a press release issued by both Express Scripts and the Federal Trade Commission.

WASHINGTON — Prices for generic drugs may be dropping, but increases in branded and specialty drug prices have offset those decreases, according to a new study.

The study, conducted by AARP's Public Policy Institute, found that the cumulative change in drug prices from 2005 to 2009 was almost double the rate of inflation. As a result, the average annual cost of drug therapy continued to rise.

VALLEY FORGE, Pa. — AmerisourceBergen on Thursday reported $20.4 billion in revenue for the first quarter ended Dec. 31, up 2%.

“We are off to a good start in our fiscal year 2012, with December quarter results in line with our expectations and excellent progress being made on the integration of our recent acquisitions,” stated Steven Collis, AmerisourceBergen president and CEO. “We continued to demonstrate expense and working capital discipline, and our balance sheet remains strong, giving us outstanding financial flexibility.”

DEERFIELD, Ill. — Walgreens on Thursday declared a regular quarterly dividend of 22.5 cents per share, a 28.6% increase over the year-ago dividend. The dividend is payable March 12, 2012, to shareholders of record Feb. 17, 2012.

Walgreens has paid a dividend in 317 straight quarters (more than 79 years) and has raised its dividend for 36 consecutive years. Over the last five years, Walgreens' annual dividend rate has increased from 31 cents per share to 90 cents per share, resulting in a compound annual growth rate of 23.8%.

SUNBURY, Pa. — Weis Markets on Monday announced it has lowered the prices on 1,700 staple items and that it will freeze the prices of these products for 90 days through April 2, marking the company’s eighth 90-day Price Freeze since 2009.

CAMBRIDGE, Mass. — Cambridge Consultants on Thursday released a report outlining how the health-and-wellness market may take shape as more consumer-friendly medical devices featuring the latest in technology reach the market.

“Disruption in this market will come from medical firms moving from 10-year product lifecycles and confronting the 18-month lifecycles of the consumer world, and from consumer companies adapting to the rigorous processes demanded by medical regulations,” stated Duncan Smith, head of product development at Cambridge Consultants.

WHAT IT MEANS AND WHY IT'S IMPORTANT — During Black Friday weekend, people were spending more money during an economy where that nasty word "recession" still is on the back of everyone's tongue. But was foot traffic down during the weekend because of the number of tryptophan-dazed consumers walking the aisles a day early to get the best deals? Or did consumers forsake the Black Friday shopping madness in exchange for the no lines/free shipping offered on Cyber Monday?

NEW YORK — A coalition of retail organizations, including the National Retail Federation, the Food Marketing Institute and the National Association of Convenience Stores, have filed a lawsuit charging that the Federal Reserve failed to comply with a new law requiring it to reduce fees bank charge retailers when shoppers use credit cards.

The law, which went into effect Oct. 1, said that banks could charge a maximum of 21 cents when consumers use a debit card, down from an average of 44 cents per transaction.

MINNEAPOLIS — Target shoppers have a new incentive for joining the retailer's REDcard Rewards loyalty program: free shipping on Target.com.

What's more, Target debit cards now can be used on Target.com, the company said.

OAKBROOK TERRACE, Ill. — Redbox remains the dominant player in kiosk DVD rentals with an average of 55 million rentals monthly in second quarter 2011. The company, which built its market dominance on $1 rentals, is testing price increases in some markets. Redbox and Foursquare are partnering to allow consumers to use their smartphones to check availability and reserve titles at their nearest kiosk.


Competitor NDR is experimenting with DVD sales as well as rentals from its kiosks, and may expand the concept.

SPRINGFIELD, Mass. — Big Y is saying "so long," to its self-service checkout lanes at its stores, according to published reports.

The New England-based retailer is slated to phase out self-serve lanes at all 61 locations.