Content about Economy of the United States

WHAT IT MEANS AND WHY IT'S IMPORTANT — In recent years, Duane Reade has gone from simply being Manhattan's homegrown pharmacy chain to a truly innovative retailer with unique product offerings and marketing concepts that even the biggest retailers can learn from. And visionary merchant Joe Magnacca has received a lot of credit for the chain's transformation — as he should.

WOONSOCKET, R.I. — Despite a difficult economy and rising health costs, the benefits of an integrated pharmacy service were evident as CVS Caremark helped its pharmacy benefit manager clients — employers, health plans and third-party administrators — manage pharmacy costs, according to the company's annual "Insights Report."

MINNEAPOLIS — Nash Finch, a food distribution company, on Monday named retired CVS Caremark president Chris Bodine to the company’s board.

BENTONVILLE, Ark. and HOFFMAN ESTATES, Ill. — Walmart and Sears Holdings have both announced their commitment to helping military members maintain employment when moving from one community to another.

The commitment is in line with the new Joining Forces initiative, launched by First Lady Michelle Obama and Jill Biden to raise awareness around the challenges that military personnel and their spouses endure when moving from one community to another.

TORONTO — Mederma Skin Care scars gel and Mederma stretch marks therapy now are available in Canada at such retailers as Shoppers Drug Mart, London Drugs, Walmart and Pharma Plus, according to Merz Pharma Canada.

Mederma scar gel and Mederma stretch marks therapy are formulated with cepalin, a proprietary botanical extract derived from onions.

Mederma scar gel is designed to improve the appearance of scars caused by burns, injuries, acne and surgery.

NEW YORK — A drug originally developed by scientists in the Soviet Union to treat allergies and currently under investigation by Pfizer and Medivation did not yield significant results in a late-stage clinical trial of patients with Huntington disease, a disorder that leads to cognitive decline, the companies said Monday.

BENTONVILLE, Ark. — Walmart is looking to distinguish itself from the competition.

The retailer announced that it is reinvigorating its price leadership promise, bringing back products its customers have asked for and simplifying its ad match policy.

WHAT IT MEANS AND WHY IT’S IMPORTANT — It’s interesting how things can change over the course of a year, and the huge growth of Rite Aid’s Wellness+ program provides a good example.

(THE NEWS: Rite Aid finishes tough fiscal year, but Q4 shows improvements. For the full story, click here.)

SAN DIEGO — Pfizer is partnering with San Diego biotech company Zacharon Pharmaceuticals to develop treatments for rare genetic disorders Zacharon said Thursday.

Under the collaboration, which could garner Zacharon up to $210 million, the companies will discover and develop pharmaceutical drugs for treating lysosomal storage disorders, a class of illnesses that includes Fabry disease, Gaucher disease, Pompe disease and Tay-Sachs disease.

DEERFIELD, Ill. — Walgreens VP clinical affairs David Lorber will present during the Pinsonault Associates Managed Markets Summit on April 12 in Miami, Fla., the retailer announced Thursday.

The session, titled "Employer Issues in Specialty Pharmacy," will examine concerns for payers, including cost management and containment, benefit and coverage decisions, formulary and medical policy, pipeline management, provider network, member satisfaction and disruption, and compliance.

BENTONVILLE, Ark. — Walmart announced that, through the Walmart Foundation, it has donated $319 million in cash and $480 million in in-kind contributions around the globe during the fiscal year ended Jan. 31.

According to Walmart, the company's U.S. giving grew by 64%, largely due to donations of produce, meats, poultry and other nutritious food to local food banks from Walmart stores, Sam's Club locations and distribution centers.

DEERFIELD, Ill. — Walgreens on Tuesday reported March sales of $6.3 billion, an increase of 7.6%. Duane Reade stores, acquired in April 2010, contributed 280 basis points to the total sales increase for the month.

Total front-end sales increased 8.4% in March, including 470 basis points from Duane Reade stores. Despite the negative impact of this year’s later Easter, which falls on April 24 compared with April 4 last year, comparable-store front-end sales increased 1.6%. Customer traffic in comparable stores increased 0.8%, while basket size increased 0.8%.