Content about Tennessee

DUBLIN, Ohio — Cardinal Health on Friday announced a new pharmacy college scholarship program, making $1.1 million in scholarship funds available to 13 pharmacy schools. Recipient schools will be endowed with scholarship funding ranging from $50,000 to $125,000.

WASHINGTON — The retail industry won a big victory in Washington, D.C., as the Senate defeated an amendment that proposed to delay swipe-fee reform for another 12 months.

GOODLETTSVILLE, Tenn. — Sales and profits continued to pile up at Dollar General during the first quarter as shoppers sought value at the retailer’s 9,500 stores.

The company reported a 5.4% increase in same-store sales and said total sales increased 10.9% to $3.45 billion during the quarter ended April 29. Profits adjusted to account for several one-time items increased 14% to $166 million, while earnings per share of 48 cents were 2 cents shy of analysts’ consensus estimate due to gross margins pressures.

MEMPHIS, Tenn. — Fred's net income increased 16% to $9.5 million, or 24 cents per diluted share, compared with net income of $8.2 million, or 21 cents per diluted share in the year-earlier period.

The retailer said that total sales rose 3% to $484.4 million from $471.6 million for the same period last year. For comps, Fred's reported a 1% rise on top of a 2.2% increase for the first quarter last year.

Fred's gross profit for first quarter 2011 increased 1% to $137.9 million from $136.9 million in the prior-year period.

CAMP HILL, Pa. — The philanthropic arm of retail pharmacy chain Rite Aid is donating $100,000 in money and supplies to victims of tornadoes in Alabama and Tennessee, the company said Friday.

The Rite Aid Foundation said it would donate $50,000 to the Red Cross and also would donate $50,000 worth of water, snacks, batteries, flashlights, first-aid products, diapers, baby formula and cleaning supplies.

HYDERABAD, India — Dr. Reddy’s Labs will assume ownership of a penicillin manufacturing site in Bristol, Tenn., from GlaxoSmithKline.

The generic drug maker said it completed the acquisition of the facility and related product portfolio, including Augmentin and Amoxil brands. GSK will retain the existing rights for the aforementioned brands outside the United States.

Further financial terms and conditions of the transaction are not being disclosed.

GOODLETTSVILLE, Tenn. — Dollar General maintained its momentum in 2010 by achieving record sales, profits and expansion; and it’s looking like 2011 will bring more of the same. Last year, Dollar General opened 600 new stores and remodeled or relocated another 504 units to end its fiscal year on Jan. 28 with 9,372 stores. The additional square footage combined with a 4.9% same-store sales increase enabled the company to grow total sales by 10.5% to roughly $13 billion.

BRENTWOOD, Tenn. — The Little Clinic has opened a new location inside Kroger's new Marketplace store in Shelbyville, Tenn., according to a local news report.

The opening marks the 11th clinic in the area.

"Being part of a brand-new Kroger Marketplace allows us to increase accessibility of our services for those who will enjoy the many offerings at this store," Tim Pruitt, divisional VP of The Little Clinic, was quoted as saying.

As Drug Store News suggested last month, legislation under consideration in Tennessee and Kentucky that would make the popular decongestant pseudoephedrine only available by prescription has, in fact, sparked interest in neighboring states. Arkansas shares a border with Kentucky, where a PSE prescription-only bill was filed in January, and Mississippi, one of two states that already has passed PSE prescription-only legislation.

NASHVILLE — Tennessee may be the next state to adopt an electronic tracking tool to enforce pseudoephedrine sales restrictions and combat methamphetamine production in real time.

NEW YORK — Pfizer has completed its tender offer for Bristol, Tenn.-based King Pharmaceuticals, Pfizer said Monday.

Pfizer said 230.7 million shares valued at $14.25 each were tendered, representing about 92.5% of King.

Pfizer made its $3.6 billion offer for King in October 2010. The offer cleared the waiting period mandated by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on Friday.