CVS Caremark’s annual meeting of stockholders held Wednesday morning was an emotional and momentous occasion for the company as it marked the official retirement of Tom Ryan, former chairman and CEO, and the beginning of a new chapter as Larry Merlo takes the reigns as CEO.
With all the talk among the investment community and press about what CVS Caremark should do with its PBM business, it really comes as little surprise that president and CEO Larry Merlo hit the topic head on during Thursday's first-quarter conference call — insisting that there are no plans to split the company.
CVS Caremark is “off to a good start” in 2011 as first-quarter results registered slightly above guidance for both the retail and PBM businesses, and the retail segment continues to gain share. But what president and CEO Larry Merlo wanted to clarify straight away during Thursday morning’s conference was the company’s commitment to its PBM division, and he outlined its plan to further improve PBM performance.
On the final evening of the National Association of Chain Drug Stores Annual Meeting in Scottsdale, the association for the first time honored two individuals in the same year with the Sheldon W. Fantle Lifetime Achievement Award: Mary Sammons, chairman of Rite Aid, and Tom Ryan, chairman of CVS Caremark.
When the pharmacist talks, people listen. The real gem to come out of this survey is where that pharmacist is standing when delivering that over-the-counter recommendation. (Here’s a hint: It ain’t behind the pharmacy counter.)
With more than two-thirds of Americans either overweight or obese, weight management undoubtedly is a critical health issue facing the nation. And the news that RediClinic now is offering a weight-management program speaks to a larger trend with the convenient care industry: expanding service offerings beyond acute care, which includes, for some operators, tools to tackle obesity.
The emergence of the reports by Kalorama Information and Rasmussen Reports are important because they underscore the important role that retail-based healthcare clinics — and the nurse practitioners who work within them — increasingly play in the nation's healthcare system.
The American Pharmacists Association on Monday released its 2010 Pharmacy Today over-the-counter product survey and found that 92% of pharmacists walk a patient to the OTC section to assist with a product selection, noting that the average patient consult takes only three minutes of the patient's time.
Two associations representing dietary supplement companies criticized a British Medical Journal meta-analysis published April 20 that concluded calcium and vitamin D supplementation may increase risk of heart attack and stroke.
Calcium causes heart attacks! Vitamin E kills! Vitamin D makes your eyeballs explode! OK, the last headline was just made up, but these are the kind of B-movie headlines many of these inaccurate meta-analyses generate, especially across the dietary supplement industry.
Newly promoted Rite Aid EVP merchandising Tony Montini isn’t new to the company, having served brief stints there in the late 1980s and early 2000s. But the retailer’s latest initiatives, and the leading roles that Montini and SVP merchandising Bryan Shirtliff will take in them, are the kinds of things that will let the two really leave their mark on the company — and on the industry.
Wegmans Food Markets and Walgreens have agreed to settle the lawsuit commenced by Walgreens in November 2010 in which the drug store chain claimed that certain Wegmans logos infringed Walgreens trademarks, the supermarket chain announced Friday.
Duh, winning! Because there are no losers in this. GlaxoSmithKline will be able to funnel its extensive marketing dollars into a stable of poised-to-explode brands, niche marketers can take those brands being sold and breathe fresh marketing life into them and retailers now benefit most of all because a greater portfolio of brands are being marketed with gusto.
Whoever named the genus to which ragweed plants belong “ambrosia” had a terrific sense of irony. The name, derived from Greek, refers to the food of the gods, but the plant is more like punishment from the gods, considering that it’s the main culprit in seasonal allergies.
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. However, on the pharmacy side of the equation, Frank Scorpiniti was busy leading some important health-and-wellness initiatives at Duane Reade, including helping to develop a growing clinic program in one of the most difficult clinic markets in the country.
GlaxoSmithKline on Thursday identified the remaining noncore over-the-counter brands that it intends to divest as the company focuses its Consumer Healthcare business around a portfolio of fast-growing priority brands and emerging markets.