Why is the news that CVS Caremark has secured the mail-order and specialty prescription drug benefit for Federal Employee Program so important? Well, some pundits might say there is no indication that the integrated retail-pharmacy benefit manager model had anything to do with why FEP chose Caremark over Medco. It doesn't matter. As any football coach would say, "A win's a win," and this is a big one.
Navarro Discount Pharmacy, a Hispanic-owned pharmacy chain and an MBF Healthcare portfolio company, has added e-commerce capabilities to its existing website. The retailer also plans to add in the fall an interactive social media retail forum, video, content on family and health-related topics, and reviews.
Fusion Brands, the parent company of beauty brands FusionBeauty and Clean, has partnered with Sony Pictures and CBS Consumer Products to launch Jabot Cosmetics, a fictional beauty brand that will become available for purchase to consumers.
Japanese cosmetics company Pola Orbis Holdings plans to acquire H2O Plus, a privately held developer, manufacturer and marketer of prestige, branded marine-based natural skin care products for the face and body.
Capital spending for the retail industry is expected to increase 16% in 2011 to $42.5 billion, with all subsegments projecting double-digit percentage increases — except for mass merchants, whose growth is projected to rise 9% — according to a survey by Equity Research.
In a major win for its pharmacy benefit management business, CVS Caremark will handle the $3 billion mail-order and specialty prescription drug benefit for the Federal Employee Program starting January 2012, which, for the last three years, had been handled by rival Medco Health Solutions.
The House of Representatives last week passed the FY2012 Defense Authorization bill by a vote of 322 to 96. The bill includes a small increase in the Tricare Prime fee, the American Society of Military Comptrollers noted in a statement, but caps future increases at no more than the cost-of-living adjustment.
99 Cents Only Stores announced that retail sales for the fourth quarter of fiscal 2011, a 14-week period, were $366.4 million, compared with $328.6 million for the fourth quarter of fiscal 2010, a 13-week period.
The fact that CVS Caremark convened its first-ever national forum in an effort to battle the $300 billion problem of medication nonadherence is important on several fronts, including the simple fact that retail pharmacy deserves credit for more effectively communicating what adherence is and why it's important.
Walgreens on Wednesday promoted Mike Spear to divisional merchandise manager of the retailer’s personal care division and announced that Lauren Vondrasek is transitioning to the company’s beauty merchandising unit, which is headed by Barbara Larson.
Cosmetic Executive Women recognized the most innovative beauty products of the year at the 17th Annual CEW Beauty Awards held May 20 in New York, which for the first time included the new Eco Beauty Award and a partnership with social networking site Foursquare.
More and more, there is a new niche being carved out of the take-home test kits being offered through pharmacy. It used to be only pregnancy and ovulation test kits that were available in that space. Now there is a plethora of offerings, including tests for drug abuse, screenings for such conditions as high cholesterol, paternity tests and tests for sexually transmitted diseases.