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Catamaran Corp. profit more than doubles in second quarter 2013; PBM announces acquisition of Restat

BY Alaric DeArment

LISLE, Ill. — Pharmacy benefit manager Catamaran Corp. had $3.4 billion in revenues in second quarter 2013, the company said.

That figure represented a 101% increase in the PBM’s revenues in second quarter 2012 and resulted in a profit of $63.4 million, 132% higher than last year.

"During the second quarter of 2013, we continued to successfully execute our growth strategy, driving new customer wins by leveraging our flexibility and customizable model to deliver more control and savings to our clients," Catamaran chairman and CEO Mark Thierer said.

Highlights from the quarter included an announcement Thursday that it would buy PBM Restat for $409.5 million, which the company expects to finalize in fourth quarter 2013; the full integration of Restat is expected to take 18 months following completion of the purchase. Meanwhile, the generic dispensing rate increased by 84%, compared with an 81% increase reported in second quarter 2012 compared with the year before. According to healthcare industry analytics firm IMS Health, about 83% of prescription drugs dispensed in the United States are generics.

"The acquisition of Restat is a great opportunity for us as its core business aligns perfectly with ours," Thierer said. "Restat is the first PBM acquired by Catamaran that is not a current client, and we are excited to combine Catamaran’s flexibility with Restat’s strengths in service and support."


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Publix announces two new openings for North Carolina market

BY Michael Johnsen

LAKELAND, Fla. — Publix Super Markets on Friday announced it will enter the Asheville and Cary markets in North Carolina.

“We’ve made a commitment to North Carolina and its residents to bring our level of stellar service and quality products to market in order to provide customers with the superior shopping experience they deserve,” stated Maria Brous, Publix media and community relations director. “As company owners, we are passionately focused on our customers. We believe that if we take care of our associates, they in turn will take care of our customers, and together we will make our communities a better place. This is our culture, and we are excited about sharing it with North Carolina just as we have in the other five states in which we operate.”

The Asheville location will be a 49,000-square-foot Publix supermarket that will include a drive-thru pharmacy and is expected to open in 2015.

The Cary store, located in Wake County, also will be a 49,000-square-foot Publix supermarket with a grand opening date tentatively planned for late 2014.

Publix previously announced its first three North Carolina locations, opening one in Ballantyne in early 2014 and two in the greater Charlotte area which is slated for a late 2014 opening date. 

And Publix isn’t done. "Publix continues to aggressively look for additional locations throughout the state of North Carolina as it strives to meet and exceed the expectations of the communities it will serve," the company stated in a press release.

Correction: An earlier version of this article stated Publix had bid to acquire Harris Teeter. Kroger Stores is acquiring Harris Teeter. We apologize for the error.


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New color scheme to set apart latest Duracell battery model

BY Alaric DeArment

BETHEL, Conn. — Duracell has introduced a new battery that it said would provide more power than previous models.

The Procter & Gamble-owned brand announced the launch of Duracell Quantum, which includes a Hi-Density Core and PowerCheck per indicator. The battery is sold in a red and copper color scheme.

"Duracell Quantum was engineered from the ground up to offer consumers a premium alkaline battery," Duracell North America general manager Volker Kuhn said. "For the first time in 50 years, we’re changing the color to red and copper to symbolize the quantum leap in power for Duracell."

Duracell Quantum is available now in AA and AAA cell sizes at mass merchandisers, drug and hardware stores nationwide.

The manufacturer’s suggested retail price is as follows:

  • Regular packs (AA2/AAA2) $3.47-$5.47;
  • Regular packs (AA4/AAA4) $4.97-$7.97;
  • Regular packs (AA6/AAA6) $6.47-$8.47;
  • Saver packs (AA8/AAA8) $7.47-$11.47;
  • Value pack (AA12/AAA12) $10.97-$14.97;
  • Value packs (AA16/AAA16) $11.97-$20.97;
  • Mega packs (AA20/AAA20) $13.97-$25.97.


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