PHARMACY

Drug Fair Group to hold liquidation sale in 23 stores

BY Antoinette Alexander

SOMERSET, N.J. Drug Fair Group, which filed for bankruptcy and is looking to sell a majority of its assets to Walgreens, is holding a court-ordered bankruptcy liquidation sale in 23 stores.

Hudson Capital Partners LLC is managing the sale that began March 21.

Inventory valued at about $30 million will be completely liquidated at below market prices.

“We would like to express our appreciation to all of the Drug Fair and Cost Cutters employees for their considerable time and effort in helping to build this respected regional chain,” stated A.R. Williams, CFO Hudson Capital Partners.”For more than 50 years, customers have looked to Drug Fair and Cost Cutters for their everyday basic needs, delivered with quality service at a great value. The liquidation sale will provide customers a final opportunity to get all their household needs at even greater discounts.”

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Major drug co. seeks to improve health care in China

BY Alaric DeArment

NEW YORK A U.S. drug maker is collaborating with a microfinance company to find ways to expand health care among the poor in China.

Pfizer announced that it would work with PlaNet Finance to conduct an in-depth research project on the health care needs of China’s working poor. The study will examine availability of medicines, patient purchasing patterns and levels of access to healthcare services.

“Pfizer’s partnership with PlaNet Finance is aligned with the strategy to expand our geographic reach across China,” said Jean-Michel Halfon, Pfizer Emerging Markets Business Unit president and general manager. “I am extremely confident that this partnership will also achieve the broader aim of identifying unique and workable solutions for the diverse medical needs of patients in emerging markets.”

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NCFPDP announces the formation of healthcare standards organization

BY Alaric DeArment

SCOTTSDALE, Ariz. An organization recognizing prescription programs announced Thursday the formation of an association to develop healthcare standards.

The National Council For Prescription Drug Programs said it would form the Standards Charter Organization, a collaboration of U.S. healthcare standards development organizations.

The goals of the new organization, which began to take shape last year, are developing an executive forum and process for senior leadership of the U.S. healthcare standards development community to have strategic and tactical dialogue, planning and collaboration; and to unify and harmonize healthcare industry standards to meet the interoperability and standards definition needs of all healthcare stakeholders.

“The healthcare industry has made great use of information technology to improve capabilities and reduce costs, but little work has been done amongst individual standards development organizations and affiliate organizations to integrate their standards into a seamless interoperable unit,” SCO chairman and SVP of the NCPDP John Klimek said in a statement. “Through the SCO and the foundational work accomplished in its summits over the past year, various industry standards development organizations and affiliate organizations are actively working together on methods to remove barriers and improve capabilities and efficiencies, which will result in more cost-effective healthcare and ultimately better healthcare outcomes.”

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