Express Scripts SEC filing: PBM expects to close Medco merger next week
ST. LOUIS — The Federal Trade Commission’s ruling on the Express Scripts and Medco merger may be imminent, Express Scripts noted in a Form 8-K filing to the Securities and Exchange Commission on Wednesday.
"Express Scripts and Medco have previously announced that the parties expected that the mergers will be completed by the earlier part of the second quarter of 2012," the company stated. "Express Scripts now expects the parties may be in a position to close the transaction as early as the week of April 2, 2012, subject to satisfaction or waiver of the remaining closing conditions. There is no assurance that the closing conditions will be satisfied or that the proposed mergers will be consummated."
According to published news reports, attorneys general in New York, Pennsylvania, Ohio, Texas and California are considering filing suit to block the proposed Express Scripts-Medco merger in anticipation of an FTC approval. On Tuesday, the American Antitrust Institute and American Consumer Institute announced they will join antitrust attorney and former Federal Trade Commission policy director David Balto on Wednesday at 3 p.m. EST to issue a call to action to all other state attorneys general to join this effort and protect patients and consumers from rising prescription prices and decreased pharmacy services by opposing the merger.
Report confirms strong connection between customer experience, loyalty
NEW YORK — Customer experience is highly correlated to loyalty in both the United States and the United Kingdom, according to a new report by Temkin Group.
According to "The ROI of Customer Experience" study, a $1 billion U.S. company can generate between $141 million and $382 million over three years if it makes a modest improvement in the customer experience it delivers.
In the United States, where Temkin Group analyzed 18 industries, the largest gains from customer experience improvements were experienced by fast food chains, retailers and supermarket chains.
The research compared customer experience leaders — those companies that significantly outperform their industry peers — with customer experience laggards that have poor customer experience ratings. Companies that are customer experience leaders in both countries enjoy at least a 16 percentage-point advantage over customer experience laggards in key loyalty areas, such as the willingness of consumers to buy more products from them, the reluctance of consumers to switch business away from them and the likelihood of consumers to recommend them to friends and colleagues.
The report can be accessed from the Temkin Group website at Temkingroup.com.
Food Lion extends brand strategy to new markets
SALISBURY, N.C. — Food Lion has launched its new brand strategy in 268 stores in Virginia, West Virginia and North Carolina markets, the retailer announced Wednesday.
The brand strategy — which was first launched in the Raleigh, N.C., Fayetteville, N.C., and Chattanooga, Tenn., markets in May 2011 — is designed to offer customers lower prices on 6,000 items throughout the store and access to quality store-brand products at lower prices, including the company’s My Essentials value tier, as well as fresh produce and an easy and convenient shopping experience, Food Lion said.
In January, the company announced plans to accelerate the rollout of the strategy to an additional 600 to 700 stores by the end of 2012.
"We invite customers to visit their local Food Lion, where they will experience firsthand the enhancements we have made in our stores," Food Lion president Cathy Green Burns said. "As part of our new strategy, we are committed to being recognized as a price leader, making our stores easier to shop, offering the greatest value in store brands and providing fresh produce. We believe our new brand strategy enables us to better serve our customers in these markets."