IRI forms strategic business agreement with Japan’s Intage
CHICAGO — IRI on Tuesday announced that it has formed a business agreement with Intage, a marketing research company in Japan.
Under this agreement, IRI clients gain access to Japanese retail point-of-sale data via the IRI Global Executive Market Reviews service. In turn, Intage is able to provide CPG and retail information and insights to their clients from all markets IRI serves worldwide.
“Our agreement with Intage underscores IRI’s ongoing commitment to providing globally oriented solutions and insights to our multi-national clients,” stated Andrew Appel, president and CEO, IRI. “Intage and IRI clients now have improved and rapid access to accurate, current and unbiased information on important international markets they can leverage to evaluate strategic growth opportunities, as well as analyze market dynamics and competitive activities.”
GEMs are customized reports based on the retail data IRI collects from grocery, drug and other available CPG retailers across multiple countries. GEM reports arm senior executives with a new level of detailed information with which they can make a wide range of business decisions around core strategies, such as product exports, partnerships, acquisition strategy, and long-term planning. With the Intage agreement in place, these executives can more speedily and easily secure key information about the following markets: Australia, France, Germany, Greece, Italy, Japan, the Netherlands, New Zealand, Puerto Rico, Spain, the United Kingdom and the United States.
GEM reports show various levels of product granularity available across 300-plus categories, depending on what is currently being tracked locally. IRI teams configure reports to client specifications and provide multiple sets of information, including value and volume sales, market share, average price, distribution, sales areas, channels and comprehensive market coverage.
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All-star lineup of industry leaders gather for annual Industry Issues Summit
NEW YORK — The 15th annual Industry Issues Summit, presented by The Drug Store News Group on Dec. 3, proved to be a powerful, all-star lineup as some of the top minds in pharmacy retailing gathered for a candid discussion of the top issues and trends impacting the industry. On top of that, brand-building genius and TV celebrity Daymond John of ABC’s “Shark Tank” delivered an exclusive lunchtime keynote.
The all-day event was held at Manhattan’s historic New York Athletic Club, which is located directly across the street from Central Park.
“The Industry Issues Summit is an important event because it brings together industry leadership to talk about significant trends, opportunities and challenges in the drug retail industry … in a productive, open environment,” said Wayne Bennett, publisher of The Drug Store News Group.
The Industry Issues Summit, which was moderated by Dan Mack, EVP strategic business development for the Swanson Group and managing director of the Mack Elevation Forum, featured a powerful panel of retailer executives including:
- Jason Reiser of Family Dollar
- Mary Kelly of Rexall
- Bill Bergin of Rite Aid
- Carmen Bauza of Walmart
- Robert Tompkins of Walgreens
- Judy Sansone of CVS Caremark
- Doug Stukenborg of Target
- Jill Turner-Mitchael of Sam’s Club
“What is getting in the way of deeper relationships on a higher level? What gets in the way in your business in terms of elevating the business, the relationships, the engagements?” asked Mack as he set the stage for panelists.
How do retailers and suppliers overcome a roadblock? It starts with sharing risk and build a trusting relationship.
During the high-energy discussion, participants also touched upon such topics as hidden assets within their organizations, new and unique insights that suppliers could bring to the table and how suppliers can best work with retailers and strengthen the trust.
Meanwhile, keynote speaker John of ABC’s “Shark Tank” shared with industry players his strategies for becoming a “shark.” In sharing his story on how he became a brand-building success, John outlined some key pointers he learned along his journey:
- Understand the “power of broke.” If you act like you’re broke, you get creative and remain creative;
- Do your homework;
- Love what you’re doing;
- Remember you are the brand; and
- Those who are successful keep swimming. As a shark, you must keep swimming.
Kicking off the day was the Health, Wellness and Technology panel discussion, which was moderated by Chris Dimos of McKesson. Panelists shared their insights on the rise of mobile apps and how they can help improve patient outcomes, drive patient engagement and close the loop between pharmacists, physicians and patients.
Retail panelists included:
- Robert Thompson of Rite Aid
- Jeff Brown of Walmart
- John Fegan of Winn-Dixie
- Craig Norman of H-E-B
- Will Abbott of CVS/pharmacy
Following the discussion on technology was the Diabetes Leadership Forum, moderated by Dave Wendland of Hamacher Resource Group. Panelists discussed such topics as diabetes prevention and programs implemented at retail to help patients manage their condition.
Retail panelists included:
- Tim Weippert of Thrifty White Pharmacy
- Michael Mastromonica of Costco
- Raymond McCall of Ahold USA
- Michael Wolf of Walgreens
- Debbie Hiller of Kerr Drug
- Chuck Wilson of Health Mart
- Leon Nevers of H-E-B Pharmacy
Sponsors of the event included Catalina, Pfizer Consumer Healthcare, Pacific World, Core Science Media, Pharmavite, GlaxoSmithKline, Similasan, WorkPlaceMedia, Hyland’s, Novartis, mscripts, SoloHealth, Pill Jogger, higi, Emdeon, Takeda, Novo Nordisk, BD, UltiMed, AccentHealth and Sundial Brands.
I must say, this was one of the best-ever events. An all-star line-up, terrific topics, and outstanding coordination. Hats off to the entire DSN team and to the participants and attendees at what has become a must-attend industry event!
CMS: Medicare Part D beneficiaries who hit ‘doughnut hole’ saved $8.9 billion in 2013 thanks to Affordable Care Act
WASHINGTON — Elderly and disabled people nationwide have saved almost $9 billion on prescription drugs thanks to the Patient Protection and Affordable Care Act, according to a new study by the Centers for Medicare and Medicaid Services.
The CMS said that the Patient Protection and Affordable Care Act helped Medicare Part D beneficiaries save $8.9 billion on their prescription drugs, and they will be able to use more of their Social Security benefit cost of living adjustment as they choose because the Medicare Part B premium will not increase in 2014 thanks to the healthcare reform laws provisions for keeping down growth in costs.
According to the agency, the savings were due to more than 7.3 million Medicare Part D beneficiaries saving an average of $1,209 per person after reaching the gap in coverage known as the "donut hole," when beneficiaries must pay out of pocket for their drugs, before catastrophic coverage kicks in. Under the healthcare law, anyone with a Medicare prescription drug plan who reaches the gap gets a $250 rebate, and next year, they will receive savings of about 53% on the cost of branded drugs and 28% on the cost of generic drugs. The savings will gradually increase until 2020, when the donut hole will be closed.
During the first 10 months of 2013, nearly 3.4 million people who reached the gap have saved $2.9 billion, or $866 per beneficiary. By contrast, during the same period last year, the savings were $1.8 billion, or $677 per beneficiary.
"Protecting seniors from the dreaded donut hole and high prescription drug costs is an important Affordable Care Act reform that Medicare beneficiaries have come to depend on," CMS administrator Marilyn Tavenner said. "Today’s data shows that the law is already helping millions of seniors save billions of dollars off their needed medications."
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