Medco’s Q4, fiscal-year sales rise
FRANKLIN LAKES, N.J. — Sales at Medco Health Solutions increased to $16.9 billion during fourth quarter 2010 and to $66 billion for the fiscal year as a whole, representing respective 11.1% and 10.3% increases over the same periods the year before, the pharmacy benefit manager said Tuesday.
Profits for the quarter were $378.5 million, a 10.8% increase over fourth quarter 2009, while profits for the year were $1.4 billion, an 11.5% increase over fiscal year 2009.
Specialty pharmacy sales for the quarter were nearly $3 billion and were more than $11.3 billion for the year, representing respective increases of 21.3% and 19.1% over the year before. The generic dispensing rate increased by 3.9% to 72.2% for the quarter, while increasing by 3.5% to 71% for the year as a whole.
Rite Aid expands free Rx delivery
CAMP HILL, Pa. — Rite Aid has expanded its free prescription delivery service to more than 400 stores in the New York metropolitan area, the retail pharmacy chain announced Monday.
The service allows patients to receive their medications between 10 a.m. and 7 p.m., though they must wait until the next day if they send their prescriptions after 11 a.m., and some limitations apply, such as for medications that require refrigeration.
“At Rite Aid, we understand that our customers’ time is valuable and that they are looking for convenient services that make their life easier,” Rite Aid EVP pharmacy Robert Thompson said. “Our free prescription delivery service makes it easier than ever for our customers in the New York metro area to get the medicine they need when and where they need it. It also helps ensure that they take their medication as prescribed, which helps to improve their overall health and well-being.”
GPhA announces executive committee, board of directors
ORLANDO, Fla. — The Generic Pharmaceutical Association has elected its 2011 executive committee and board of directors, the generic drug industry trade group announced. As part of a reorganization last year, the board has been reduced to 12 members.
The GPhA said Watson Pharmaceuticals president and CEO Paul Bisaro had been reelected as chairman for a second, one-year term. Also elected were Mylan Pharmaceuticals president Tony Mauro, as vice chairman; and Momenta Pharmaceuticals president Craig Wheeler, as secretary treasurer.
Other members of the board of directors are Teva Pharmaceuticals USA SVP government affairs Debra Barrett; Actavis president and CEO Doug Boothe; Ranbaxy VP corporate communications and government affairs Chuck Caprariello; Sandoz president and CEO Don DeGolyer; Fougera SVP and general manager David Klaum; Par Pharmaceutical president and CEO Patrick LePore; Ben Venue Labs president and CEO Tom Murphy; Zydus Pharmaceuticals USA president and CEO Joseph Renner; APP Pharmaceuticals president and CEO Tom Silberg.
The GPhA’s executive committee is comprised of Bisaro, Mauro, Wheeler, Barrett, Boothe, DeGolyer and Klaum.
“We enter 2011 as a stronger organization, with renewed vigor, a sharper focus and an appreciation of the power that a single, unified voice can have,” Bisaro said. “Equally as important, we start 2011 with the resources — financial, intellectual and structural — to get the job done.”