Navarro’s wholesale, export subsidiary expands
MIAMI — Navarro Discount Pharmacies announced that its wholesale and export subsidiary, Magellan Distribution Solutions, has acquired the assets of Buxco Inc. and will be providing fulfillment solution services for the network of 150 independently owned retail pharmacies.
"Growing our wholesale and export business through Magellan is part of Navarro’s three-year expansion plan," stated Steve Kaczynski, CEO of Navarro Discount Pharmacies, which operates 28 stores in the Miami area.
Acting as distributors for Navarro’s signature products, including cosmetics, fragrances and appliances, Magellan’s focus is to identify new business opportunities with local retailers and help them grow their sales, lower cost of goods and reduce expenses.
Magellan provides more than 30,000 SKUs and signature categories, including cosmetics, fragrances, OTC/HBC, general merchandise, appliances and hair care, for independent retailers located in Miami-Dade and Broward counties, as well as in the Caribbean and Latin America.
Magellan is a new wholesale operation from Navarro that launched in January. This acquisition is the company’s first activity, the company said. Kevin Shiplett, who joined Navarro in October 2010 as the retailer’s SVP wholesale and business development, is leading Magellan’s efforts. Shiplett’s focus is to identify new business opportunities with local retailers to act as distributors for Navarro’s signature products.
"As a wholesaler, Magellan will leverage its knowledge in the health-and-wellness supply chain by creating Hispanic and emerging markets category offerings not currently provided by local suppliers," Shiplett said.
FDA approves Hospira’s generic Hycamtin
LAKE FOREST, Ill. — The Food and Drug Administration has approved a generic cancer drug from Hospira.
The drug maker announced the approval of topotecan injection for treating small-cell lung cancer sensitive disease after first-line chemotherapy has failed.
The drug is a generic version of GlaxoSmithKline’s Hycamtin, which had sales of more than $140 million in 2010, according to Hospira.
NACDS reaches out to Sebelius about state Medicaid program expansion
ALEXANDRIA, Va. — Shortly after Health and Human Services secretary Kathleen Sebelius reached out to state governors about extending their Medicaid programs, the National Association of Chain Drug Stores sent a letter to Sebelius emphasizing the importance of expanding patient access to prescription drugs and pharmacy services to cut healthcare costs and improve patient outcomes.
“We have spoken with many governors and state Medicaid directors, and [we] share their concerns about the current economic climate and the pressure that the Medicaid program places on state budgets," the NACDS letter stated. "We have worked with states to put cost-effective best practices in place to control prescription drug costs, such as increasing generic utilization, expanding the use of e-prescribing and other technologies, and improving medication adherence as a means to reduce more costly medical interventions, such as doctor visits and hospital stays.”
Click here to view the full letter.