PHARMACY

Sagent to issue IPO

BY Alaric DeArment

SCHAUMBURG, Ill. — Sagent Pharmaceuticals has increased the number of shares it’s issuing in its initial public offering on the Nasdaq, the drug maker said Wednesday.

Originally planning to offer 5 million shares, the company has increased that number to 5.75 million shares at $16 per share.

The underwriters have a 30-day option to purchase up to an additional 862,500 shares at the IPO price. The offering is expected to close next Tuesday.

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PHARMACY

Report: CVS/pharmacy logo creator dies at 86

BY Antoinette Alexander

BOCA RATON, Fla. — Joseph Selame, who designed a wide range of well-known logos and brand identities for dozens of nonprofit organizations and companies, including CVS/pharmacy, died on March 29 in Boca Raton, Fla. He was 86.

According to a New York Times article, Selame not only created graphic designs but also oversaw total brand integration. For example, he helped rename the pharmacy retailer — transforming Consumer Value Stores into CVS/pharmacy. The retailer’s logo, which includes the letters CVS and the word pharmacy, separated by a slash mark, has become one of the most familiar in the country.

He also created a logo for supermarket chain Stop & Shop.

Selame founded Selame Design in 1960 with his wife, Elinor, who was in charge of marketing and communications strategies. She died in 2008 at 77, the New York Times reported. The firm was renamed BrandEquity in 1995.

Selame, who was born in Brooklyn in 1925, was trained in graphic design by the Army during World War II. He was known for his approach, which was rooted in simplification.

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John Coster joins NCPA, heads up new advocacy center

BY Michael Johnsen

ALEXANDRIA, Va. — The National Community Pharmacists Association on Wednesday named longtime industry veteran John Coster as SVP government affairs and head of the association’s newly created NCPA Advocacy Center.

The NCPA Advocacy Center will unite the association’s government affairs, grassroots, pharmacy benefit manager transparency, professional affairs and public affairs programs to enhance NCPA advocacy efforts and ensure that they have the maximum impact possible.

“We’re excited about the synergy NCPA’s Advocacy Center will provide on behalf of community pharmacists and their patients,” stated NCPA president Robert Greenwood. “Community pharmacists are well-positioned to play an even greater role in America’s healthcare system through expert medication counseling, improving patient medication adherence and other cost-saving services. I look forward to seeing this team successfully take that case to policymakers, private and public sector health plans, pharmacy stakeholders and patients.”

“As a pharmacist, Capitol Hill veteran and proven advocate for pharmacies and patients, John Coster is ideally suited to lead both this effort and NCPA’s government affairs department,” NCPA EVP and CEO Douglas Hoey said. “From implementation of the healthcare law to state budget shortfalls, there is no shortage of challenges facing community pharmacy. But NCPA members and partners can rest assured that the interests of neighborhood pharmacists and their patients are well-represented by John and the entire Advocacy Center team.”

Coster most recently was in charge of government affairs for the Generic Pharmaceutical Association and previously served as NCPA’s SVP government affairs during enactment of the landmark 2010 Affordable Care Act. Coster also has served as Rite Aid’s VP federal affairs and public policy and was VP policy and programs for the National Association of Chain Drug Stores. He has worked for former Sen. David Pryor, D-Ark., on the staff of the U.S. Senate Special Committee on Aging.

Coster received his bachelor of science in pharmacy from St. John’s University in New York and has a Masters and Ph.D. in policy sciences with a concentration in health from the University of Maryland Graduate School. He has worked in a community pharmacy and is a licensed pharmacist in New York, Maryland and Virginia.

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