PHARMACY

Walgreens, CVS/pharmacy named among ‘most valuable brands’ in America

BY Allison Cerra

DAYTON, Ohio A global branding consultancy firm released its “most valuable brands” report last week, naming two of the nation’s largest drug store chains among the best.

Interbrand said Walgreens and CVS/pharmacy ranked fifth and sixth, respectively, among 50 companies selected. Each company must be a market-facing brand, operate significant distribution channels in the United States, with publicly-available financial data, Interbrand said.

In related news, discount retailer Dollar General also joined the ranks, landing the No. 18 spot. Interbrand said it was new to the list after becoming a public company last year.

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PHARMACY

Walgreens to acquire pharmacy business, other assets from Memphis USA Drug stores

BY Allison Cerra

DEERFIELD, Ill. Walgreens reached an agreement with USA Drug to acquire the prescription files and other assets of 17 Ike’s and Super D drug stores in the Memphis area.

Walgreens will purchase the prescription files at each of the 17 locations and transfer them to nearby Walgreens pharmacies. Patients whose prescriptions are being transferred will be notified by letter once the transaction has been completed later this month.

In related news, Walgreens currently is in negotiations with USA Drug to acquire two Ike’s drug stores. Walgreens said it would most likely staff most of the store positions with the existing employees.

The acquisition is subject to certain customary terms and conditions. Financial terms of the transaction were not disclosed.

“We have a long history of providing high quality pharmacy services in the Memphis area with our first store in the city opening in 1927,” said Walgreens market VP Connie Latta. “Our staffs are ready to make the transition as seamless as possible for our new customers. We look forward to introducing them to the unique offerings that have made Walgreens one of the country’s most trusted providers of health and wellness services and basic needs.”

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PHARMACY

PhRMA names new chairman

BY Alaric DeArment

WASHINGTON The Pharmaceutical Research and Manufacturers of America elected Pfizer president and CEO Jeffrey Kindler as its board chairman Thursday at the trade organization’s annual meeting in Washington.

PhRMA also elected Sanofi-Aventis CEO Christopher Viehbacher as chairmen-elect of the board of directors and Eli Lilly & Co. president, CEO and chairman John Lechleiter as board treasurer. Kindler succeeds AstraZeneca executive director and CEO David Brennan as chairman.

“Great leadership requires patients, decisiveness, intelligence, execution and compassion,” PhRMA president and CEO Billy Tauzin said. “David encompasses all of these qualities and much more.”

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