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Walgreens says “Aloha” to Hawaii

BY Allison Cerra

HONOLULU Walgreens opened its first Hawaii store on Thursday with a traditional Hawaiian blessing.

The new store, a former Tower Records site, is the first of four Hawaii stores Walgreens plans to open in the next year. The nation’s largest drug store chain plans eventually to open as many as 30 stores in Hawaii.

The chain intends to place stores in Kalihi and Kaneohe on Oahu, and in Lahaina on Maui.

The 9,000-square-foot store, which will be open 24 hours a day, is smaller than typical Walgreens stores. The other stores planned on Oahu and Maui will be new constructions.

“More than 100 years ago our founder, Charles Walgreen Sr., would remind his customers, ‘You’re always welcome at Walgreens,’” Dana Psomas, Walgreens district manager for Hawaii, said in a statement. “Today, as we open our doors in Hawaii for the first time, we’re adapting that saying to, ‘E komo mai.’”

Clark Fujihara, Walgreen’s district pharmacy supervisor for Hawaii, emphasized the importance of having Walgreens present in the state, citing the ever-increasing demand for pharmacy services, and stated that services that are not currently offered in the state will be, such as drive-through pharmacies.

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CVS records impressive rise in Q3 earnings

BY Antoinette Alexander

WOONSOCKET, R.I. CVS Caremark announced on Thursday that third quarter earnings rose 142.6 percent as revenues totaled $20.5 billion.

Net earnings for the third quarter ended Sept. 29 totaled $689.5 million, or 45 cents per diluted share, compared with earnings of $248.2 million, or 33 cents per share, in the year-ago period. The company estimates that merger and integration costs associated with Caremark negatively impacted diluted earnings per share by about 1 cent for the quarter.

Revenues increased $9.3 billion to $20.5 billion, up from $11.2 billion in the year-ago period. Same-store sales rose 5 percent, while pharmacy same-store sales climbed up 4.3 percent. Pharmacy same-store sales were negatively impacted by about 580 basis points due to recent generic introductions. Same-store front-end sales rose 6.5 percent.

During the quarter, CVS opened 37 new stores, closed eight locations and one mail order pharmacy and relocated 41 others. As of Sept. 29, the company operated 6,206 retail pharmacy stores, 53 specialty stores, 22 specialty mail order pharmacies and nine mail order pharmacies.

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Aizen named VP of sales for Rite Aid Health Solutions

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid on Thursday named Lance Aizen, a pharmaceutical and pharmacy benefit management executive, to the post of vice president of sales of Rite Aid Health Solutions, Rite Aid’s pharmacy benefit management company.

Aizen, 44, is responsible for all sales activity for Rite Aid Health Solutions and reports to Greg Drew, vice president and general manager of Rite Aid Health Solutions.

“We’re fortunate to have an experienced pharmacy benefit management executive of Lance’s caliber join our team and help us continue to grow Rite Aid Health Solutions,” Drew said. “Lance’s proven ability in negotiation and business development as well as his strong leadership skills in pharmacy benefit management will be a great asset.”

Aizen previously served as executive vice president of Envision Pharmaceutical Services, another PBM. Prior to Envision, Aizen was chief operating officer at the PBM SunRx.

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