PHARMACY

NACDS Foundation awards $230K in scholarships and grants

BY Brian Berk

SCOTTSDALE, Ariz. — The National Association of Chain Drug Stores Foundation awarded $230,000 in scholarships and grants through its 2017 NACDS Foundation Scholarship Program. The recipients were presented with their awards Monday night at an NACDS Foundation event during the NACDS Annual Meeting.

This year’s awardees were selected from more than 40 general and diversity scholarship applications submitted from deans of accredited colleges and schools of pharmacy across the country. Six grants were awarded to applicants for innovative education programs in the amount of $20,000 each, including two in the name of industry leaders: The Wayne Roberts Memorial Scholarship, provided by Apotex Corporation, and the Robert J. Bolger Scholarship, provided by Teva. Additionally, two one-time grants in the amount of $15,000 each were awarded for excellence in diversity programs.  

The awardees of the 2017 NACDS Foundation Scholarships for excellence in education are:

Duquesne University, Mylan School of Pharmacy will launch a study in an underserved area of Pittsburgh by providing patients with complimentary Hepatitis C virus screenings and education through a university-run outpatient facility. 

Nova Southeastern University College of Pharmacy will provide its pharmacy students with cutting-edge, practice-based experience through the college’s new “Adherence, Transitions of Care and Medication Therapy Management Center,” opened in 2016. 

Ohio Northern University Raabe College of Pharmacy will launch a two-year program which aims to screen 1,000 underserved patients in rural Ohio for Hepatitis C using a college-facilitated mobile health clinic. 

Ohio State University College of Pharmacy students will give refugees and new immigrants an understanding of the U.S. pharmacy/healthcare system by providing them with an introductory course on pharmacy services. 

Union University School of Pharmacy will launch a study evaluating educational intervention techniques in diabetes care for African American patients at risk for diabetes-related health issues in West Tennessee. 

University of Colorado, Skaggs School of Pharmacy and Pharmaceutical Sciences will expand its program which requires each of its students to travel and live for six weeks in a rural pharmacy location working with inter-professional healthcare teams. 

Awardees of the 2017 NACDS Foundation Scholarships for excellence in diversity programs:

The University of Texas at Austin College of Pharmacy will work with partner institutions, including two historically black colleges, to select 15 students to attend a one week program designed to expose them to pharmacy school and the profession. 

University of New Mexico College of Pharmacy will select 15 racially and ethnically diverse students who have the passion and aptitude for healthcare for a three-week long “Pharmacy Readiness Bootcamp” designed to maximize their likelihood of academic success in the PharmD curriculum. 

The NACDS Foundation also awarded $2,000 scholarships to each of the colleges and schools of pharmacy whose deans were in attendance at the event. 

“We are extremely grateful for the support of our benefactors. Their generosity and engagement are what make the NACDS Foundation Scholarship Program possible,” said NACDS Foundation President Kathleen Jaeger. “The ongoing commitment of our benefactors to advance public health by supporting innovative educational programs in patient care is exemplary. Their contributions are what will fuel and inspire the next generation of leaders in community pharmacy.” 

The NACDS Foundation Scholarship Program began in 1997. Since then, nearly $4 million in scholarships has been provided for pharmacy education thanks to the generous support of the program’s benefactors.  

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Sears Holdings to close 92 ‘underperforming’ Kmart pharmacies

BY Brian Berk

HOFFMAN STATES, Ill. — Sears Holdings will close 92 “underperforming” Kmart pharmacies, as part of its corporate restructuring program, the company announced.

"Earlier this year, we initiated a strategic restructuring program and committed to improving our operating performance and financial flexibility in a very challenging retail environment," said Edward S. Lampert, chairman and CEO of Sears Holdings. "While we have made significant progress in reducing our cost base and enhancing our member value proposition, we need to take further action. Accordingly, we will increase our structural cost savings target by $250 million on an annualized basis and accelerate our efforts to maximize value from our real estate portfolio, which we believe will improve our financial flexibility as we pursue our strategic transformation."

According to Sears, thus far it has realized $700 million in annualized cost savings already actioned to date.

Further steps the company is taking include simplification of the organizational structure of Sears Holdings through consolidation of the leadership of retail operations for Sears and Kmart and elimination of certain senior management roles; and a comprehensive review of the Company's value chain to identify broader opportunities for competitively priced products and drive operational efficiencies.

"Consistent with our ongoing strategy of focusing on our best stores, best categories and best members, we will continue to take difficult yet necessary actions. As we sharpen our focus on profitable areas of our business, we will also continue to closely evaluate the longer-term viability of stores where a clear path to return to profitability is not in sight. We are determined to take all necessary actions to improve the performance of Sears Holdings and will leverage our lease optionality to reconfigure our stores and reduce capital obligations," said Lampert.

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Dr. Reddy’s intros Prometrium generic

BY David Salazar

HYDERABAD, India and PRINCETON, N.J. — Dr. Reddy’s Laboratories on Friday announced the U.S. launch of its generic of AbbVie’s Prometrium (progesterone) capsules.

The Dr. Reddy’s progesterone capsules — recently approved by the Food and Drug Administration — will be available in 100- and 200-mg dosage strengths. According to QuintilesIMS data, brand and generic sales for the product had U.S. moving annual total sales of $153 million for the 12 months ended February 2017.

The capsules will be available in 100-count bottles.

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