WALMART

MINNETONKA, Minn. — Could the economy and the bare-knuckles competition that now defines pharmacy retailing lower the price bar even further for widely used generic drugs? It’s already happening.


BENTONVILLE, Ark. — As Walmart’s U.S. stores division looks to execute a broad slate of initiatives in the coming year to recharge domestic growth, it does so under the leadership of a new chief executive and a restructured merchandising organization.


WOONSOCKET, R.I. — CVS Caremark announced on Friday that former Walmart North executive Hank Mullany will succeed Larry Merlo as president of CVS/pharmacy. The move is part of the corporate succession plan announced last May in which Tom Ryan will retire as CEO prior to the next annual meeting and Merlo will step up as CEO.

CINCINNATI — A consumer products giant and a big-box retailer are looking to connect deployed members of the U.S. military with their families during the holiday season, with help from the United Service Organizations.

MINNETONKA, Minn. — UnitedHealth Group will start a program next year that it said can reduce drug costs to as low as $2 per script, the company said Tuesday.

The program, Pharmacy Saver, will be available to Medicare Part D members and is a collaboration with Kroger, Safeway and Prescription Solutions. The program will allow members to purchase some scripts for $2 for 30- and some 90-day supplies and applies to hundreds of prescription drugs, including 8-of-the-10 most commonly used by UnitedHealthcare Medicare plan members.

ROGERS, Ark. Former Walmart executive Jack Shewmaker passed away Wednesday evening. He was 72.

Shewmaker began his career at Walmart in 1970 and rose steadily through the ranks of the company, serving in numerous capacities, including district manager; VP security (now known as loss prevention); VP store operations; EVP store operations, personnel and merchandise; CFO; and president and COO. Shewmaker retired from the company in1988, but continued as a member of Walmart’s board of directors.

BENTONVILLE, Ark. Weak sales trends continued at Walmart’s U.S. stores division during the third quarter as same-store sales declined 1.3%; however, the company managed to meet analysts’ third-quarter earnings per share target of 90 cents.

Inclusion of a five cents a share tax benefit resulted in third-quarter earnings per share of 95 cents and caused the company to raise the full-year profit forecast to a range of $4.08 to $4.12 from $3.95 to $4.05.

LOUISVILLE, Ky. — Humana and Wal-Mart Stores on Monday announced that Mary Lee Reinscheld became the first Medicare beneficiary to sign up for the new Humana Walmart-Preferred Rx Plan at one of the Humana informational kiosks available in approximately 3,000 Walmart stores nationwide.

Reinscheld signed her Humana application at Walmart store No. 1170 here as the annual enrollment period for Medicare beneficiaries, including seniors and people with disabilities, got under way.