News

Retail Pharmacy

CVS Health To Close 900 US Stores Over Next Three Years

Kimberly Redmond | Equities.com |

CVS Health will close about 900 US stores over the next three years as part of a larger shift away from retail and toward healthcare services.

On Thursday, the Woonsocket, Rhode Island-based drugstore chain said its decision — which will ultimately impact 9% of its 10,000 stores nationwide — comes after “evaluating changes in population, consumer buying patterns and future health needs.”


Walgreens Investing Additional $5.2 Billion in Primary Care Provider VillageMD

Kimberly Redmond | Equities.com |

Walgreens Boots Alliance Inc (Nasdaq: WBA) will invest $5.2 billion in primary care provider VillageMD as part of the pharmacy chain’s plan to open more co-located practices within its drugstores across the US.

The investment announced Thursday increases the Deerfield, Illinois-based chain’s stake in VillageMD to 63% from the 30% it acquired in July 2020.


CVS Health To Hire 25,000 in Virtual Career Event Friday September 24

Kimberly Redmond | Equities.com |

CVS Health Corporation (NYSE: CVS) plans to fill as many as 25,000 clinical and retail jobs nationwide ahead of the flu season and as the US prepares to roll out COVID-19 booster shots.

On Monday, the largest pharmacy chain by number of stores said that most of the openings are for temporary, full-time and part-time licensed pharmacists, trained pharmacy technicians, nurses and retail workers.


Walmart To Offer Own Line of Insulin at Lower Cost Than Branded Versions

Kimberly Redmond | Equities.com |

Walmart Inc announced Tuesday it will begin offering private-label insulin this summer at a much lower price than branded versions of the life-saving diabetes drug.

The retailer said it is teaming up with Novo Nordisk A/S to sell an exclusive version of analog insulin through Walmart’s private ReliOn brand as part of a push to expand its health offerings.


Rapid OTC COVID-19 Tests To Be Available This Week at Three National Pharmacy Chains

Kimberly Redmond | Equities.com |

Over-the-counter rapid COVID-19 tests will soon hit the shelves at three national pharmacy chains, expanding access to home testing as the US ramps up its vaccine rollout.

Abbott Laboratories (NYSE: ABT) announced Monday that it began shipping its BinaxNOW self-test to CVS Pharmacy, Walgreens and Walmart stores across the country. The test will also be available through the chains' websites.


Uber Partners With ScriptDrop To Expand Prescription Drug Delivery Service

Kimberly Redmond | Equities.com |

Uber Technologies is partnering with e-prescription startup Scriptdrop in a deal to expand the ride-share platform’s prescription drug delivery service from a handful of cities to dozens of US states.

Under the partnership announced Wednesday, Uber’s hundreds of thousands of drivers will be accessible to pharmacies using ScriptDrop. In exchange, ScriptDrop, a third-party tech platform that connects patients and pharmacies with couriers, will pay Uber for the cost of each delivery.


CVS Health Beats Estimates, Says It Will Reenter Obamacare Market in 2022

Reuters | Equities.com |

CVS Health Corp said on Tuesday it would return to selling individual health insurance plans that offer Affordable Care Act premium subsidies next year, saying the market had stabilized.

The move by CVS comes a week after President Joe Biden’s administration told the U.S. Supreme Court that the Affordable Care Act, or Obamacare healthcare law, should be upheld.


White House To Send Millions of COVID-19 Vaccine Doses Directly to Pharmacies

Reuters | Equities.com |

The White House next week will start shipping coronavirus vaccines directly to retail pharmacies alongside ongoing deliveries to states, increasing weekly supplies of shots nationwide to 11.5 million, a top aide said on Tuesday.

U.S. President Joe Biden’s COVID-19 response coordinator, Jeff Zients, said the program will launch on Feb. 11 and will make 1 million doses available to 6,500 stores. As supply grows, the program could expand to as many as 40,000 stores, he said.


Walgreens Boots Alliance Reiterates Full Year Earnings Growth Forecast

Reuters | Equities.com |

Walgreens Boots Alliance Inc said on Thursday it expects benefits from COVID-19 vaccinations to cushion the impact of pandemic-induced restrictions, and stuck to its full-year earnings growth forecast, sending its shares up 7%.

The drugstore chain has taken a number of steps to bolster profit after the health crisis hammered sales and forced it to cut jobs, shut some UK-based Boots stores and sell its distribution unit to AmerisourceBergen Corp for $6.5 billion.

Rival CVS Health Corp and Walgreens have an agreement with the federal government to vaccinate nursing home residents across the United States through a voluntary program.


Department of Justice Sues Walmart, Accusing Retailer of Fueling the Opioid Crisis

Reuters | Equities.com |

The U.S. Justice Department sued Walmart Inc on Tuesday, accusing the retailer of fueling the opioid crisis in the United States, ignoring warning signs from its pharmacists and filling thousands of invalid prescriptions.

In a civil lawsuit filed in U.S. District Court in Delaware, the department accused Walmart of failing to take its gatekeeping duties as a pharmacy seriously.

Walmart, the world’s biggest retailer, created a system that turned its 5,000 in-store pharmacies into a supplier of highly addictive painkillers, dating as early as June 2013, the lawsuit said.


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