Category Archives: Wholesale Pharmacy

Target Corporation (TGT), the operator of general merchandise and food discount stores in the United States, posted its second-quarter 2012 results on August 15. Here we will discuss the companys scorecard, based on the recent earnings announcement, subsequent estimate revisions by analysts as well as the Zacks Rank and long-term recommendation for the stock. Last Quarter Synopsis Minneapolis, Minnesota-based company, Target, posted better-than-expected second quarter results on the backs of healthy sales. Lower shares outstanding also provided cushion to the bottom line. The company delivered quarterly earnings of $1.06 per share that rose 3.4% from $1.03 earned in the prior-year quarter, and also came ahead of the Zacks Consensus Estimate of $1.01. However, excluding costs related to Canadian operations, earnings from its U.S. operations came in at $1.12 per share, up 4.6% from $1.07 posted in the year-ago quarter. The quarterly earnings fit in with the companys previous projection of $1.04 to $1.14 per share. Total revenue climbed 3.3% to $16,779 million from the prior-year quarter, and beat the Zacks Consensus Estimate of $16,769 million. Retail sales grew 3.5% to $16,451 million as shoppers are gradually opening up their wallets but still remain wary. The company indicated that revenue from … Continue reading →

They are the staples of most dermatology practices: generic creams and ointments that treat everything from skin rashes to athletes foot to scabies. Many doctors prescribe the drugs without a second thought. But increasingly, some dermatologists say, patients are complaining about a recent, mysterious and rapid rise in price. Take betamethasone dipropionate, a cream used to relieve itchy skin. In 2008, a tube cost $18.17. The medicine now costs $71.28, according to Red Book, which tracks wholesale drug prices. Permethrin cream, which kills scabies mites, cost $29.25 in 2008 but has jumped to $71.08 today. The hefty price increases have stumped doctors and their patients. It seems to me that something is going on, but I dont have quantitative details, said Dr. Steven R. Feldman, a professor of dermatology at Wake Forest Baptist Medical Center in Winston-Salem, N.C. I wouldnt have thought that these old-timey, generic drugs would be very costly. The added revenue from the higher prices has improved the bottom lines of the handful of companies that make such drugs, and has even figured into a contested buyout of one of the companies by an India-based drug maker, Sun Pharmaceuticals. The phenomenon offers a window into the murky … Continue reading →

For years, Dale Horton and his family bought most of their prescription drugs at their nearby Shoppers Drug Mart, with the costs covered largely by his employers benefit plan. But last year, his family switched to another pharmacy, at Costco Wholesale Canada, after his employer teamed up with the discounter. A Costco store isnt as close to his home as Shoppers, but Mr. Horton, an inventory specialist at Toromont Industries Ltd., prefers the trek to spending an extra $200 a year at Shoppers. Its not that I dislike them ... But if I can save myself some money and Im not inconveniencing myself too much, why wouldnt I do that? For its part, Toromont is shaving hundreds of thousands of dollars from its once-soaring bill to cover the annual prescription drug benefits for its 3,000 employees, partly by partnering with Costco, said David Wetherald, its vice-president of human resources. In the past 18 months, Costcos prescription sales among Toromonts work force have jumped tenfold, at the expense of other drugstores, no doubt in part because employees dont have to pay the regular $9 deductible per prescription. Thats coming out of somebody elses pocket, Mr. Wetherald said. The pockets in question … Continue reading →

SPARTANBURG, S.C. -- 310 Billion dollars. That's how much Americans spend in just one year on prescription drugs. But Chelsey Tillotson has found a way to cut her costs by as much as 150%. "I paid over 200 for my prescription every 2 weeks, and here I only pay 48 for the same prescription," said Tillotson. She's talking about the pharmacies at wholesale retailers like Sam's Club. "Cash prices are hands down cheaper than retail stores," said Pharmacist Laura Rillman. And even clients who have health insurance like Chrystal Knighton can see a difference in co-pay. "With the insurance it was still going to be $40. And now it's $8." she said. Now, you might assume you need a membership to get these wholesale prices, but Sam's club says when it comes to the pharmacy, anyone can shop here. But wholesale retailers aren't the only way to save. Websites like GoodRx have a searchable database where you can find the lowest price for the drug you need. And NeedyMeds.org has a link to programs that offer free or reduced priced drugs. Continued here: Ways To Save On Rx Drugs … Continue reading →

___ Bank scandals tarnish London's reputation LONDON (AP) -- It's been a tense summer in the City of London as one bank after another has faced allegations of massive misbehavior. Bankers in the British capital, which has for centuries been a center for global business, fear its reputation has been tarnished indelibly and that a heavy-handed regulatory crackdown is looming. First came U.K. bank Barclays. Its chief executive, Bob Diamond, was forced to step down last month after U.S. and British authorities fined the bank $453 million for manipulating a key market interest rate. Other banks are being investigated for their part in the scandal. Then there was HSBC, another big London-based bank. It faces fines of up to $1 billion after the U.S. Senate issued a damming report last month alleging it had failed to stop the laundering of Mexican drug money. Back in May, JPMorgan Chase & Co. disclosed a surprise $2 billion trading loss later upgraded to $5.8 billion racked up by its London office in a portfolio designed to hedge against risks the company takes with its own money. ___ S&P closes over 1,400 for first time in 3 months NEW YORK (AP) -- It was … Continue reading →

By PABLO GORONDI Associated Press The price of oil edged higher above $92 a barrel Tuesday as analysts estimated that supplies of U.S. crude and gasoline likely fell last week. By early afternoon in Europe, benchmark crude was up 33 cents at $92.56 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 80 cents on Monday to settle at $92.20 in New York. In London, Brent crude was up 92 cents at $110.47 on the ICE Futures exchange. The American Petroleum Institute is scheduled to announce its weekly crude and oil products supply data later Tuesday. Analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., predict crude inventories fell 300,000 barrels while gasoline stocks dropped 2 million barrels, signs that energy demand may be improving. The Energy Department's Energy Information Administration reports its weekly supply data - the market benchmark - on Wednesday. After jumping from below $78 in June, crude has hovered near $90 for the last few weeks as investors weigh weak global economic growth against possible monetary and fiscal stimulus measures. "We're stuck once again in a range," Carl Larry of Oil Outlooks and Opinions said in a report. "It … Continue reading →

DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreen Co. (WAG) (WAG), the largest drug store chain in the U.S., and Alliance Boots, a leading international pharmacy-led health and beauty group, announced the completion today of Walgreens initial investment in the strategic partnership to create the first global pharmacy-led, health and wellbeing enterprise. This follows receipt of all required regulatory approvals. The Walgreens investment consists of approximately $4.0 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots*. Walgreens has the option to proceed to a full combination in approximately three years time by acquiring the remaining 55% of Alliance Boots*. As a result of the transaction, Alliance Sant Participations S.A. (of which Stefano Pessina, Executive Chairman, Alliance Boots, is a director and whose ultimate ownership is a family trust) becomes the largest shareholder of Walgreens, with a stake it intends to hold for the long term. Stefano Pessina and Dominic Murphy, Member of the general partner of KKR & Co. L.P., have today joined the Walgreens Board of Directors. At the same time, Gregory Wasson, President and Chief Executive Officer of Walgreens, Wade Miquelon, Executive Vice President and Chief Financial Officer, Thomas Sabatino, … Continue reading →

MALAYSIA'S leading healthcare provider BP Healthcare Group has rebooted its pharmacy operations to grow it into a core revenue earner with expansion into online sales and more value-added services to increase customer traffic and generate new business. The well-diversified group has two pharmacy enterprises, the first being wholesale BP Pharmacy established in 1995 and the Lovy Pharmacy retail chain launched in February this year that differentiates itself as a modern healthcare partner instead of a typical drug store. "Lovy Pharmacy and BP Pharmacy will be turned into core businesses for the group. There is immense potential for growth and the timing is right because consumers are more health-conscious and with their busier lifestyles these days, they want to enjoy more convenience," said BP Group deputy chairman Chevy Beh, who is also group finance and investment director. Lovy Pharmacy is the first in Malaysia to provide customers with free consultations with pharmacist via Webcam. It has many other value-added services such as total wellness programmes, medical check-ups, travel health services, home deliveries, drive-through outlets and medication reminder services. BP Healthcare has embarked on an aggressive expansion for Lovy Pharmacy by upgrading its existing dispensaries into full-scale pharmacies and recruiting more pharmacists … Continue reading →

In crucial deal for AmerisourceBergen, Inc., the Valley Forge-based drug wholesaler said it won a three-year contract worth approximately $18.5 billion per year in revenue in exchange for supplying pharmaceutical products to Express Scripts. We are honored that Express Scripts has chosen AmerisourceBergen to supply the brand pharmaceuticals it needs for its recently combined mail order and specialty pharmacy business, Steven H. Collis, AmerisourceBergen president and chief executive officer, said in a statement. This was important for Collis and AmerisourceBergen's 13,000 employees - including 1,100 in three local facilities - because the revenue essentially replaces that which came from Medco Health Solutions. Losing 19 percent of revenue would hurt any company and perhaps prompt layoffs. Medco was bought out by Express Scripts, making it the largest mail-order drug company and the largest pharmacy benefits manager, sometimes referred to in the industry at PBMs. PBMs are paid by companies to manage the drug portion of employer-sponsored health insurance programs. With the acquisition of Medco completed, St. Louis-based Express Scripts requested proposals from the three largest wholesale drug companies: McKesson, Cardinal Health and AmerisourceBergen. Though 29th on the Fortune 500 list with $80 billion in revenue, AmerisourceBergen is the smallest of the … Continue reading →

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Humana Inc. (HUM) today reported diluted earnings per common share (EPS) for the quarter ended June 30, 2012 (2Q12) of $2.16, compared to $2.71 per share for the quarter ended June 30, 2011 (2Q11). For the six months ended June 30, 2012 (1H12) the company reported $3.65 in EPS compared to $4.57 for the six months ended June 30, 2011 (1H11). Results for 2Q12 and 1H12 included $0.18 per share in expenses related to the previously-disclosed settlement of a litigation matter. Prior-year favorable medical claims reserve development for 2Q12 of $0.15 per share compared to $0.12 per share in 2Q11. Results for 1H12 and 1H11 included $0.18 per share and $0.44 per share, respectively, of prior-year favorable medical claims reserve development. The company lowered EPS guidance for the year ending December 31, 2012 (FY12) to a range of $6.90 to $7.10 versus its previous estimate of $7.38 to $7.58. This reduction in FY12 EPS guidance primarily reflects higher-than-previously expected individual Medicare Advantage benefit ratios associated with new members and increased utilization for both new and existing members. "Our companys strategy is sound, though we are disappointed by the need to lower our full-year earnings guidance," said Michael … Continue reading →