Category Archives: Wholesale Pharmacy

The settlement of a class action by Sigma Pharmaceutical shareholders has taken a $48 million chunk out of the company's full-year profits. The leading healthcare company, which makes and distributes prescription and over-the-counter drugs to pharmacies, reported a net profit of $18.7 million - 64 per cent less than it would have without the December settlement. The class action by retailers involved disclosures during the financial crisis, and forced Sigma to pay $57.5 million in settlement fees. Sigma said its result was affected by one-off costs, such as the settlement, as well as refrigeration issues at its Newcastle site. It also said changes to the Pharmaceutical Benefits Scheme had hit its bottom line, and would continue to be a challenge in 2013. Advertisement ''Sigma has delivered continued improvement on its key financial metrics against the backdrop of the toughest era of PBS reform in more than a generation,'' Sigma chief executive Mark Hooper said. The federal government last year moved to cut the amount it pays for 180 drugs listed under the PBS by at least 23 per cent. Sigma, which owns the Amcal chemist brand, delivers many of the generic drugs listed in the PBS. Changes to the scheme … Continue reading →

Lash Group completes integration with TheraCom for patient support services like patient access and adherence arograms, helping over 15 million patients in past two decades. Charlotte, NC (PRWEB) March 13, 2013 Going forward, clients of the two companies will leverage the combined service portfolio of market-leading patient access and adherence programs under the Lash Group brand. The TheraCom pharmacy will remain a separate entity under Lash Group to provide integrated pharmacy services and strategic wholesale solutions for Lash Groups clients. Whether Lash Groups customer needs are highly complex or require a more streamlined, automated approach, this enhanced set of patient support services will address the industrys growing demands for such services, especially in light of healthcare reform and other pressures that are driving complexity and rapid change. There is an increased need for access and adherence services due to the continued evolution of the healthcare landscape, said Tracy Foster, President, Lash Group. We are developing and adapting these services according to Lash Group's strategic approach to program design, our Patients First service philosophy, and our commitment to innovation, technological advancement and accountability for performance. Our newly-aligned organization provides our customers an expanded set of core competencies and integrated services designed … Continue reading →

BANGOR, Maine The Dixmont couple who faced numerous charges stemming from the robbery of a Rite Aid pharmacy in Newport twice last fall pleaded guilty in U.S. District Court on Tuesday afternoon. Jonah Masse, 26, of Dixmont pleaded guilty to two counts of pharmacy robbery and Sydney Duff, 21, a Canadian citizen living in Dixmont, pleaded guilty to aiding and abetting both robberies, according to U.S. Attorney Thomas E. Delahanty II. According to court records, Masse entered the Rite Aid pharmacy on Aug. 16, 2012, and Sept. 16, 2012, and each time handed the pharmacist a note stating he had a gun and wanted oxycodone and hydromorphone pills. He obtained more than $500 worth of drugs during each robbery. The estimated wholesale cost of the drugs was more than $1,500, but Newport police said in September their street value was about $6,000. Duff, who had been living with Masse at his parents home in Dixmont, wrote the demand notes and drove Masse to the pharmacy both times. No gun was used in the robberies. Both defendants face up to 20 years in prison and a fine of as much as $250,000 for each robbery. They also could be ordered to … Continue reading →

(MCT) Diane Shattuck filled a prescription in December for a generic antibiotic called doxycycline. With insurance, she paid $4.30 for 60 pills at a CVS store in Orange, Calif. She returned at the end of February to refill her prescription. This time, she was told her cost for the drug would be about $165. It was bizarre, Shattuck, 73, told me. And no one at CVS could explain why the price was so high. Unfortunately, I wont be able to offer a clear-cut answer, either. But my effort to untangle Shattucks situation cast a harsh light on the shadowy world of drug pricing. It revealed that different manufacturers can charge wildly different prices for what is essentially the same generic medicine, and that drugstores can rake in unconscionable profits by passing along marked-up meds to customers without the slightest explanation. Its a very murky world, said Jeffrey McCombs, a professor of pharmaceutical economics and policy at the University of Southern California. All you can say for sure is that the price being charged has nothing to do with the actual cost of producing the generic. Theres been a lot of buzz lately about insane health care charges. Time magazine carried … Continue reading →

Recently, Fred's Inc. (FRED) reported total sales and comparable sales for Feb 2012. While total sales increased marginally from the comparable period in the prior year, comparable sales declined. Deferred sales related to the spring layaway program would have added 60 bps of growth to both total and comparable store sales. Comparable store sales for the month fell 1.5% compared to a slip of 0.7% in the year-ago month. The decline was attributed to lower transactions due to economic headwinds, ongoing tax processing and refunds, and higher payroll taxes. Comparable store sales for general merchandise was however positive for the second straight quarter, helped by new products in auto/hardware and strength at its discount tobacco shop. Pharmacy department sales saw positive script growth that was offset by the ongoing brand-to-generic shift in the pharmacy industry, which affected comparable sales by 280 basis points. Total sales for Feb 2013 marginally increased to $159.2 million compared to $159.0 million a year ago. The company opened one store and an Xpress pharmacy during the month. Guidance Lowered Keeping in view higher insurance and operating cost and lowering of prices on basic and consumable products, the company lowered its fourth quarter 2012 earnings to … Continue reading →

Motley Fool health care analyst Max Macaluso and Fool contributor Brian Orelli sat down to discuss the impending launch of Arena Pharmaceuticals' (NASDAQ: ARNA) obesity drug Belviq and the obesity drug market in general. Their conversation follows: Max Macaluso: So, Brian, let's start by talking about Arena Pharmaceuticals' fourth-quarter results. I listened to the conference call on Monday and was hoping to get a clearer picture of when Belviq will actually be available. The drug is ready to be launched by Arena's partner Eisai, but the DEA scheduling is still not complete. Why is this process taking so long? Brian Orelli: Belviq has the potential for abuse, so in addition to the FDA approval, the companies had to get the DEA involved. The drug's potential for abuse is pretty low. The FDA recommended a Schedule IV designation, which shouldn't hamper marketing the drug beyond filling out some additional DEA paperwork. Sleeping aids are usually Schedule IV; Pain medications like OxyCotin or Viodin are either Schedule II or Schedule III and have more restrictions since they have more potential for abuse. The DEA agreed with the FDA and gave it a Schedule IV designation. But then there's a 30-day public comment … Continue reading →

SYDNEY Mayor Cecil Clarke has gathered an eclectic mix of people to study the organization and operation of Cape Breton Regional Municipality. Just because something has been done a certain way operationally for 20 years doesnt mean we should continue to do it that way or that its best that way, Clarke said in a news release issued earlier this week. The eight-member task force is headed by Keith Brown, a vice-president at Cape Breton University. Members include Bea LeBlanc, chairwoman of the Nova Scotia Advisory Council on the Status of Women; businessman Parker Rudderham, president and CEO of Pharmacy Wholesale and Services Inc., and Alice Almond, a human resources expert. Also included are former labour leader Cliff Murphy, former teacher LeRoy Peach, Mary Beth Doucette, director of quality assurance and ISO compliance with Membertou band council, and Owen Fitzgerald, executive director of the Unamaki Economic Benefits Office in Membertou First Nation. The group will report back to council with suggestions on how to work more efficiently with less while at the same time strengthening the municipality. (mmacintyre@herald.ca) Go here to read the rest: C.B. mayor seeks diversity on task force … Continue reading →

DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire United States, while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of February 2013. TEMPE, Ariz., March 5, 2013 /PRNewswire/ -- Economic activity in the non-manufacturing sector grew in February for the 38th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business. The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee. "The NMI registered 56 percent in February, 0.8 percentage point higher than the 55.2 percent registered in January. This indicates continued growth at a slightly faster rate in the non-manufacturing sector. This month's reading also reflects the highest NMI since February 2012, when the index registered 56.1 percent. The Non-Manufacturing Business Activity Index registered 56.9 percent, which is 0.5 percentage point higher than the 56.4 percent reported in January, reflecting growth for the 43rd consecutive … Continue reading →

SAN FRANCISCO - March 5, 2013 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has been retained as capital markets advisor to Pharmagen, Inc. ("Pharmagen") (PHRX). In this capacity, Merriman will advise Pharmagen management on various strategic initiatives focused on increasing shareholder value. These initiatives include the effective engagement of a potentially broader institutional shareholder base, strategies intended to increase trading liquidity and evaluating various opportunities, including assessments of their trading patterns and opportunities to pursue other venues, such as NYSE, NASDAQ and the OTCQX. Pharmagen produces sterile injectables and has wholesale distribution capabilities to which allow the Company to quickly supply shortage prone markets. Pharmagen also develops over-the-counter nutraceutical products, which are designed to be taken in conjunction with prescription medications to alleviate side effects without drug interaction. "We are very pleased to add Pharmagen to our rapidly expanding universe of corporate advisory clients,"said Douglas Rogers, Managing Director of Merriman`s Capital Markets Advisory Group. "Supporting our clients with corporate brokerage and strategic advisory services relating to their capital structure, market engagement practices and overall public markets strategy efforts are the central themes of our advisory platform at Merriman. We … Continue reading →

NEW YORK, March 04, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Micron Technology, Yahoo! Inc, VIVUS, Arena Pharmaceuticals. Micron Technology, Inc. (NASDAQ:MU - News) has said that the Tokyo district court has issued an order approving its acquisition of Japanese memory chipmaker Elpida after creditors agreed to the plan. Is MU a Buy After The Recent Slump? Lets find Out Here http://vbtrendreport.com/aw/?code=MU In July, the Idaho company offered to buy Elpida for about $750 million in cash and to pay creditors a total of $1.75 billion in annual installments through 2019. Micron is losing money as the PC industry is in shambles and wants to gain larger economies of scale which is possible with this acquisition. A group of bondholders led by hedge funds Linden Advisors, Owl Creek Asset Management and Taconic Capital Advisors have also been interested in the company for some time and they have filed a suit at the U.S. Bankruptcy Court in Delaware. Micron and Elpida now need approval from this court. Elpida was driven into bankruptcy due to falling chip sales and foreign competition. The acquisition would make Micron the No. 2 global … Continue reading →