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Cardinal Health Foundation awards more than $350,000 in grant funding to combat prescription drug abuse

BY Michael Johnsen

DUBLIN, Ohio — Cardinal Health Foundation recently awarded more than $350,000 in grant funding to 29 nonprofit organizations that are dedicated to the fight against prescription drug abuse, the organization announced Wednesday.

Grant recipients were selected from key communities where either a high concentration of Cardinal Health employees live and work, and/or where the community is particularly focused on addressing prescription drug misuse/abuse. Recipients have been awarded funding in amounts ranging from $5,000 to $15,000.

"We understand the critical role community-based education plays in combating this growing public health epidemic, and we believe that local, nonprofit organizations are key in the effort to prevent prescription drug abuse," stated Betsy Walker, community relations manager for Cardinal Health. 

This is the fourth year that the Cardinal Health Foundation has offered this funding through its Prescription Drug Abuse and Misuse Prevention Grant Program. All 501(c)(3) nonprofit organizations are eligible to apply, but priority consideration is given to programs that are specifically focused on increasing awareness of the dangers of misusing and abusing prescription medications and to those that educate communities about the proper use and disposal of prescription drugs.

 

 

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Eddie Lampert sells 7% of stake in Sears Holdings

BY Alaric DeArment

NEW YORK — Sears Holdings chairman and CEO Eddie Lampert has pared down his stake in the retailing company, according to a regulatory filing Tuesday.

A Securities and Exchange Commission filing showed that Lampert reduced his stake in Sears Holdings to 48.4%, from a 55.4% stake reported in March. That leaves him with about 51.6 million shares in the company, whose stock was valued at $50.38 per share Wednesday morning on the NASDAQ, down from its opening price of $52.62.

Bloomberg reported that Lampert had given up majority control due to investors pulling money from the company after its string of 27 quarterly sales declines.

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Walgreens same-store sales up 3.2% for November with $6.1 billion in sales

BY Michael Johnsen

DEERFIELD, Ill. — Walgreens on Wednesday reported November sales of $6.1 billion, an increase of 4.1% for the same month in fiscal 2013.

Total front-end sales increased 3.2%, while comparable store front-end sales increased 1.9%. Customer traffic in comparable stores increased 0.8% and basket size increased 1.1%.

The company said that a meaningful increase versus prior quarters in promotional investment contributed to the improvement in traffic and comparable store front-end sales for November and throughout the quarter.

Prescriptions filled at comparable stores increased by 1.4% in November and increased 3.7% on a calendar day-shift adjusted basis. This year’s November had one additional Saturday and one fewer Thursday compared with November 2012. These calendar shifts negatively impacted prescriptions filled at comparable stores by 230 basis points.

Prescriptions filled at comparable stores were positively impacted by 40 basis points due to more flu shots versus last year but were negatively impacted by 70 basis points due to the slowest start to the flu season in six years, Walgreens reported. Flu shots administered at pharmacies and clinics season to date were more than 6.1 million versus nearly 4.6 million last year.

November pharmacy sales increased by 4.7%, while comparable store pharmacy sales increased 4% and increased by a calendar day-shift adjusted 6.3%. 

Sales in comparable stores increased by 3.2% in November. Calendar day shifts negatively impacted total comparable sales by 150 basis points, while generic drug introductions in the last 12 months negatively impacted total comparable sales by 60 basis points.

Total sales for the first quarter of fiscal 2014, which ended Nov. 30, were $18.4 billion, up 6%. Comparable store sales for the first quarter of fiscal 2014 increased 5.5%, while front-end comparable store sales for the quarter increased 2.2%. Prescriptions filled at comparable stores increased 5.6% in the first quarter and comparable pharmacy sales increased 7.5%.

Walgreens opened 22 stores during November, including nine relocations, acquired a net total of 55 stores and closed one.

 

 

 

 

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