CVS/pharmacy’s myWeekly Ad in the spotlight; what does it mean for vendors?
CVS/pharmacy’s SVP and chief marketing officer Rob Price was recently featured on Yahoo! Finance’s Big Data Download to talk about the launch of its new myWeekly Ad, which is a digital circular powered by its ExtraCare loyalty program.
This is important as it demonstrates that CVS/pharmacy continues to get major attention for the new program, and it further illustrates the push — major push — that the retailer is making on personalization.
It was indeed the topic of discussion when Drug Store News traveled to CVS Caremark’s headquarters in Woonsocket, R.I., a few months ago to talk about the company’s retail initiatives for a report in the Oct. 14 issue of the magazine. Now, CVS/pharmacy is hitting the airwaves to talk about the initiative.
The message for vendors is that there is no one size fits all any more. Vendors must recalibrate what success looks like. Personalization, segmentation and clustering means that a vendor can have better results in 1,000 stores today in the right markets with the right customers, than it could have in 7,000 stores sending out tons of product that never turns.
It also means that you have to have a firm view of who your customer is, and what the role for your product is in their lives.
NASP launches medical marijuana task force
ALEXANDRIA, Va. — The National Association of Specialty Pharmacy has launched a task force to investigate pharmacological management of medical marijuana, the group said.
Currently, according to NASP, there are no national standards of practice for the management of medical marijuana, though according to the National Organization for the Reform of Marijuana Laws, 21 states and the District of Columbia have legalized marijuana for medical purposes. Two of those states, Washington and Colorado, have legalized recreational use as well.
The NASP’s professional practice committee will oversee a group of volunteers representing various stakeholders to develop a framework for educational content, practice parameters and other standards of care.
"Medical marijuana has come to the forefront of patient care in many of the diseases that specialty pharmacists treat, including multiple sclerosis, cancer, HIV and others," NASP CEO Gary Cohen said. "More education for physicians, pharmacists and patients is needed to ensure individuals receive the correct product with the correct efficacy and drug delivery system to fit their disease. As an organization, NASP believes that it has the responsibility, intellectual advisers and obligation to take the lead on this emerging area of medical care."
Expect more retail pharmacy operators and wholesalers to accumulate significant transglobal frequent flyer miles
With is proposed acquisition of German wholesaler Celesio, McKesson creates a global distribution enterprise on the scale of Walgreens, Alliance Boots and AmerisourceBergen before them. In addition to wholesaling, Celesio operates about 2,200 pharmacies across six countries and is the No. 2 operator in the United Kingdom.
Retail pharmacy and drug sourcing both are more and more becoming a global business. Just last week, the head of the second-biggest drug chain in Brazil announced he would be open to a buyout. So expect more of these headlines in the months to come.
Walgreens and Alliance Boots have really established the utility in global sourcing by exceeding expectations on the synergies generated out of their deal. And AmerisourceBergen becomes a part of that enterprise in 2014.
To be sure, now that two of the three largest U.S. wholesalers have brokered deals that places their drug procurement on a global scale, Cardinal Health may be the next company announcing a major deal.
According to Drug Channels’ Adam Fein, who broke down the deal in detail as part of his latest blog, Cardinal may be inclined to join with Econdisc Contracting Solutions, the group purchasing organization with Express Scripts, Kroger and Supervalu. Or they could deepen ties with CVS Caremark.