PHARMACY

Duane Reade announces $3.5 million settlement for Q4 2008

BY Antoinette Alexander

NEW YORK Duane Reade, without admitting liability, has announced a $3.5 million litigation settlement that will result in a $3.5 million one-time, pre-tax charge for the fourth quarter.

The two class action cases concern the retailer’s alleged past payment practices for certain overtime and employee non-exempt classifications.

The settlement is subject to the approval of the U.S. District Court for the Southern District of New York. The company stated that while it believes it can “strongly defend against the matters involved in this litigation” it has decided to settle to avoid additional defense costs and uncertainty surrounding the litigation.

The retailer, which operates 251 stores, is expected to announce its fourth quarter and fiscal year 2008 results in March.

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Assurant Health announces benefits partnership with Take Care

BY Antoinette Alexander

MILWAUKEE Assurant Health has announced that its health plan members can now receive in-network benefits at all Take Care Clinics.

With the addition of the 322 Take Care Clinics, which are located within Walgreens stores, Assurant Health customers with Individual Medical, Short Term Medical and Real Choices Small Group plans have access to more than 800 retail health clinics throughout the United States.

“This agreement is part of our continuing commitment to give our customers more choices and convenient access to affordable health care options,” said Scott Krienke, SVP of product lines for Assurant Health.

Added Peter Miller, president and CEO of Take Care Health Systems, “Our goal is to provide access to care to as many individuals as possible. Partnering with companies like Assurant Health allows us to offer our model of care to more individuals across the country, and this national contract sets the stage for continued coverage as we expand our model to new markets and states.”

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FDA approves generic version of Medicis’ Loprox

BY Alaric DeArment

ROCKVILLE, Md. The Food and Drug Administration has approved a generic version of Medicis’ Loprox, FDA records show.

The agency approved Paddock’s ciclopirox gel in the 0.77 percent strength on Jan. 7. The gel is used to treat seborrheic dermatitis.

Medicis’ non-acne skin medicines had sales of $173 million in 2007, according to Medicis financial data, which did not list separate figures for Loprox. Nycomed also makes a generic version of the 0.77 formulation, while Medicis continues to market the 1 percent formulation.

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