PHARMACY

Fred’s Super Dollar acquires specialty pharmacy operation

BY Michael Johnsen

MEMPHIS, Tenn. — Fred's Super Dollar on Wednesday announced that it has signed an agreement to acquire Reeves-Sain Drug Store, a private specialty and retail pharmacy company based in the greater Nashville, Tenn., area. The acquisition includes both EntrustRx, a specialty pharmacy operation that has a strong regional presence in the Southeast serviced from facilities in Spring Hill, Tenn., and Columbus, Miss., as well as the single Reeves-Sain retail pharmacy in Murfreesboro, Tenn.
 
"We are excited to announce the acquisition of EntrustRx, which will further expand our presence in the specialty pharmacy arena — the largest growth area of the pharmacy industry," stated Fred's CEO Jerry Shore. "It offers a strong strategic fit to our current specialty pharmacy operations. We welcome the skilled and valued EntrustRx and Reeves-Sain Drug Store employees to the Fred's team and know that they will make great contributions to the future our pharmacy operations."
 
Shore noted that the EntrustRx acquisition will offer additional advantages to Fred's, including accreditation and access to expanded specialty networks, expertise in different disease states, access to limited-distribution medications, and a model for a scalable retail experience providing clinical services, immunizations, compounding and hospice medications.
 
Under the terms of the agreement, Fred's will acquire EntrustRx and the Reeves-Sain retail pharmacy for approximately $66 million, comprising $53 million in cash and a $13 million note payable. Fred's expects to utilize available cash and borrowings under its revolving loan and credit agreement to fund the transaction, which is expected to close in April 2015 subject to customary closing conditions. Fred's anticipates that the deal will be accretive to earnings per share in the first full year following closing.
 
EntrustRx, which is licensed in all 50 states, dispenses specialty pharmaceuticals to treat complex conditions and diseases that typically require ongoing support for extensive periods of time. Its main therapy lines include hepatitis C, oncology, growth hormones, multiple sclerosis and rheumatology.
 
Fred's was represented in the transaction by Baker, Donelson, Bearman, Caldwell & Berkowitz, with pharmacy regulatory counsel provided by Bass, Berry & Sims. Reeves-Sain Drug Store was represented in the transaction by Adams and Reese.
 
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Rx Impact: DSN special report examines role of community pharmacy as face of health care in America

BY Rob Eder

EDITOR’S NOTE: As the editor Drug Store News, I am frequently reminded that the stories we report on extend far beyond the industry we cover. I often feel like if you could see sit where I sit and see what I see, you’d find that the community pharmacist is a greatly underutilized component of our nation’s healthcare system; that we could do a lot more to close the gap on provider access, lower the cost of care and ultimately improve health outcomes for millions of Americans, just by enabling the pharmacist on the corner to practice at the top of their license.

That’s why we put together RxImpact as a special edition of Drug Store News for federal and state legislators, policymakers, news media and other critical stakeholders outside of retail pharmacy industry, to help bring greater awareness of the full impact community pharmacy can have as our nation tries to improve an overburdened health care system.

The stories that follow provide a myriad of examples of what community pharmacy can do — and is doing everyday — to help improve health care. I am sure when you’re done reading these articles, you’ll see what I see.

—Rob Eder

Editor in Chief, Drug Store News

 

Putting pharmacy’s ‘Access Agenda’ to work for America

For pharmacy patient care, reports reflect real life

As ‘face of neighborhood health care,’ America’s pharmacies offer new solutions

By the numbers: How community pharmacists measure up 

Pharmacies fill public health need as vaccination centers 

Pharmacy-based adherence efforts: The value of face-to-face interventions 

Electronic prescribing yields a trove of benefits 

Pharmacy education — toward a more clinical care model 

Shelter from the storm: Reliable first responders, pharmacies provide critical disaster relief 

Mobilized health care: Putting pharmacy services on wheels

Provider status legislation for pharmacists: Momentum accelerates with public support

Local store tours provide first-hand look at value of community pharmacy 

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Canadian Generic Pharmaceutical Association elects chair, vice chair

BY Michael Johnsen

TORONTO — The Canadian Generic Pharmaceutical Association on Monday elected Jeff Watson, president global generics at Apotex, as chair of CGPA, and Larry MacGirr, COO Pharmascience, as vice chair of CGPA.
 
"It is an honour to serve as Chair of CGPA, particularly during this period of change in the Canadian prescription drug market," Watson said. "We continue to face significant challenges from the pricing and regulatory changes that are occurring in the Canadian and global markets. The future of our industry's presence in Canada is dependent on how successful we are in working cooperatively with the federal and provincial and territorial governments as we navigate the changes that are now occurring."
 
Watson said that CGPA's focus will remain on working with Canada's provinces and territories to ensure that the national pricing framework signed between the Council of Federation and CGPA provides the stable, predictable pricing and reimbursement environment needed for generic manufacturers to continue to bring new cost-saving prescription medicines to the Canadian market.
 
"The pricing environment in Canada has changed dramatically over the past eight years. This has provided hundreds of millions of dollars in additional savings to our health-care system," said Watson. "These changes have, however, put significant strain on the generic pharmaceutical supply chain in Canada, including pharmacies, distributors and manufacturers."
 
Watson also stated that there remain significant challenges for the industry in working with federal and international regulators to ensure that rapidly evolving regulatory requirements do not threaten the ongoing supply of generic pharmaceutical products in the Canadian market and the industry's ability to research, develop and manufacture products in Canada.
 
"Patient safety is of paramount importance. We must work with regulators to ensure that the sweeping changes being implemented in Canada and globally are done so in a manner that does not threaten patient access and safety," Watson added.
 
Watson also said that CGPA will be focusing on ensuring that Canada is a viable market for the production and sale of biosimilar treatments. Clear rules for the approval and reimbursement of biosimilar products are necessary for the ongoing sustainability of both public and employer-sponsored drug plans, and to ensure that more Canadians can gain access to the treatments they need.
 
Watson joined Apotex in 1993 and, over the last 20 years, has held various positions within Apotex. He was appointed president of global generics at Apotex earlier this month.
 
MacGirr has been with Pharmascience for the past four years. Prior to joining Pharmascience, MacGirr spent 17 years in the pharmaceutical over-the-counter and medical device businesses in the United States and Canada.
 
"The issue of drug shortages remains a priority for CGPA. There are many domestic and international factors that have an effect on the supply of pharmaceutical products, both brand and generic," said MacGirr. "CGPA will continue to play a leadership role in bringing stakeholders to the table to mitigate the impact of shortages on patients and health-care professionals and, importantly, working to identify, address and overcome the root causes of shortages."
 
 
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