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Improved generic sourcing drives Cardinal Health revenues up 18%

BY Michael Johnsen

 

DUBLIN, Ohio — Cardinal Health on Thursday posted $25.4 billion in third-quarter revenue, up 18%. 
 
"We're pleased to report strong overall results for the third quarter while continuing to make the moves to lead and create value in today's dynamic healthcare environment," stated George Barrett, chairman and CEO Cardinal Health. "During this past quarter, we announced our plan to acquire Cordis, significantly enhancing our scale, product line and capabilities in the cardiovascular area. This move aligns squarely with our strategy around physician preference items. Further, our recent acquisition of the specialty distribution business of Metro Medical expands our scale in specialty pharma and extends our reach into additional therapeutic areas."
 
Revenue for the Pharmaceutical segment increased 20% to $22.6 billion due to growth from existing and new customers. Segment profit increased 25% to $567 million, driven by strong performance under the company's generics program, which includes the net benefit of Red Oak Sourcing as well as the growth from existing and new customers.
 

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Rite Aid’s April pharmacy sales bloom

BY Michael Johnsen

CAMP HILL, Pa. — Rite Aid on Thursday posted a same-store sales increase of 3% for the four weeks ended April 25. April front-end same-store sales, which were negatively impacted by 0.9% due to a shift in the timing of Easter, decreased 0.5%. Pharmacy same-store sales, which included an approximate 145 basis points negative impact from new generic introductions, increased 4.6%. 
 
Prescription count at comparable stores increased 1.8% over the prior-year period.
 
Total drug store sales for the four-week period increased 2.4% to $2 billion. Prescription sales accounted for 68.9% of drug store sales, and third party prescription sales represented 97.7% of pharmacy sales.
 
Rite Aid is also performing well year-to-date with a 3.6% lift in same-store sales for the eight weeks ended April 25. Front-end same-store sales increased 1% while pharmacy same-store sales increased 4.9%. Prescription count at comparable stores increased 2.2% over the prior-year period. Rite Aid salers were up 3.2% to $4 billion. 
 

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Bartell names retail veteran as CEO

BY Ryan Chavis

Brian Unmacht (left) and George D. Bartell

SEATTLE — Bartell Drugs on Wednesday announced the appointment of Brian Unmacht as CEO. He was named president of the chain in January 2015. George Bartell has been the company’s CEO for the past 25 years and will continue to serve as chairman, the company stated. Jean Bartell Barber is the company’s vice chairman and treasurer.
 
Unmacht joined Bartell Drugs following a nearly three-decade career with REI where he held a number of senior positions, including EVP and COO. He joined Bartell Drugs’ board of directors in 2011. 
 
“Brian’s dedication to customer service, well-developed leadership skills and grasp of our day-to-day operations has been quickly demonstrated. In his expanded role, he will play a very important leadership role in positioning us for long range growth,” George Bartell said. 
 
Unmacht said the company’s commitment to customer service has not wavered since 1890. “It’s not only part of our heritage, it’s a key element for our future success here in the Puget Sound area,” he said. “We’re very focused on serving neighborhoods throughout the region to meet their health and wellness needs.”
 
Members of the Bartell family are engaged in the company’s succession transition, including Evelyn Barber, who is rejoining the organization this year upon completion of graduate school, the company stated. 

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