PHARMACY

NACDS names new officers for 2015-2016

BY Ryan Chavis

 

PALM BEACH, Fla. — The National Association of Chain Drug Stores announced during its Annual Meeting, the election of new officers, four new executive committee members and five new board of directors member for the coming year.
 
Randy Edeker, chairman, president and chief executive officer of Hy-Vee will serve as the new NACDS chairman of the board of directors. Edeker succeeds John Standley, chairman and chief executive officer of Rite Aid.
 
In addition, Martin Otto, chief merchant and CFO of H-E-B, was elected vice chairman, and J.K. Symancyk, president of Meijer, was elected treasurer. Each officer will serve a one-year term.  
 
“I congratulate Randy Edeker on his election as NACDS chairman of the Board of Directors,” said NACDS president and CEO Steven Anderson, IOM, CAE.  “During his service on the Executive Committee, Randy’s leadership helped drive NACDS’ activities on key industry issues and policies. His extraordinary leadership at Hy-Vee has driven continued success and further illustrates his commitment to the industry.  We look forward to working with him in his new role with NACDS in the coming year.”
 
The NACDS Board also elected the following new executive committee members: Labeed Diab, president of health and wellness with Walmart; Alex Gourlay, president of Walgreens; Martin Otto, chief merchant and CFO of H-E-B; and J.K. Symancyk, president of Meijer. 
 
The five new board of directors members, who were elected to serve three-year terms, include: Richard Ashworth, president, pharmacy and retail operations with Walgreens ; Helena Foulkes, president, CVS/pharmacy and EVP, CVS Caremark, with CVS Health; Jon Giacomin, CEO, pharmaceutical segment with Medicine Shoppe International; Alex Gourlay, president of Walgreen Co.; and David Neu, president, Good Neighbor Pharmacy. 

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Mylan to commence with formal offer to acquire Perrigo

BY Antoinette Alexander

POTTERS BAR, England — Mylan announced on Friday that it commence with a formal offer to acquire generic drug maker Perrigo.

Under the terms of the offer announced Friday, Perrigo shareholders will receive $60 in cash and 2.2 Mylan ordinary shares for each Perrigo ordinary share. The formal offer is worth about $33 billion in cash and stock.

It is expected that, following the consummation of the transaction, Mylan shareholders will own approximately 61.8% of the outstanding Mylan ordinary shares on a fully diluted basis and former Perrigo shareholders will own approximately 38.2% of the outstanding Mylan ordinary shares on a fully diluted basis.

So far, Perrigo has rejected Mylan’s advances. Earlier in the week, Perrigo unanimously rejected the unsolicited proposal from Mylan, disclosed April 8, to acquire all of the outstanding shares of Perrigo for $205 per share in a deal valued at $29 billion.

"While we are disappointed by the decision of the Perrigo Board to reject our proposal without entering into discussions thus far, we are still hopeful and confident that we can engage with their Board about our offer and how to best bring our organizations together,” stated Mylan's executive chairman Robert Coury. "As evidenced by today's Rule 2.5 announcement, we remain steadfast in our offer to acquire Perrigo, given the substantial opportunities we anticipate it will create for our company, shareholders and other stakeholders.  We will not be distracted from the pursuit of this exciting, value-creating combination."

Mylan expects the combination will result in at least $800 million of annual pre-tax operational synergies by the end of year four following the consummation of the offer.

Meanwhile, Mylan shareholders have another deal to consider: Teva Pharmaceutical Industries recently submitted an unsolicited proposal to acquire Mylan in a deal valued at $40 billion.

 

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The new Accutab Personal Pillbox turns a smart watch into a medication adherence tool

BY Antoinette Alexander

 

BOSTON — Boston-based e-pill Medication Reminders is releasing a pill box for smart watches.

The Accutab Personal Pillbox turns a smart watch into a practical medication adherence tool. Organize all medications weekly, store them in your Accutab and use a smart watch to remind you to take your medications.

This pill box was designed by an arthritis patient, and its simple operation makes it a practical tool for persons of all ages taking multiple medications and/or taking lots of medicines or supplements.

The Accutab Personal Pillbox is a semi-automatic pill dispenser for one person and can be mounted under or inside a kitchen cabinet. Accutab can dispense all your meds up to three per day. It is easy to dispense medications even for patients with arthritis, simply move the red lever from left to right to dispense all your pills in a medicine cup or into your hand.

Accutab works with all smart watches. You may use the Apple Watch's daily alarm function or use the Web MD medication reminder function (included with the Apple Watch) to schedule daily pill reminders. Notifications will include images of the medication, the amount to take, and when to take it. Users will be prompted to log whether they've taken or skipped a dose; alternately, they can hit a 15-minute snooze button or dismiss a notification entirely.

 

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