PHARMACY

Rite Aid reports steady results for November

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid on Thursday reported flat same-store sales results for the five weeks ending Nov. 29. Front-end same-store sales fell slightly 0.4 percent, in part because of a later Thanksgiving and one less week of traditional holiday shopping as compared to last year. Pharmacy same-store sales, which included an approximate 273 basis point negative impact from new generic introductions, were up slightly by 0.2 percent.

The core Rite Aid Stores fared a little better over the five-week period, with an overall increase of 1 percent in same-store sales results with the front-end dropping slightly by 0.8 percent and pharmacy same-store sales increasing 2.1 percent.

Same-store results for the Brooks/Eckerd acquired stores fell 2.1 percent over the fivee-week period, representing a decline of 0.8 percent across the front-end and a 3 percent decline across the pharmacy.

For the third quarter ending Nov. 29, sales declined 0.9 percent to $6.4 billion. Same-store sales for the quarter were up 1.4 percent, with 2.3 percent growth in the front-end and a 1 percent increase in pharmacy comparable sales results.

Prescription revenue represented 67.9 percent of total drugstore sales, and third party prescription revenue was 96.4 percent of pharmacy sales.

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Fougera endows NACDS scholarship fund

BY Jim Frederick

NEW YORK With a major endowment from Fougera, the National Association of Chain Drug Stores Foundation last night inaugurated the Edmond Fougera Scholarship Fund at the 10th Annual NACDS Foundation Dinner.

To establish the fund, Fougera president and chief executive officer Paul McGarty presented a $160,000 contribution to Foundation chairman Steven Anderson. The money, a major addition to the NACDS Foundation Student Scholarship Program, will generate scholarships to be awarded each year to exceptional pharmacy students who have demonstrated strong leadership and a commitment to community pharmacy.

To establish the fund, Fougera president and chief executive officer Paul McGarty presented a $160,000 contribution to Foundation chairman Steven Anderson. The money, a major addition to the NACDS Foundation Student Scholarship Program, will generate scholarships to be awarded each year to exceptional pharmacy students who have demonstrated strong leadership and a commitment to community pharmacy.

“Advancing community pharmacy by supporting the next generation of professionals is an honorable mission, and one that Fougera is proud to be a part of,” McGarty said during the presentation.

“Pharmacy students will play a critical role in the future of healthcare delivery for patients,” said Anderson. “We are pleased to partner with Fougera in establishing the Edmond Fougera Scholarship Fund and help students meet their potential and continue to advance the profession of pharmacy.”

The company was founded by French immigrant Edmond Fougera in 1849 when he opened a retail pharmacy in Brooklyn, New York, and is a supplier of topical dermatologic applications.

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Study: Generics just as good as branded heart disease drugs

BY Alaric DeArment

NEW YORK Generic drugs for treating heart disease work as well as branded drugs, according to a new study.

The study, published Wednesday in the Journal of the American Medical Association, was based on 47 studies of nine drugs published in journals such as Medline and International Pharmaceutical Abstracts between January 1984 and August 2008. The researchers, from Harvard Medical School, found no difference in how well patients did when given branded drugs or generic equivalents for cholesterol, hypertension or prevention of heart attacks.

Generic drugs can cost between 30 and 80 percent less than branded drugs. The Food and Drug Administration received authority to approve generic drugs in 1984, with the passage of the Hatch-Waxman Act, though it does not have a way to approve drugs that mimic the effects of biotech medications.

“Today’s article in the respected medical journal JAMA confirms that generic medicines are as safe and effective as their brand-name counterparts,” Generic Pharmaceutical Association president and chief executive Kathleen Jaeger said in a statement Wednesday. “This scientific review is the latest in a growing number of authoritative statements from the FDA and others proving that it is safe to substitute an FDA-approved generic medicine for a brand-name product.”

This year, Jaeger said, legislatures in 33 state have introduced “carve-out” bills designed to place limits on when generic drugs may be used.

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