PHARMACY

Rite Aid taps Martindale for senior executive VP role

BY Michael Johnsen

CAMP HILL, Pa. Rite Aid on Thursday brought another Pathmark veteran to the team—Ken Martindale, who has more than 30 years of marketing, merchandising and operations experience, to the post of senior executive vice president of merchandising, marketing and logistics, effective immediately.

In this position, Martindale, 48, is responsible for category management, merchandising, marketing, supply chain and inventory management for Rite Aid,. He reports to John Standley, Rite Aid president and chief operating officer.

Martindale most recently served as co-president, chief merchandising and marketing officer at Pathmark Stores, until December 2007 when the company was sold to A&P.

“Ken is a seasoned food and drug retail executive with significant experience in nearly every facet of our business and has exceptional leadership skills,” Standley said, who served as Pathmark’s chief executive officer during Martindale’s tenure at the grocery company. “He has a track record of developing successful merchandising and marketing programs that improve profitability. Just as importantly, he can implement those programs at reasonable cost and with minimal disruption to the business.”

Martindale started his retail career in 1975 with Smith’s Food and Drug Centers, a west coast food and drug chain, where he rose from a district manager in store operations to senior vice president of marketing and senior vice president of sales and merchandising.  In January 1998, he joined Fred Meyer, a $15 billion food, drug and general merchandise retailer, after it bought Smith’s. He served as executive vice president, sales and procurement for Fred Meyer until September 1999 after the company’s merger with the Kroger Company.

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PHARMACY

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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