Shoppers Drug Mart appoints Domenic Pilla as president, CEO
TORONTO — Shoppers Drug Mart has named Domenic Pilla as its president and CEO, the company said.
Pilla, most recently president of McKesson Canada, will take the new position at the 1,190-store Canadian chain starting Nov. 1. Pilla has worked in retailing and health care for nearly 30 years, including experience in retail pharmacy, pharmaceutical distribution and sales management, specialty health networks, chronic disease management and adherence and health information technology.
"I am delighted to join Shoppers Drug Mart at this time of challenge and reform in healthcare and community pharmacy," Pilla said. "A time of change is also a window of opportunity for the company to continue to lead the industry in providing innovative patient services, while driving organizational efficiencies and continued growth in the retail sector."
Domenic Pilla has the strength and range of leadership, the collaborative ability, combined with a deep passion and caring for the pharmaceutical care industry in Canada. Whether it is their associate group, their governance group or their investor relations, I believe he can effectively and sensitively engage all levels of interest in a comprehensible dialogue which creates happier WIN-WIN outcomes for all levels of the organization.
Sun Pharma resolves FDA warning letter
MUMBAI, India — Sun Pharmaceutical Industries last month said that it has resolved issues cited in a warning letter sent to the company by the Food and Drug Administration pertaining to one of Sun Pharma’s U.S.-based manufacturing facilities.
The generic drug maker said its wholly owned subsidiary received the go-ahead from the FDA following a reinspection of the plant, located in Cranbury, N.J., which was conducted this past June. The warning letter, which was issued Aug. 25, 2010, was considered resolved after the plant was declared as having acceptable regulatory status.
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Coutu: Pharmacy growth driving results despite generic price changes
LONGUEUIL, Québec — Jean Coutu Group on Tuesday reported revenue of 635.2 million Canadian dollars (US $598.5 million) during the second quarter ended Aug. 27, an increase of 1.5%. Net profit per share came in at C$0.29, including a C$0.10 gain on sale of Rite Aid’s shares, compared with C$0.18 during the second quarter of fiscal year 2011.
Coutu credited the slight lift to market growth and a growing store base, but cautioned that the wave of generic drug introductions, coupled with the price reductions of generic drugs previously decreed by the Québec government, would have a negative drag on earnings. "Despite the price reductions of generic drugs, we have posted a significant growth of our operational results, which demonstrates the success of the implementation of our business plan,” stated François Coutu, president and CEO.
Shares of Coutu stock were down slightly, around 1.2%, from prior-day trading on the Toronto Stock Exchange. Earlier this morning, Coutu stock was down as much as 5%.
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