Shoppers fetching natural dog food
NEW YORK — Pet lovers want the best for their furry friends. Last year, Americans spent $55 billion on their pets, according to Packaged Facts, and the upward trend shows no signs of slowing.
One of the brightest spots in the pet category is natural and organic pet food. While Packaged Facts estimated that the market segment accounts for about 7% of pet food sales, the market research firm sees a huge upside to the segment.
The American Pet Products Association said pet food trends are mimicking human food and diet trends. Antioxidant ingredients are likely to become common. Formulas designed to combat pet obesity also are becoming more popular. Veterinarians estimated that 14% of cats and 12% of dogs are obese.
The article above is part of the DSN Category Review Series. For the complete Pet Food Sell-Through Report, including extensive charts, data and more analysis, click here.
Pharmacists urge N.Y. governor to sign mail-order pharmacy bill
NEW YORK — Pharmacists are urging New York governor Andrew Cuomo to give the green light to legislation that would prevent health insurers from requiring patients to receive their drugs via mail order, according to published reports.
According to the reports, local pharmacists said at a press conference that the bill would help stop losses of pharmacies and jobs.
Still, pharmacy benefit managers and the Federal Trade Commission have opposed the bill, New York Assembly Bill 5502-B, which has passed in both houses. In a letter earlier this month responding to state Sen. James Seward’s request for comments, the FTC said the bill would raise the price of drugs and reduce access to them, as well as limit a health plan’s ability to steer beneficiaries to such mail-order vendors as pharmacy benefit managers that may offer lower prices that use financial and other incentives if a competing retail pharmacy is willing to fill prescriptions at "comparable prices." The intended purpose of the bill is to help patients choose where they fill prescriptions.
The Apothecary Shops jumps in ‘Inc. 5000’ ranking
PHOENIX — Specialty pharmacy provider The Apothecary Shops made a big jump in Inc. magazine’s list of the country’s fastest-growing private companies, the chain said Wednesday.
The Apothecary Shops ranked No. 1,640 in the annual "Inc. 5000" list, 754 spots higher than in 2010, and 1,076 higher than in 2009.
"The fact that we continue moving up on the ‘Inc. 5000′ list reflects the focus, hard work and commitment of our entire team, especially in a struggling economy," Apothecary Shops president Keith Cook said.
The company said it earned its ranking based on 165% growth over the past three years, having earned $170.8 million in 2010. The Apothecary Shops specializes in drugs for cancer, fertility, pain management, transplants, infectious diseases, women’s health and compounding at 15 retail locations in six states, in addition to its nationwide specialty mail-order business.
First place on the list went to Ideeli, a New York-based online clothing retailer that has seen 40,880% growth over the past three years.