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SNL alumnus Seth Meyers to headline NACDS Foundation Dinner

BY Michael Johnsen

ARLINGTON, Va. – Emmy-award-winning writer and Saturday Night Live alumnus Seth Meyers will headline the National Association of Chain Drug Stores Foundation Dinner, which will be held on December 1, 2016, in New York, the association announced Wednesday.

Meyers currently hosts "Late Night with Seth Meyers on NBC." The New York Times recently referred to Meyers as the “smartest talk show host” of his generation.

“As the Foundation comes together during the NACDS Foundation Dinner to celebrate accomplishments and renew commitments to advancing patient care, we look forward to the unique perspective Seth Meyers will bring – in what has certainly been a year filled with turbulent political and world events,” stated Kathleen Jaeger, NACDS Foundation president. “In addition, we look forward to welcoming someone with such a strong reputation for giving back, as Seth Meyers does through his engagement and support for Memorial Sloan Kettering Cancer Center and Children’s Hospital Los Angeles, among others.”

In its 18th year, the NACDS Foundation Dinner and contributions from the Foundation’s benefactors help support evidence-based research that advances patient care, pharmacy education, student scholarships and charitable organizations that improve patient outcomes.

The Foundation has continued to advance its mission this year through several vital initiatives, including a collaborative response to the Zika virus public health emergency with the Centers for Disease Control and Prevention, the CDC Foundation, the March of Dimes and other stakeholders to raise awareness about the Zika virus and protect at-risk populations in Puerto Rico and the U.S.

The Foundation is also partnering with more than 100 pharmacies on an innovative Point-of-Care Testing program to chart the health benefits of community-based services for a variety of common ailments and infections. In addition, as public health authorities raise awareness about HIV (human immunodeficiency virus) testing and Hepatitis C awareness as a way to prevent liver damage and liver cancer, a study funded by the Foundation is evaluating a model which would improve patient care by increasing access to important HIV and Hepatitis C testing. Demonstrating its ongoing commitment to supporting pharmacy education, the Foundation also provided $230,000 in scholarships and grants through its 2016 NACDS Foundation Scholarship Program.

During his 13-year tenure as a popular Saturday Night Live personality and head writer, Meyers was known for his sharp wit and insightful political commentary. Among Meyers’ many accolades, in 2014 he was named one of Time magazine’s 100 most influential people in the world – the same year in which he hosted the 66th Primetime Emmy Awards. Meyers won an Emmy Award in 2011, and has earned 13 Emmy Award nominations.

Meyers is a graduate of Northwestern University.
 

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Rite Aid Q2 revenues up 4.8% to $8 billion

BY Michael Johnsen

CAMP HILL, Pa. – Rite Aid on Thursday reported a revenues increase of 4.8% to $8 billion for its second quarter ended Aug. 27. The Pennsylvania chain also recorded net income of $14.8 million, or 1 cent per diluted share, adjusted net income of $35.5 million, or 3 cents per diluted share and adjusted EBITDA of $312.7 million, or 3.9% of revenues.

"In the second quarter, we continued to drive positive results in our Pharmacy Services Segment, which includes our EnvisionRx PBM, and had strong performance in our front-end business," stated John Standley, Rite Aid chairman and CEO. "We also saw improvements in prescription drug costs, but these improvements were more than offset by the challenging reimbursement rate environment, which we expect to continue through the remainder of the fiscal year," he said. "Heading forward, we will remain focused on operating our business as efficiently as possible while pursuing key growth opportunities such as our flu immunization campaign and converting additional stores to the Wellness format, which continue to perform well and now represent nearly half of our chain."

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 3 cents per share, Yahoo Finance reported. Rite Aid shares have increased slightly more than 3% since the beginning of the year. The stock has risen 11% in the last 12 months. Shares were selling for $8.04 at close of business Wednesday.

Rite Aid's Retail Pharmacy Segment revenues totaled $6.5 billion and decreased  2.4% compared to the prior year period primarily as a result of a decrease in same-store sales. Revenues in the company's Pharmacy Services Segment, which was acquired on June 24, 2015, were $1.6 billion.

Same-store sales for the quarter decreased 2.5% over the prior year, consisting of a 3.6% decrease in pharmacy sales, partially offset by a 0.1% increase in front-end sales.

Pharmacy sales included an approximate 101 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores decreased 1.8% over the prior year period. Prescription sales accounted for 68.5% of total drug store sales, and third party prescription revenue was 98.1% of pharmacy sales.

In the second quarter, the company opened 3 stores, relocated 6 stores, and remodeled 85 stores, bringing the total number of wellness stores chainwide to 2,214. The company also acquired 1 store and closed 14 stores, resulting in a total store count of 4,550 at the end of the second quarter.

The company also opened 10 clinics in the second quarter, bringing that total to 90.
 

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Report: Use of internet as health resource by 65+ on the rise

BY DSN STAFF
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