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SpiderTech launches pre-cut kinesiology tape

BY Michael Johnsen

TORONTO — SpiderTech recently announced the launch of its pre-cut kinesiology tape that provides drug-free relief for anyone suffering from minor aches and pain. Each application lasts for up to five days. 
 
SpiderTech works in three ways. First, the tape provides enhanced sensory stimulation which essentially disrupts and diminishes signals of pain. Second, micro-circulatory effects improve fluid dynamics and lymphatic drainage to improve circulation and help in the healing of swelling, bruising and oedema. Finally, if the tape is stretched and applied over muscles in a shortened position, it will serve as support and a mechanical barrier to potentially harmful postures and ranges of motion.  
 
The product is now available in stores nationwide, including 1,000 select Walmart locations, the company reported. 
 
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GPhA: Generic drugs represented cost savings of $239 billion in 2013

BY Michael Johnsen

 

WASHINGTON — The Generic Pharmaceutical Association on Wednesday released a report showing that generic drugs saved the United States health system $239 billion in 2013, a 14% increase over cost savings achieved in 2012, and the largest annual savings to date. The report also calculates that generic medications saved a record of nearly $1.5 trillion over the most recent decade (2004-2013).
 
According to the report, nervous system and cardiovascular treatments in the last 10 years accounted for 58%, or $851 billion, of cost savings.
 
“Just last month, we have seen how smart health choices like opting for generic drugs hold the power to move our nation’s budget trajectory in a positive direction," stated Ralph Neas, GPhA president and CEO. "In fact, recent Congressional Budget Office estimates now predict that Medicare and Medicaid spending is expected to drop by billions over the next decade,” he said. “With more than $239 billion in savings in 2013 alone from generic drugs, it is clear that generics have played a critical part in lowering health cost projections. This track record of savings is unparalleled, and the savings will grow substantially as we enter the era of biosimilars, the next frontier of generic industry innovation.”
 
In recent years, spending on federal health care programs has slowed sharply. In August 2014 the CBO changed its estimates for Medicare spending, projecting a drop of $49 billion (less than 1%) from 2015 and 2024, while Medicaid spending is expected to drop by $40 billion (approximately 1%) over the next decade. Generic drugs, which provide the same medicine and same outcomes for patients at a lower price, played a key role in the downturn of rising health costs.
 
All data were compiled by IMS Health on behalf of GPhA.
 
 

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Walmart to rebrand Express format

BY Michael Johnsen

 

BENTONVILLE, Ark. — Walmart on Tuesday stated it will rebrand its small Express grocery format to the Walmart Neighborhood Market, according to published reports. 
 
All future Express stores, which average around 12,000 sq. ft., will open under the Neighborhood Market banner. The 21 existing Express stores will be rebranded. 
 
The reason behind the name change is that consumers use both formats for the same purpose — in-and-out shops, fill-in trips and prescription refills. Both formats have more grocery items with limited general merchandise, fuel and pharmacy.
 
In February Walmart announced plans to increase its capital investment in smaller formats from 120 to 150 new stores for the fiscal year to between 270 and 300.  Fresh food- and pharmacy-driven comp sales across its Neighborhood Market banner, which is larger at 38,000 square feet, was the impetus behind that decision. 
 

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