Walgreens finalizes Kerr Drug deal
DEERFIELD, Ill. — Walgreens on Friday announced that it has completed its acquisition of certain assets of Kerr Drug’s retail drug stores and specialty pharmacy business. In fiscal year 2012, Kerr Drug’s retail drugstores and specialty pharmacy business recorded total sales of $381 million.
Financial terms of the agreement were not disclosed.
As previously announced in September, the acquisition is an asset transaction and includes Kerr Drug’s retail drug stores, specialty pharmacy business and a distribution center.
Kerr Drug retained ownership of its long-term care pharmacy business.
Report: No matter which company you pick, retail pharmacy represents strong investment potential
NEW YORK — The drug store sector makes for a sound investment for investors of all stripes, according to a Motley Fool report published Thursday.
In early morning trading Friday, CVS stock traded at $63.59, up 4 cents; Walgreens at $59.16, down 4 cents; and Rite Aid at $5.17, up 4 cents.
CVS/Caremark is positioned as the safest bet with its two-tiered business strategy leveraging retail pharmacy and pharmacy benefit management.
Walgreens is a sound long-term hold because of its dividend history. Walgreens has paid out a quarterly dividend over consecutive quarters dating back some 80 years. And that dividend has increased for 38 consecutive years.
For those with "a higher risk tolerance," Rite Aid represents a strong growth story. "The company has implement[ed] a remarkable turnaround during recent quarters by controlling costs and introducing more generic drugs to boost sales," Motley Fool wrote. "This has materially increased profitability, and Rite Aid investors have benefited from an explosive gain of more than 290% in the stock price over the last 12 months."
National Pharmaceutical Council elects Boehringer Ingelheim executive as chairman
WASHINGTON — Boehringer Ingelheim SVP managed markets Jeff Huth has been elected by the National Pharmaceutical Council as chairman of the board for 2013-2014, the organization said Friday.
Huth has served as a member of the NPC’s board since 2009 and has previously had the positions of vice chairman and treasurer. The NPC, founded in 1953, describes itself as a health policy research organization focused on the advancement of science and medical innovation.
"Throughout his tenure on our board, Jeff has been dedicated to promoting NPC and its role as a leading healthcare policy research organization," NPC president Dan Leonard said. "We’re looking forward to having Jeff play an even more active role in leading NPC’s efforts on issues related to balancing the needs of patients with the population, the value of pharmaceuticals and the use of real-world evidence."