H.D. Smith veteran Joe Conda tapped for NACDS Pratt Award at pharmacy conference
SAN DIEGO —The National Association of Chain Drug Stores tapped wholesale and pharmaceutical industry veteran Joe Conda for its highest honor, the Harold W. Pratt Award, to close out its 2010 Pharmacy and Technology Conference here.
The award, named for longtime Walgreens pharmacy leader Harold Pratt, was given in recognition of Conda’s four decades of leadership in pharmacy, according to NACDS. The honor was established in 1985 by the NACDS board to recognize individuals “whose activities have contributed to the promotion, recognition and improvement of the practice of pharmacy within the chain drug industry,” according to the organization.
Conda is SVP strategic planning for pharmaceutical wholesaler H.D. Smith, charged with managing the company’s strategic development process, translating opportunities into measurable objectives and assisting senior executive leadership with long-term planning. Prior to joining H.D. Smith, Conda consulted for pharmaceutical, consumer packaging and medical technology companies.
Previously, he served as president of Owens Illinois Healthcare Packaging, and also served in sales and marketing capacities at Brockway.
“We are pleased to honor Joe’s 40 years of dedicated service to the pharmacy industry by bestowing upon him the Harold W. Pratt Award,” said NACDS president and CEO Steve Anderson, who honored Conda at the annual pharmacy conference’s final reception and dinner Aug. 31. “Joe has spent his time building relationships and building strategy. He has forged relationships among many groups that benefited not only his company, but also the industry. He has helped shape pharmacy into what it has become today, and helped to create the momentum that will continue to enhance pharmacy’s role in healthcare delivery.”
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Re-evaluating Chinese currency remains a bad idea
WHAT IT MEANS AND WHY IT’S IMPORTANT Herbert Hoover is alive and well — and picking up his prescriptions at the local drug store.
(THE NEWS: Retailers urge Congress to reject Chinese currency legislation. For the full story, click here.)
Of course, he isn’t. But if he were, he might have some advice to offer current members of Congress and occupants of the White House based on his experience with the Smoot-Hawley Tariff Act of 1930, which attempted to rescue the U.S. economy by imposing tariffs on imported goods, but instead ignited a trade war that many historians blame for deepening the Great Depression.
The legislation to impose tariffs on Chinese imports as a way to force it to revalue the yuan is based on the assumption that China manipulates its currency to make its manufactured goods more competitive in the U.S. market. Thus, the reasoning goes, if China were to revalue the yuan, it would help American manufacturers by making Chinese imports more expensive and American goods more competitive in China, thereby helping to ease the U.S.-China trade deficit, which totaled $226.9 billion last year and has so far reached more than $145 billion this year, according to U.S. Census data.
But it’s not that simple. In 1930, the United States manufactured most of its own consumer goods; but that’s no longer true, and the bulk of consumer goods, from toys to digital cameras, now come from China. Also frequently lost in the melee is the fact that most of the supposedly Chinese goods are not Chinese at all, but rather products with American, Japanese, Korean and European brands that are assembled in China. Unlike in the 1970s and 1980s, when such Japanese companies as Sony were eating the lunch of such American counterparts as General Electric, the “Made in China” label now graces the products of both.
For that reason, if legislators imposed big tariffs on Chinese goods or if China dramatically revalued the yuan, it would simply force retailers to pass the extra costs to consumers. So after picking up his prescriptions, Hoover would find the digital camera he had planned to buy from behind the counter noticeably more expensive. While this would not likely lead to another Great Depression, it would certainly diminish consumers’ purchasing power.
As for the manufacturing jobs, many experts have said they would simply migrate to cheaper countries rather than returning to the United States. This trend already is under way in textiles, as many clothing companies have started moving factories from China to such countries as Bangladesh in response to the increasing costs of manufacturing in China.
Perrigo seeks approval for generic Zegerid OTC, Schering-Plough files suit
ALLEGAN, Mich. Perrigo has filed for regulatory approval of a generic version of an over-the-counter medication for frequent heartburn, prompting a lawsuit from the branded version’s manufacturer.
The company announced Friday that it had filed for approval for omeprazole and sodium bicarbonate in the 20 mg/1,100 mg strength. The medication is a generic version of Zegerid OTC, made by Schering-Plough HealthCare, a subsidiary of Merck.
Schering-Plough filed a lawsuit Monday alleging patent infringement in the U.S. District Court for the District of New Jersey to prevent Perrigo’s commercialization of the product.
Zegerid had sales of around $60 million during the 12-month period ended in the “most recent month,” according to SymphonyIRI Group.
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