Food and Staples Retailing Drug Retail

More

  • Walgreens, which is in the process of buying smaller rival Rite Aid Corp, said in April last year that it had identified ways to cut costs by $1.5 billion by the end of its fiscal year in August 2017. Walgreens said on Tuesday that it achieved net synergies of $329 million in the second quarter ended Feb. 29 from its acquisition of the 55 percent it did not already own in...

  • NEW YORK, April 4- For much of the last three years, investors have been willing to pay more for expected profit at Walgreens than for competitor CVS, but the pharmacy chain may be losing that edge on Wall Street. Evercore ISI analyst Ross Muken rates both stocks as "buys," but said that most investors choose between the companies, with Walgreens now representing a...

  • Clinical trial for preventing migraines

    CNBC's Meg Tirrell reports on data from clinical trials by Alder and its migraine drug ALD403.

  • NEW YORK, March 17- OptumRx, the pharmacy benefit manager of UnitedHealth Group Inc, said on Thursday it signed an agreement with Walgreens Boots Alliance that is the first step in a strategic relationship with the pharmacy chain. The model puts OptumRx on more equal footing with its two largest competitors, CVS Health- which is made up of pharmacies and a pharmacy...

  • Positive study for marijuana-based drug to treat seizures

    GW Pharmaceuticals CEO Justin Gover, discusses the potential for Epidiolex for the treatment of Dravet syndrome.

  • March 2- Wal-Mart Stores Inc said on Wednesday that prescription history and other basic information on a few thousand online U.S. pharmacy customers may have been visible to other users during a four-day stretch last month due to a coding mistake. "We had a software coding error for a 72- hour period from February 15 to 18 that affected a limited group of online...

  • March 2- U.S. drug distributor McKesson Corp said it would buy drugstore chain Rexall Health from Katz Group for C $3 billion to strengthen its position in Canada's pharmaceutical supply chain. The deal will give McKesson access to about 470 retail pharmacies, and help leverage its existing assets in the country, particularly in Ontario and Western Canada, the...

  • March 2- U.S. drug distributor McKesson Corp said it would buy drugstore chain Rexall Health from Katz Group for C $3 billion to strengthen its position in Canada's pharmaceutical supply chain. Under the deal, which will be funded by a mix of cash and debt, McKesson will gain access to about 470 retail pharmacies, and the acquisition should help leverage its...

  • Ali Health, an affiliate of e-commerce giant Alibaba Group Holding Ltd, said late on Sunday the move may severely impact its business, although it added it had not received notice from the CFDA over the operation of the platform. Hunan- based pharmacy chain Yontinhe Group said in January it was suing the CFDA over the monitoring system, alleging the arrangement...

  • Ali Health said in a filing on Sunday it had not received notice from the CFDA over the operation of the platform. Hunan- based pharmacy chain Yontinhe Group said last month it was suing the CFDA over the monitoring system, alleging the arrangement gave an unfair advantage to Ali Health, which has its own online drug sales business. Ali Health said it had not...

  • Hunan- based pharmacy chain Yontinhe Group said last month that it was suing the CFDA over the monitoring system, alleging the arrangement gave an unfair advantage to Ali Health, which has its own online drug sales business. Shares in Ali Health, an affiliate of e-commerce giant Alibaba Group Holding, fell sharply in the aftermath of the announcement, fueled by...

  • CVS forecast an adjusted profit of $1.14- $1.17 per share for the first quarter, below the average analyst estimate of $1.18, according to Thomson Reuters I/B/E/S. The net income attributable to the company rose 13.4 percent to $1.50 billion, or $1.34 per share, in the fourth quarter ended Dec. 31, helped by strong demand in its pharmacy business.

  • Feb 9- CVS Health Corp, the No.2 U.S. drugstore chain by store count, reported an 11 percent rise in quarterly net revenue, helped by strong demand in its pharmacy business. The net income attributable to the company rose to $1.50 billion, or $1.34 per share, in the fourth quarter ended Dec. 31 from $1.32 billion, or $1.14 per share, a year earlier. Net revenue rose to $41.15...

  • SHANGHAI, Jan 29- Alibaba Health Information Technology Ltd's role in a regulatory platform tracking drug sales was brought into the spotlight after a pharmacy chain said it had filed a lawsuit alleging the arrangement gave Ali Health an unfair advantage. Hunan- based Yontinhe Group posted a notice on its website on Tuesday which said it was suing the China...

  • Jan 28- Walgreens Boots Alliance Inc, the largest U.S. drugstore chain, said it would immediately suspending Theranos's laboratory services at a store in California. The news comes a day after the U.S. government's Centers for Medicare& Medicaid Services said that Theranos' deficient practices at the Newark lab posed "immediate jeopardy to patient health and...

  • Jan 28- Walgreens Boots Alliance Inc, the largest U.S. drugstore chain, said it would immediately suspending Theranos's laboratory services at a store in California. Walgreens said it has told Theranos, a blood-testing startup, to immediately stop sending any lab tests provided through Theranos Wellness Centers at Walgreens to its lab in Newark, California...

  • Ex-drug CEO Shkreli tweets response House committee

    The House Oversight Committee wants Turing Pharmaceuticals founder Martin Shkreli to testify on the issue of raising drug prices, reports CNBC's Eamon Javers.

  • Walgreens, which offered to buy Rite Aid for $9.4 billion in October, said the deal was progressing as planned. Walgreens said it now expected an adjusted profit of $4.30- $4.55 per share for the year ending August, compared with $4.25- $4.55 it had forecast earlier. The net income attributable to Walgreens rose to $1.11 billion, or $1.01 per share, in the first...

  • Rocky road for Chimerix

    CNBC's Meg Tirrell reports on the ups and downs for Chimerix's experimental drug brincidofovir.

  • *Deal with Walgreens more than replaces Philidor-Valeant CEO. Dec 15- Valeant Pharmaceuticals International Inc on Tuesday said it reached a deal to distribute its drugs through leading pharmacy chain Walgreens Boots Alliance Inc, boosting credibility with wary investors and sending its shares up 17 percent. The company said on Tuesday its arrangement...