CAMP HILL, Pa.— Drugstore chain Rite Aid Corp.' s revenue from established locations increased 5.1 percent last month despite downward pressure from sales of lower-priced generic drugs. Rite Aid shares rose 11 cents, or 2.3 percent, to $4.92 in midday trading. An influx of cheaper generic equivalents to brand-name medicines has hurt revenue for Rite Aid and other...» Read More
Paid members of the Arcview Group have committed to investing at least $50,000 into the budding cannabis industry. Members are in Denver hearing pitches from pot start-ups, reports CNBC's Josh Lipton.
June 19- Drugstore operator Rite Aid Corp said higher drug costs and a fall in reimbursement rates would continue into the second quarter, sending it shares down 4.4 percent. Rite Aid's shares have been on a tear for most of the past year, until the company warned on first-quarter profit and cut its full-year earnings forecast earlier this month.
June 19- Drugstore operator Rite Aid Corp's quarterly profit more than halved, hurt by higher-than-expected drug costs and a bigger-than-anticipated fall in reimbursement rates. Rite Aid said a delay in the expected fall in prices of generic medicines raised its drug costs.
The nation's largest drugstore chain, based in Illinois, is under pressure from some of its shareholders to do a deal known as a tax inversion with Alliance Boots Holdings Ltd that would shift Walgreen's tax domicile overseas.
June 5- Drug retailer Rite Aid Corp estimated first-quarter profit much below analysts' expectations due to higher-than-expected drug costs and a bigger-than-expected fall in reimbursement rates. Rite Aid's shares fell as much as 14 percent on Thursday on the New York Stock Exchange.
Incyte CEO Herve Hoppenot, provides insight to his company's progress on cancer research at this year's ASCO conference.
Ariad Pharmaceuticals CEO Dr. Harvey Berger, says investors are responding to his company's better overall picture, and the progress on its leukemia drug Iclusig.
In the U.S., half of all men and a third of all women will develop cancer in their lifetimes. CNBC's Meg Tirrell reports which stocks analysts are eyeing into the conference.
Costco reported third-quarter results below analysts' estimates hurt by an increase in merchandise costs and other expenses.
CNBC's Meg Tirrell reports Sanofi and Eli Lilly announced an agreement to pursue regulatory approval of an over-the-counter version of erectile dysfunction drug Cialis.
CNBC's Meg Tirrell reports on the high cost of drug prices. Ezekial Emanuel, University of Pennsylvania; and Alex Brill, American Enterprise Institute, share their concerns and solutions for the issue.
PTC Therapeutics skyrockets on a recommendation for approval in Europe for its Duchenne Muscular Dystrophy drug. CNBC's Meg Tirrell provides insight to the disease and treatment options. Shane Kovacs, PTC Therapeutics CFO, looks at the move in the stock.
CNBC's Meg Tirrell reports why drugs in the U.S. versus the rest of the world are priced differently.
May 20- Staples Inc forecast a fall in sales in the current quarter as customers shift to e-retailers, mass merchants and drugstores to buy their office supplies, and the company reported its weakest quarterly gross margins since May 2003.
May 20- Staples Inc forecast a decline in sales in the current quarter as it struggles to win back shoppers who have shifted office supply purchases to e-retailers, mass merchants and drugstores.
Lawmakers in four states are considering changing the rules to allow terminally ill people access to experimental drugs before they have FDA approval. Kenneth Goodman, University of Miami, thinks this would be a bad bet for patients. Miles Nadal, MDC Partners Chairman & CEO, weighs in.
CNBC's Meg Tirrell spoke with Merck Chairman & CEO Ken Frazier about the company's decision to sell its over the counter health care products to Bayer.
*Apple shares in spotlight after closing above $600. *Shares of Office Depot Inc jumped 10 percent in premarket trading even as it reported a quarterly loss and said it would shut at least 400 stores in the United States, hurt by competition from e-retailers, mass market chains and drugstores.
*Apple shares in spotlight after closing above $600. *Shares of Office Depot Inc jumped 8 percent in premarket trading even as it reported a quarterly loss and said it would shut at least 400 stores in the United States, hurt by competition from e-retailers, mass market chains and drugstores.
May 6- Office Depot Inc said it would close at least 400 stores in the United States as shoppers shift their office supply purchases to e-retailers, mass market chains and drugstores. Office Depot, which also reported a quarterly net loss, said it expects to close 150 stores this year.