CVS

  1. Channel: Ecommerce & Digital

Target Pauses Shipt Deliveries in Seattle Over New Gig Worker Laws

The Seattle Times reports that Target plans to suspend deliveries by its Shipt service in Seattle this month, a reaction to new ordinances passed by the City Council. Those ordinances were designed to protect gig workers, requiring minimum pay and paid sick time off. However, Target says that those ordinances “impose challenges for Shipt to […]
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  1. Media & Marketing

Drug Channels News Roundup, December 2023: CVS’s New GPO, Medicaid vs. PBMs, 340B in Part D, and a Rockin’ Ex-CEO

Happy New Year, everyone! It has been another wild year for our ever-evolving healthcare system. Thank you, dear readers, for welcoming Drug Channels into your inboxes, browsers, and apps. I’m proud of the diverse and thoughtful audience who follows and comments on our unique content. The Drug Channels community now encompasses 50,000+ LinkedIn followers, 25,000+ […]
2 min read
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  1. Trends & External Forces

Rx Records  Being Provided To Law Enforcement, No Warrant Required

The Washington Post reports that “the nation’s largest pharmacy chains have handed over Americans’ prescription records to police and government investigators without a warrant, a congressional investigation found, raising concerns about threats to medical privacy. “Though some of the chains require their lawyers to review law enforcement requests, three of the largest — CVS Health, […]
2 min read
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  1. Channel: Drug

What’s Behind CVS Health’s Novel Vertical Integration Strategy for Humira Biosimilars (rerun)

This week, I’m rerunning some popular posts while I prepare for Friday’s Drug Channels Outlook 2024 live video webinar. Click here to see the original post from September 2023. One update: CVS Caremark’s 2024 formulary for patient-administered autoimmune products prefers: Humira Hyrimoz (the high WAC Sandoz biosimilar) adalimumab-adaz (the unbranded, low WAC Sandoz biosimilar) Perhaps coincidentally, […]
2 min read
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  1. Department: HBC

Your Views:  We All Deserve A Break Today

Lots or response to yesterday’s FaceTime, in which I went to McDonald’s to road test the supposedly new-and-improved burgers that have been seven years in the making. MNB reader Barbara Watters wrote: Love the morning FaceTimes.  Your McDonald’s segment had me remembering my recent Big Mac a few weeks ago.  Blah and bleg.  The flavor […]
10 min read
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  1. Channel: Drug

What CVS Pharmacy’s New Cost-Plus Reimbursement Approach Means for PBMs, Pharmacies, Plan Sponsors, and Prescription Prices

Is the world ready for new ways to price pharmacy and pharmacy benefit manager (PBM) services? CVS Health thinks so, as evidenced by two new initiatives that it announced yesterday. Below you’ll find details and links to source documents. I commend CVS Health for attempting to address key economic challenges facing the retail pharmacy industry […]
3 min read
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  1. Channel: Drug

CVS Says It Wants To Simplify Prescription Drug Pricing

The Wall Street Journal reports that CVS Health plans to “move away from the complex formulas used to set the prices of the prescription drugs it sells, shifting to a simpler model that could upend how American pharmacies are paid.”  The goal, the story says, is to have “CVS’s roughly 9,500 retail pharmacies … reimbursed […]
2 min read
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  1. Trends & External Forces

Drug Wholesalers and Brand-Name Drug Prices: Understanding CVS Health/McKesson and Why Pharmacies Lose Money on GLP-1s

Consider two apparently unrelated drug channel anomalies: In McKesson’s 2023 fiscal year, CVS bought $75 billion in pharmaceuticals from McKesson’s wholesale business—a jump of more than 35% compared with the previous year. Despite skyrocketing sales for anti-obesity GLP-1 drugs, many retail pharmacies are losing money on every prescription. The common factor behind these two disparate […]
2 min read
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  1. Trends & External Forces

CVS Launches Programs to Add Transparency to Prescription Pricing

CVS Health will launch a new model for pharmacy reimbursements designed to bring greater transparency and simplicity to the system. CVS CostVantage, which the company plans to launch in 2025, will define the drug cost and related reimbursement with contracted pharmacy benefit managers (PBMs) and payors, using a transparent formula built on the cost of […]
2 min read
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  1. Channel: Drug

Walgreens Pivots To Store-Based Home Delivery

The Wall Street Journal reports that “Walgreens Boots Alliance is betting its 8,700 bricks-and-mortar stores, and not a network of fulfillment centers, hold the key to speeding up delivery of online consumer orders and increasing sales. “The pharmacy giant recently closed a warehouse in Edwardsville, Ill., dedicated to filling e-commerce orders for household items such […]
2 min read
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  1. Technology & Innovation

Your Views:  Expenses vs. Contributions

Got the following email from an MNB reader: Amazon’s recent announcement to cut “several hundred jobs from its Alexa division” and “place more attention on AI business” makes me wonder why the employees were being cut.  Was their skill set so narrow they couldn’t be trained to perform the AI work?  Will Amazon use a third […]
2 min read
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  1. Channel: Grocery

Study:  Retail Personalization Winners (& Why)

dunnhumby has released a special edition of the dunnhumby Retailer Preference Index (RPI), this one “designed to determine which retailers in the $1 trillion U.S. grocery market personalize the shopping experience best for their customers.” The winner is:  Amazon. H-E-B and Kroger came in second and third. According to the report, “These three retailers are […]
3 min read
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  1. Channel: Mass

Your Views:  Missed Target, Business Lessons & Oreo Ice Cream Cakes

Yesterday, when commenting about a Wall Street Journal story about Target’s challenges, I wrote: Granted, I’ve hardly scratched the surface when it comes to visiting Target stores, but for me, the flavor that overwhelmingly comes to mind when I think about them is vanilla.  They’re okay, but just okay, and just okay isn’t enough these […]
6 min read
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  1. Channel: Drug

SN Top 10: Kroger, CVS, Walgreens top the week's headlines

 ​[[“value”:”In this week’s recap of the Top 10 most popular Supermarket News articles, the top story was Kroger, Albertsons sound off on negative comments over pending merger. A recent listening session about the pending Kroger, Albertsons merger was f”]] 
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  1. Associates & Employees

Union Looks To Organize Retail Pharmacy Personnel

CNBC reports that “the organizers of a recent retail pharmacy staff walkout are helping to launch a national push to organize those employees … a potential step to wide-scale unionization of thousands of pharmacists and technicians across the U.S. for the first time. “A new partnership between the organizers and IAM Healthcare – a union […]
2 min read
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  1. Trends & External Forces

Best Buy Health Partners with Leading Hospital to Support In-Home Care

In collaboration with Boston’s Mass General Brigham hospital, Best Buy Health will support an expanded home-based health care delivery model designed to improve how safe, quality care can be provided with technology and clinical expertise. The partners’ first priority is to scale and support Mass General Brigham’s Home Hospital, which will expand access to Massachusetts […]
2 min read
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  1. Channel: Delivery

DoorDash adds HSA and FSA payment capability

    [[“value”:” DoorDash has enabled payment options for both HSA (Health Savings Account) and FSA (Flexible Spending Accounts) to pay for eligible items at select merchants on the delivery company’s app.  Consumers can use their HSA and FSA funds to pay for over 30,000 HSA/FSA-eligible products on DoorDash including select over-the-counter (OTC) medicine, COVID-19 […]
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  1. Channel: Drug

CVS names new Aetna Medicaid president, Mark Santos

    [[“value”:” CVS Health has named Mark Santos as president, Aetna Medicaid. The announcement comes on the heels of the pharmacy giant’s third quarter revenue results, revenues that totaled nearly $90 billion, beating overall analyst expectations.  Related: CVS revenues up 10.6% in Q3 But CVS stock dipped after the earnings call in part […]
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  1. Department: HBC

CVS revenues up 16.9% in Q3

    [[“value”:” CVS Health said its revenues jumped 16.9% in the third quarter, reflecting growth across all of its businesses. In a conference call with analysts, the company didn’t directly address the ongoing talk of labor unrest among pharmacy workers, although President and CEO Karen Lynch did say the company was investing heavily in […]
3 min read
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  1. Trends & External Forces

CVS’ third quarter sales and profits beat forecasts

WOONSOCKET, R.I. —  CVS Health topped Wall Street’s estimates for third-quarter revenue and earnings. Adjusted earnings per share of $2.21 exceeded analysts’ predicted $2.13, while revenue of $89.76 billion beat the forecast of $88.2 billion. Karen Lynch “Our colleagues helped us deliver another quarter of positive results across our business areas,” said president and CEO […]
4 min read
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  1. Associates & Employees

A Good Time For Union Organizers

CNBC has a story about how “it is a particularly prudent time for unionized workers to organize as they enter new contracting periods, experts day. Cumulative wage growth is still faster for nonunionized workers than for unionized workers, but the gap is narrowing, said Julia Pollak, chief economist at ZipRecruiter.” There is a shift taking place:  […]
2 min read
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  1. Channel: Drug

Rx staff from CVS, Walgreens stores begin three-day walkout

NEW YORK — According to published reports, some employees at CVS Health Corp.  and Walgreens Boots Alliance’s  pharmacies launched a three-day walkout starting Monday to push the companies to improve working conditions and add more staff to their stores. The walkout, which has been dubbed “Pharmageddon” on social media platforms such as Meta’s Facebook where […]
2 min read
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  1. Media & Marketing

Drug Channels News Roundup, October 2023: CVS & Humira Biosimilars, GLP-1 G2N Bubble, 340B Abuses, Rite Aid’s Endgame, Mark Cuban Update, and an Epic Meetup

Zoinks! It’s time for a super-sized Halloween roundup of wicked Drug Channels’ tales. This month’s tricks and treats: Spooky! CVS Health frightens all but one Humira biosimilar maker away from its formulary. Creepy! The gross-to-net bubble for anti-obesity GLP-1 drugs walks among us. Grotesque! Penn Medicine gorges on the 340B program. Vampiric! Rite Aid’s many […]
2 min read
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  1. Trends & External Forces

thINc’s Value-Based Care Summit

thINc’s Value-Based Care Summit Accelerating Healthcare’s Shift in the Move from Volume to Value In-Person Event December 5-6, 2023 in Washington, DC www.thinc350.com/VBCS Use promo code VBCDC to save $100. Register Today. View the Agenda Snapshot As healthcare stakeholders continue to prioritize the move to value-based care and aim to provide equitable access to care […]
4 min read
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  1. Stores & Formats

Chain Drug Employees Plan Walkouts This Week

From Fox Business: “Workers from some of the nation’s biggest pharmacy chains, from CVS to Walgreens, have planned another ‘walkout’ starting Monday as they continue to plead for better working conditions. “They’re calling it ‘pharmageddon,’ Shane Jerominski, a licensed pharmacist for over a decade who is helping coordinate the latest protest, told Fox Business. “From […]
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  1. Channel: Drug

Your Views:  On Drugs

Got the following email from MNB reader Michael Blackburn: Regarding CVS and Walgreens (not even going to bring in the bankrupt Rite Aid into this discussion as they have been failing for the past two decades), when exactly were they poised to take over the U.S. healthcare system?  Historically, drug stores sold scripts with a […]
3 min read
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  1. Channel: Drug

FaceTime with the Content Guy:  Unhealthy Ambitions

The Los Angeles Times recently has a column about how Walgreens, CVS and Rite Aid tried to take over healthcare – and failed.  I think the piece got it partly right – healthcare is in fact a tough nut to crack.  But I also believe that the Times missed one critical factor – that CVS, […]
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  1. Partnerships & Alt Profit

Claire’s Adds Kohl’s to Growing Roster of Retail Partnerships

Claire’s is adding to its growing retail presence through a new partnership with Kohl’s that will see an assortment of the brand’s jewelry, accessories and cosmetics featured in Kohl’s stores nationwide in time for the holiday season. Claire’s activation at Kohl’s began rolling out in early October and will be live at 700 Kohl’s across […]
2 min read
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Amazon tops expectations for revenue, earnings

SEATTLE – Amazon posted better-than-expected revenue and earnings in the quarter ended March 31. Net sales increased 13% from a year earlier to $143.3 billion. The company reported first-quarter net income of $10.4 billion, or 98 cents a diluted share, compared to $3.2 billion a year earlier. Amazon’s operating income surged to $15.3 billion, up […]
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Walmart to close all 51 health centers

BENTONVILLE, Ark. — Walmart today said it has made the “difficult decision” to close its Walmart Health and Walmart Virtual Care clinics, citing a lack of profitability. “The decision to close all 51 health centers across five states and shut down the virtual care offering was not easy. We understand this change affects lives – […]
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