| December 28, 2007 | News for the retail pharmacy industry |
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| Pharmacy News |  |  |
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- Arizona's in-store health clinics continue to grow
MediMin is one of a number of retail health clinics opening inside grocery stores and pharmacies throughout Arizona, promising convenient care for basic health problems. The rapid expansion of the clinics in stores such as CVS has caused a backlash from physicians' groups, who believe government oversight is necessary to ensure patient safety. To date, the Arizona Medical Board has had no complaints, according to a spokesman. The Arizona Republic (Phoenix)
(12/27)  
- CVS Caremark to cease mail-order operations in Phoenix
CVS Caremark Corp. will close down its mail-order pharmacy operations in Phoenix at the end of the year, citing "changing business demands." The move will affect more than 400 workers, but about 100 of them will be reassigned to other positions within the company, a representative for the retail and pharmacy benefits company said. The Arizona Republic (Phoenix)
(12/27)
| Retail News | | |
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- Forecast: Consumers to spend $60 billion over next week
Shoppers are likely to buy $60 billion worth of merchandise over the seven days after Christmas, according to experts, and almost 50% of that spending will come when gift cards are redeemed. The last week of December should account for as much as 17% of retailers' sales for the month, according to Michael McNamara, vice president of research and analysis for MasterCard Advisors. CNNMoney.com
(12/26)
- Holiday e-commerce sales strong, but reveal slow growth
U.S. consumers will have spent approximately $29.5 billion at online stores over the holiday season once all of the numbers are in, according to projections from comScore. E-commerce will likely show a 19% growth spurt in sales, which would be strong for traditional retailers but is significantly lower than the 25% to 30% growth seen in recent years. NYTimes.com
(12/28)
| In Washington | | |
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- New budget bill raises FDA allocation, opens research access
President George W. Bush on Wednesday signed a new spending bill that allocates $1.73 billion to the FDA for the fiscal 2008 -- $145 million more than the funding level in fiscal 2007. The bill also provides researchers and academic institutions free online access to the results of NIH-funded research a year after they have been published in academic journals. Health Blog/WSJ
(12/27)
| U.S. Pharmaceutical Industry | | |
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- Endo Pharmaceuticals partners with Alexza for pain-drug inhaler
Endo Pharmaceuticals Holdings announced it has agreed to develop and market Alexza Pharmaceuticals' AZ-003, an early-stage hand-held inhaler designed to deliver the painkiller fentanyl into the lungs. Under the deal, the Pennsylvania-based drug firm will pay Alexza an upfront fee of $10 million, an additional $40 million upon completion of predetermined regulatory milestones, and sales royalties. The Boston Globe/Associated Press (free registration)
(12/27), Bloomberg
(12/27)
- Commentary: Regulatory environment stifles biotech industry
An FDA committee's decision not to recommend the expanded approval of Avastin for the treatment of metastatic breast cancer illustrates how breakthroughs in the biotech industry can be stalled by overly restrictive policies, writes Pharmacyclics president and CEO Dr. Richard Miller in this Wall Street Journal opinion piece. Miller said the FDA needs to streamline its approval process for cancer drugs, just as the government, the industry and academia should collaborate to get new treatments through clinical and social setbacks. The Wall Street Journal (tiered subscription model)
(12/28)
| Managed Care | | |
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- Indiana health program begins enrollment
Indiana's health program for low-income adults this week has begun issuing its first cards to enrollees. The program is designed to provide insurance to individuals with a family income that falls from 22% to 200% of the federal poverty level. The Indianapolis Star
(12/28)
| Technology | | |
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- Bill could end item pricing in Massachusetts groceries
A bill has been introduced in the Massachusetts Legislature that would exempt grocery stores from putting prices on individual items and require them to install electronic shelf tags instead. Critics, however, say the bill would leave consumers with no way of knowing if they are being overcharged. BostonNOW
(12/28)
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