‘Pharmageddon’ Staff Walkout Had Low Impact, Say CVS And Walgreens
Most stores remained open during the three-day walkout action among some pharmacists, the companies said. In other pharma news, Nostrum Laboratories will pay up to $50 million to settle allegations of underpaid Medicaid rebates; Apple's long-term plans to revolutionize health care; and more.
Reuters:
CVS And Walgreens Say Pharmacist Work Action Had Minimal Impact
CVS Health Corp and Walgreens Boots Alliance on Wednesday said that a work action by some U.S. pharmacists this week had minimal impact on operations, with most stores remaining open. CVS Chief Executive Karen Lynch said in an interview that employees had called in sick at a few stores this week, but there were no store closures or disruptions to shifts due to the action. The company has about 30,000 pharmacists across stores and operates over 9,000 retail locations. (11/1)
AP:
CVS Health Books Strong 3Q But The Health Care Giant Preaches Caution On Next Year
CVS Health beat third-quarter forecasts thanks partially to its growing pharmacy benefits management side, but the health care giant is cautious about next year. Interim Chief Financial Officer Tom Cowhey told analysts Wednesday that it would be “prudent for investors to ground their expectations” for adjusted earnings at the low end of a range of $8.50 to $8.70 per share. That’s also what the company expects for full-year earnings this year. (Murphy, 11/1)
In other pharmaceutical industry news —
Stat:
Nostrum Laboratories, CEO To Pay Up To $50M Over Medicaid Rebates
A pharmaceutical company and its chief executive — who once defended Martin Shkreli for raising drug prices to controversial heights — agreed to pay up to $50 million to settle allegations of purposely underpaying Medicaid rebates. (Silverman, 11/1)
More health care industry developments —
CBS News:
Chicago Health Care Nonprofit Receives $9M From MacKenzie Scott
A Chicago nonprofit just got a $9 million donation – but it almost didn't happen, because the recipient thought the initial call was a scam. Billionaire MacKenzie Scott is the ex-wife of Amazon founder Jeff Bezos. Scott has made it her mission to give away millions to worthy nonprofits. Aunt Martha's helps more than 100,000 people in Illinois every year. It is also the only Federally Qualified Health Center in Illinois that is also licensed by the Illinois Department of Children and family Services for young people in out-of-home placements. (Kraemer, 11/1)
The CT Mirror:
Murder Of CT Visiting Nurse Prompts Calls For Home Care Protections
Legislators and health care workers gathered at the state capitol on Wednesday to advocate for increased health care workplace safety measures following the murder of a visiting nurse in Willimantic. The calls for action focused particularly on home settings, where many health care workers are behind closed doors with patients and vulnerable to dangerous conditions, including physical and verbal abuse. (Golvala, 11/1)
North Carolina Health News:
Nurses Head To Campaign School To Run For Office
Year after year, nurses top the list of the most trusted professions. At the same time, politicians rank at the bottom when it comes to the public’s trust. That fact didn’t deter nearly three dozen nurses from participating in a program earlier this year to prepare them to run for public office. (Hoban, 11/2)
Also —
Bloomberg:
Apple Has Plans to Eventually, Maybe Revolutionize Health Care
In 2011, a startup called Avolonte Health set up shop in a small office park in Palo Alto, California. ... Avolonte wasn’t just any health-care company. It was a project of Apple Inc., and its mission came directly from Steve Jobs. Apple’s co-founder and then-chief executive officer, ill with the pancreatic cancer that would take his life near the end of that year, had tasked a group of his key executives to develop a noninvasive blood sugar monitor. (Gurman and Bennett, 11/1)
