Walgreens, ExpressRX To Buy Bankrupt Fred’s Pharmacy Assets For About $16.4M
Walgreens is looking to pay about $9.4M for pharmacy inventory from Fred’s, while ExpressX wants to buy nonpharmaceutical inventory and take over several leases. Other health and retail news is on Sam's Club starting a health care pilot program, rising drug prices, and Ranitidine recalls.
The Wall Street Journal:
Discount Retailer Fred’s Strikes Deals To Sell More Pharmacy Assets
Discount retailer Fred’s Inc. has reached two separate deals to sell some of its pharmacy assets, including 10 drugstores and inventory, to Walgreens Boots Alliance Inc. and ExpressRx Co. for a total of about $16.4 million. Walgreens is looking to buy pharmacy inventory from Fred’s for about $9.4 million, according to a filing Thursday in the U.S. Bankruptcy Court in Wilmington, Del. ExpressRx has agreed to purchase 10 Fred’s pharmacies for about $7 million. (Al-Muslim, 9/26)
Seattle Times:
Seattle Startup 98point6 Puts Medical AI To Work With Sam’s Club
Walmart’s Sam’s Club announced a pilot program Thursday in partnership with Seattle-based telehealth startup 98point6 and health-care company Humana to offer affordable health-care services to its members. Early next month, Sam’s club members in Michigan, Pennsylvania and North Carolina can buy one of four bundles ranging from $50 to $240 annually to access primary care, alternative medicine, optical, and dental services for up to six family members. The program later may expand to members in other states, according to a Sam’s Club news release. (Hellmann, 9/26)
POLITICO Pro:
Sticker Prices On Some Drugs Continue To Soar Despite State, Federal Efforts
Sticker prices for drugs ranging from chemotherapy medications to Viagra have soared since 2017 despite state and federal efforts to lower pharmaceutical costs, according to the first public release of historical data required by a recent California drug price transparency law. The data provides the first-ever national pricing snapshot for brand-name and generic drugs that saw significant price spikes, drug experts said. (Hart, 9/26)
Miami Herald:
Ranitidine Recall At Walmart, Walgreens And Rite Aid
For the second time this week, a drug manufacturer has recalled several lots of Ranitidine for too much NDMA, which laboratory tests have classified as a probable cancer-causing ingredient. But unlike Sandoz’s recall of Ranitidine capsules, Apotex’s recall of all sizes of 75 mg and 150 mg Ranitidine Hydrochloride Tablets names its retailers: the house brands of Walmart, Walgreens and Rite Aid. (Neal, 9/26)
