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Editorial Results (free)

1. UnitedHealth Ventures Deeper Into Care With Nearly $5B Deal -

The nation's biggest health insurer is spending nearly $5 billion to buy hundreds of clinics, just three days after rival Aetna announced a bigger tie up with CVS Health Corp.

2. Last Word: Visions of Black Helicopters, 'Extreme Body Rot' and Mall Nostalgia -

A happy council day at City Hall to you and yours. I know this is probably a new and foreign tradition to most of you – the twice a month Memphis City Council meetings every other Tuesday. Or maybe you just don't think of the sessions in that way. This time of the year can be pretty mellow – a lull before what is really the biggest season at City Hall – budget season in the spring. But the council will be pretty busy Tuesday.

3. Q&A: $69B Aetna Bid Pushes CVS Deeper Into Consumers' Lives -

A drugstore chain that used to hawk cigarettes behind the front counter now wants to offer nutrition advice and work with your doctor to keep you healthy.

CVS Health says it wants to use its roughly $69 billion acquisition of the insurer Aetna to dive deeper into managing customer health, with its nearly 10,000 stores becoming "front doors" for care. The companies plan to expand the health services offered through CVS locations and get more involved in helping patients stay on their medicines or manage their chronic conditions.

4. Memphis Professionals React to CVS-Aetna Deal -

News coverage in the immediate aftermath of the announcement that drugstore giant CVS Health plans to buy health insurer Aetna for $69 billion focused on how it will change the country’s health care industry in a significant way. But much is still unclear.

5. Luttrell Says Administration Will Intervene in Commission's Opioid Litigation -

Shelby County Chancellor Jim Kyle left no doubt in his ruling Tuesday, Nov. 14, about who was correct between county mayor Mark Luttrell and the county commission over opioid abuse litigation in Circuit Court.

6. Opioid Lawsuit Filed as County Dispute on Legal Action Goes to Court -

UPDATE: Shelby County Chancellor Jim Kyle ruled Tuesday, Nov. 14, that the Shelby County Commission overstepped its role and powers within county government when the commission hired a law firm and had its own attorney file a lawsuit in Circuit Court against pharmaceutical companies over opioid abuse.

7. CVS Bulks Up Delivery Service; Tops 3Q Earnings Expectations -

CVS Health is cranking up prescription deliveries to customer homes or workplaces, as the drugstore chain tries to squeeze more of an edge from a massive store network that puts 70 percent of the U.S. population within three miles of one of its locations.

8. Express Scripts to Limit Opioids; Doctors Concerned -

ST. LOUIS (AP) – The nation's largest pharmacy benefit manager will soon limit the number and strength of opioid drugs prescribed to first-time users as part of a wide-ranging effort to curb an epidemic affecting millions of Americans.

9. Fred’s Brings on New Board Members -

Change continues to be the operative word at Memphis-based retailer Fred’s Inc., which has made some key additions to its board in recent days as the company continues pursuing a major turnaround that includes completing its acquisition of 865 Rite Aid stores.

10. Company Announces Pause for Drug After Price Criticism -

WASHINGTON (AP) – Marathon Pharmaceuticals announced Monday that it will temporarily halt the rollout of a drug to treat genetic muscle deterioration just hours after two members of Congress expressed outrage that the company planned to charge $89,000 a year for a drug that's widely available abroad for about $1,000 a year.

11. St. Jude Expansion Looks East of Campus -

The city’s plan for the Pinch District between the Pyramid and St. Jude Children’s Research Hospital isn’t the only reason the city will seek expanded uses of the Tourism Development Zone and an expansion of a Tax Increment Financing district.

12. New Details of St. Jude Expansion Look to Medical Corridors To The East -

The city’s plans for the Pinch District between the Pyramid and St. Jude Children’s Research Hospital are only half of the plan the city will seek expanded uses of the Tourism Development Zone and an expansion of a Tax Increment Financing district for.

13. New Details of St. Jude Expansion Look to Medical Corridors To The East -

The city’s plans for the Pinch District between the Pyramid and St. Jude Children’s Research Hospital are only half of the plan the city will seek expanded uses of the Tourism Development Zone and an expansion of a Tax Increment Financing district for.

14. Analyst: Rite Aid Buy ‘Good Deal’ for Fred’s -

Memphis-based Fred’s Inc. got a “really good deal” on the 865 Rite Aid stores it’s agreed to buy for $950 million in a deal that takes the company beyond its core market and marks a significant new chapter in its story.

15. $950M Deal Would Make Fred's No. 3 Nationwide -

Memphis-based Fred’s Inc. has agreed to buy 865 Rite Aid stores from Walgreens Boots Alliance Inc. and Rite Aid Corp. for $950 million, which will make Fred's the third-largest drugstore chain nationwide.

16. Analyst: Fred’s May Be in Talks To Sell -

Memphis-based pharmacy operator and retailer fred’s Inc. was still keeping quiet at press time about the “pending transaction” that led the company to take the unusual step of declining to allow questions from analysts following its earnings presentation Dec. 8.

17. CVS Health's 3Q Profit Jumps, But Revenue Disappoints -

CVS Health Corp. missed Wall Street's revenue expectations in the third quarter, despite sales jumping due to acquisitions. The company trimmed its profit forecast for this year, triggering a stock selloff.

18. CVS Health Corp. to Cut 600 Employees in Corporate Offices -

WOONSOCKET, R.I. (AP) – CVS Health has announced that it is letting go of about 600 employees as it streamlines operations.

The layoffs this month and next mostly affect corporate offices in three states. The Woonsocket, Rhode Island-based company employs more than 240,000 people nationwide.

19. Unhappy Target Customers Send Strong Message on Pill Bottles -

Longtime customers of Target's pharmacies are finding a change in pill bottle design hard to swallow.

After CVS began operating Target's drugstores earlier this year, distraught customers have been asking – in some cases begging – the drugstore chain to bring back the retailer's red prescription bottles, which came with color-coded rings, labeling on the top and prescription information that was easier to read.

20. Fred’s Undergoing Changes After Disappointing Financial Results -

The second quarter has not been kind to retail stocks. Among almost 90 percent of retail companies that reported second-quarter earnings as of Aug. 24, just 3.9 percent surpassed estimates, according to Zacks Investment Research, and barely 4 percent posted higher year-over-year revenue.

21. As US Puts Breaks on Megadeals, Walgreens Prepares to Unload -

Walgreens believes that it will probably have to unload more stores than expected to ease antitrust concerns over its pending, $9.41 billion acquisition of Rite Aid, a deal that would make the nation's largest drugstore chain even larger.

22. Fred’s Names New CEO, Reports Q2 Net Loss -

Memphis-based discount retailer Fred’s Inc. has named Mike Bloom its new chief executive officer.

23. Fred's Names New CEO, Reports Disappointing Q2 Results -

Memphis-based discount retailer Fred’s Inc. has named Mike Bloom its new chief executive officer.

24. Snapshot: How Memphis-Based Public Companies are Faring -

Acquisitions have been a common theme among many Memphis-based public companies the past few quarters. Here is a roundup of those transactions and other business highlights from each of the companies.

25. Fred’s Set for Rebound in 2016 -

Twenty-four years ago this month, Memphis-based discount retailer Fred’s Inc. went public.Today, for a variety of reasons that include Fred’s ongoing shot at a turnaround, the company finds itself in a period of unprecedented change.

26. D1 Sports Training Facility Sells for $4.1 Million -

85 Market Center Drive
Collierville, TN 38107

Sale Amount: $4.1 million

Sale Date: Nov. 5, 2015

27. Collierville Pharmacy Boasts Long List of Accreditations -

Collierville-based Benevere Pharmacy is a privately owned specialty pharmacy that now boasts an uncommonly extensive set of independent accreditations most chain drug stores can’t match.

The pharmacy, which serves patients, prescribers, health care organizations, payers and pharmaceutical manufacturers, has recently been approved for specialty pharmacy accreditation by URAC. That’s a leading nonprofit that accredits health care organizations in addition to focusing on education and measurement programs.

28. CVS Health Launches Health, Beauty Makeover for Drugstores -

CVS drugstores that quit tobacco sales last year are now getting health and beauty makeovers and a shot of ethnic diversity in some cases to attract customers who want more than a prescription refill.

29. Target Selling Pharmacy, Clinic Businesses to CVS Health -

Target will sell its pharmacy and clinic businesses to CVS Health in the latest twist behind a push from big retailers to become all things to all customers.

The nation's second-largest drugstore chain will pay about $1.9 billion to run Target's in-store health operations and expand what they offer for customers who have come to expect that they will be able to fill a prescription when they shop at Target.

30. Small-Town Shift -

Fred’s Inc. CEO Jerry A. Shore has been thinking bigger and smaller simultaneously.

“One of my key strategies after being named CEO was to upgrade talent,” said Shore, who had been the company’s CFO for more than 14 years before changing corporate hats a few months ago.

31. Flurry of Fred’s News Includes Fourth-Quarter Loss -

Fred’s Inc. reported a fourth-quarter loss Thursday, March 26, the day after announcing a major acquisition to its pharmacy network as well as the addition of several new executives.

Fred's Inc. booked an $8.2 million loss in the quarter ended Jan. 31 as a rise in expenses countered a small sales gain.

32. Rite Aid to Pay $2B for EnvisionRx -

Rite Aid is expanding from running drugstores into managing pharmacy benefits with a planned, $2 billion purchase of EnvisionRx.

The company said it will pay about $1.8 billion in cash and $200 million in stock for EnvisionRx, a pharmacy benefit manager, or PBM, owned by the investment firm TPG.

33. Rite Aid to Pay $2 Billion for Pharmacy Benefit Manager -

Rite Aid is expanding from running drugstores into managing pharmacy benefits with a planned, $2 billion purchase of EnvisionRx.

The company said it will pay about $1.8 billion in cash and $200 million in stock for EnvisionRx, a pharmacy benefit manager, owned by the investment firm TPG.

34. Wal-Mart Plans 1-Stop Health Coverage Shopping -

Wal-Mart is taking one-stop shopping to another area: health insurance.

The world's largest retailer plans to work with DirectHealth.com, an online health insurance comparison site and agency, to allow shoppers to compare coverage options and enroll in Medicare plans or the public exchange plans created under the Affordable Care Act.

35. More Stores, Walk-In Clinics Offering Vaccines and Shots -

Pull up to a local Walgreens and you may be immediately presented with a shot menu: flu, shingles, pneumonia and other options. Theoretically, in one trip to the drugstore you can knock out your flu shot, pick up some ice cream, bread or beer, maybe grab a birthday card for your mother-in-law, and be on your way.

36. Drugstores, Retailers Dive Deeper Into Vaccines -

Walgreen provided enough flu shots last season to protect a population roughly twice the size of Los Angeles.

CVS doled out more than 5 million, or double its total from a few years ago. And Wal-Mart, the world's largest retailer, offers flu shots at more than 4,200 of its U.S. stores that have pharmacies.

37. CVS Changes Name, Stops Tobacco Sales Early -

As CVS sharpens its focus on customer health, the nation's second-largest drugstore chain will tweak its corporate name and stop the sale of tobacco nearly a month sooner than planned.

CVS Caremark said it will now be known as CVS Health, effective immediately. The signs on its roughly 7,700 drugstores won't change, so the change may not register with shoppers.

38. Pharmacy Sales Boost Major Drugstores in June -

A jump in pharmacy revenue fueled June sales growth for two of the nation's largest drugstore chains, and they may start adding gains from the health care overhaul later this year.

Walgreen Co. and Rite Aid Corp. said Thursday that pharmacy revenue from their established stores climbed more than 11 percent at Walgreen and 5 percent at Rite Aid last month. Walgreen runs the nation's largest drugstore chain with 8,215 stores, while Rite Aid ranks third with 4,754. The company in the middle, CVS Caremark Corp., doesn't report monthly results.

39. Wellness Programs Grow More Popular With Employers -

That little voice nagging you to put down the cake and lace up the running shoes is increasingly coming from your employer and is likely to grow louder with a looming change under the federal health care overhaul.

40. CVS Caremark Plans to Stop Tobacco Products Sales -

CVS, the nation's second-largest drugstore chain, is kicking the habit of selling tobacco products as it continues to shift its focus toward being more of a health care provider.

The company said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1 in its 7,600 stores nationwide, in a move that will help grow its business that works with doctors, hospitals and others to improve customers' health.

41. Health Coverage -

The Little Clinic is opening its sixth and seventh limited-care clinics in the Memphis area this month as part of a growth plan that includes 30 new Little Clinics opening in Kroger stores in 2013.

42. Walgreen Clinics Expand Care Into Chronic Illness -

Walgreen Co. has stretched the reach of its drugstore clinics beyond treating ankle sprains and sinus infections to handling chronic diseases such as diabetes, asthma and high blood pressure.

43. Walgreen, Express Scripts Sign New Agreement -

The Walgreen pharmacy chain will begin filling prescriptions from customers in the Express Scripts network again starting in September under a new multiyear contract that ends a costly impasse between the companies.

44. Walgreen, Other Pharmacies Form Nationwide Network -

Walgreen Co. and some independent drugstores are investing in a nationwide push to give pharmacists a chance to work more with patients to improve care and cut costs.

45. CVS Caremark Q4 Profit Rises, 2012 Outlook Climbs -

Drugstore chain Walgreen's loss of a big client is turning into rival CVS Caremark's gain so far this year.

A contract squabble between Walgreen Co. and pharmacy benefits manager Express Scripts Inc. has driven more customers to CVS pharmacies, prompting that company to raise its 2012 earnings forecast by 3 cents per share.

46. CVS Caremark Buys Medicare Part D Biz -

Health Net Inc. said Monday it will sell its Medicare Part D stand-alone prescription drug business to CVS Caremark for $160 million.

47. CVS Caremark Rises on 2012 Profit Forecast -

WOONSOCKET, R.I. (AP) – Shares of CVS Caremark Corp. rose Tuesday after the company said it expects that profit at its Caremark pharmacy benefits management business will grow in 2012, reversing two years of declines.

48. Express Scripts, Medco Pare Lobbying in Q3 -

NEW YORK (AP) – Pharmacy benefits managers Medco Health Solutions Inc. and Express Scripts Inc. lobbied the government to approve their proposed $29.1 billion merger, but cut back on their total lobbying expenses in the third quarter.

49. CVS Caremark Pares Q3 Lobbying Costs to $2.2M -

NEW YORK (AP) – CVS Caremark Corp. cut back on its lobbying expenditures in the third quarter, but still spent $2.2 million as it discussed issues including prescription drug costs and pharmacy benefits management laws with the federal government.

50. CVS Caremark Q3 Profit Rises 7 Percent -

WOONSOCKET, R.I. (AP) – CVS Caremark Corp.'s third-quarter earnings climbed 7 percent, as a long-term contract and acquisition boosted the pharmacy network claims it processed.

51. Former CVS CEO Will Work With Private Equity Firm -

NEW YORK (AP) – Private equity firm Advent International said Thursday that former CVS Caremark Corp. Chairman and CEO Thomas Ryan will advise it on retail and health care investment opportunities.

52. Medco, Express Scripts Pare Combined Q2 Lobbying -

NEW YORK (AP) – Pharmacy benefits managers Medco Health Solutions Inc. and Express Scripts Inc., which have agreed to combine, trimmed their lobbying costs to $940,000 in the second quarter.

53. Walgreen Fiscal 4th-Qtr Profit Jumps 69 Percent -

INDIANAPOLIS (AP) – Drugstore operator Walgreen Co. said Tuesday its fiscal fourth-quarter earnings jumped 69 percent, boosted in part by a gain from the $525-million sale of its pharmacy benefits management business.

54. CVS Will Give $6M in Flu Shots to the Uninsured -

WOONSOCKET, R.I. (AP) – CVS Caremark Corp. said Monday, Sept. 12, it will give away up to $6 million in seasonal flu shots to people who don't have health insurance.

55. Walgreen Says Express Scripts Talks are Stalled -

NEW YORK (AP) – Drugstore chain Walgreen Co. reiterated Tuesday that it plans to stop filling prescriptions managed by Express Scripts Inc. on Jan. 1, saying contract renewal negotiations between the companies are stalled.

56. Health Plan Rules: What Counts as an Emergency? -

When is an emergency not an emergency? In health care, that can be a costly distinction.

Emergency rooms are designed to live up to their names by treating life-threatening or serious medical problems. But they often handle much more than that, sometimes at great cost to patients.

57. CVS Caremark Q2 Profit Slips 1 Percent -

NEW YORK (AP) – CVS Caremark said Thursday its profit slipped 1 percent in the second quarter as its pharmacy benefits management business weathered lower prices on contract renewals.

The Woonsocket, R.I., company said Caremark faced lower prices related to contract renewals. The most significant of those was its retail pharmacy contract with the Federal Employee Health Benefit Program, which the company renewed in the third quarter of 2010. While those renewals cut into its profit, total revenue for CVS Caremark rose 10.9 percent to $14.57 billion as the company began a new 12-year contract with Aetna Inc. and acquired Universal American Corp.'s Medicare Part D business.

58. Walgreen Says it Will Split With Express Scripts -

NEW YORK (AP) – Walgreen Co. said that it is willing to walk away from more than $5 billion in annual revenue because pharmacy benefits manager Express Scripts doesn't pay it enough to fill prescriptions.

59. CVS Caremark Spent $2.2M on Lobbying in Q1 -

NEW YORK (AP) – Drugstore operator and pharmacy benefits manager CVS Caremark Corp. spent $2.2 million in the first quarter as it lobbied the federal government on issues related to health care reform and its business model.

60. Moody's Compares PBMs, Backs CVS Caremark -

NEW YORK (AP) – Moody's Investor's Service maintained a positive view of the largest U.S. pharmacy benefits managers Tuesday, saying it has the highest opinion of CVS Caremark Corp.

61. Accredo Parent Company Loses $3B Contract to CVS -

Medco Health Solutions Inc. said that after this year, it will lose a contract that brought it about $3 billion in annual revenue.

62. Rich Spend, Others Scrimp, Retail Reports Show -

NEW YORK (AP) – High gas prices are driving a wider wedge between the wealthy and everybody else.

The rich are back to pre-recession-style splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and they're paying full price.

63. Walgreen to Spend About $429M for Drugstore.com -

NEW YORK (AP) – Drugstore operator Walgreen Co. said Thursday it will spend about $429 million to buy online retailer drugstore.com in a deal that gives it access to 3 million online customers.

64. Walgreen Selling Pharmacy Benefits Ops for $525M -

NEW YORK (AP) – Walgreen Co. said Wednesday it is leaving the pharmacy benefits management business, selling that operation to Catalyst Health Solutions Inc. for $525 million in cash and freeing it to focus on its drugstore network, the largest in the United States.

65. Civil Rights Complaint Against CVS May Go Forward -

The Rhode Island Commission for Human Rights is allowing a civil rights complaint over an online job application used by CVS Caremark Corp. to go forward, saying there is probable cause to believe the pharmacy chain violated state anti-discrimination laws.

66. CVS Caremark 4Q Profit Falls 2 Percent -

NEW YORK (AP) – Drugstore chain and pharmacy benefits manager CVS Caremark Corp. said Thursday that its profit fell 2 percent in the fourth quarter on lower revenue because of client losses and fewer Medicare prescription drug program members.

67. EMHC Moving to Appling Farms, Doubling in Size -

Emergency Mobile Health Care is more than doubling the size of its Memphis corporate headquarters.

EMHC has signed a 14,200-square-foot lease at 6972 Appling Farms Parkway. EMHC currently occupies 6,900 square feet at 5071 Wilfong Road, and also has an office in Jackson, Tenn.

68. CVS Caremark Profit Falls 21 Percent in Q3 -

WOONSOCKET, R.I. (AP) – CVS Caremark Corp. reported a 21 percent drop in third-quarter profit Wednesday as its pharmacy benefit unit continued losing business from previously canceled contracts.

69. State Fines CVS Pharmacies for Violations -

CVS Pharmacy, which was already in trouble with state regulators in Nevada and California for failing to properly monitor sales of over-the-counter drugs and ingredients for crystal meth, has now been fined by the state of Tennessee for not adhering to safeguards against doctor-shopping for controlled substances.

70. Walgreen Approves $1B Stock Repurchase Plan -

DEERFIELD, Ill. (AP) – Drugstore chain Walgreen Co. said Wednesday it approved the repurchase of up to $1 billion in stock through the end of 2012.

71. Council Redo On MCS Funding -

Memphis City Council members gave final approval Tuesday to a trio of pet ordinances, a new set of rules for false alarms, an amended Midtown overlay and approved a CVS pharmacy near the University of Memphis.

72. 'Extremely Depressed' -

Ask the owners and operators of the largest commercial construction firms in the Memphis area how things are going these days, and it’s hard to get a response that is not pessimistic.

“Extremely depressed,” said Henry Haizlip, owner and vice president of Grinder-Haizlip Construction Co. Inc., which was founded in 1992 and provides general construction services to commercial, industrial and manufacturing industries in the Mid-South area. “And that is not a light statement.”

73. Galloway Gardens Apartments Sells for $1.1 Million -

1565 Galloway Ave.
Memphis, TN 38112
Sale Amount: $1.1 Million

Sale Date: Aug. 27, 2010
Buyer: Galloway Gardens LLC
Seller: Steve Benetti and Virginia Benetti
Loan Amounts: $200,000; $200,000; $916,937 (assumption)
Loan Date: Aug. 27, 2010
Maturity Dates: Aug. 27, 2011 ($200,000); Sept. 15, 2015 ($200,000); Sept. 10, 2013 ($916,937)
Lender: Regions Bank

74. Midtown CVS Approved By Council -

Memphis City Council member approved a CVS drug store at Union Ave and Cooper St. on a 10-2 vote that followed a two hour debate.

The council also approved an amendment calling on the developers of the store to get as close as they can in their plans to requirements of the advisory Midtown overlay. The two exceptions to that are restrictions on a drive through window for the pharmacy and how far from the street the building can be.

75. Gill Enterprises Sells Land to CVS for Cordova Pharmacy -

786 N. Germantown Parkway
Cordova, TN 38018
Sale Amount: $2.2 Million

Sale Date: July 28, 2010
Buyer: CVS 6628 TN LLC
Seller: Gill Enterprises GP

76. CVS Caremark Q4 Profit Grows 11 Percent -

NEW YORK (AP) - CVS Caremark Corp., one of the nation's biggest drugstore operators, said Monday its profit rose 11 percent in the fourth quarter as results improved for its pharmacy benefits management business.

77. CVS Caremark Q3 Profit Up But Loses Big Contracts -

NEW YORK (AP) - CVS Caremark disclosed more multibillion dollar contract losses in its pharmacy benefits management business and said the head of the unit will depart.

CEO Tom Ryan said CVS, which also runs the nation's second-biggest drug store chain, won't reach its goals in 2010 because of the sharp reversal of fortunes at the Caremark unit, which administers drug benefits for employers. CVS shares plunged 20 percent.

78. Walgreen Q4 Profit Falls, But Results Top Forecast -

NEW YORK (AP) - Drugstore operator Walgreen Co. said prescription drug sales rose in the fiscal fourth quarter, pushing the company's results past Wall Street expectations and lifting shares to an annual high.

79. Drug Industry, Pfizer Lead in Health Lobbying -

WASHINGTON (AP) - The drug industry's trade group and one of the nation's biggest pharmaceutical companies reported spending more money than other health care organizations on lobbying in the second quarter of this year.

80. Dodd's Wife Serves on Health Care Company Boards -

WASHINGTON (AP) - The wife of a senator playing a lead role on a national health care overhaul sits on the boards of four health care companies, one of several examples of lawmakers with ties to the medical industry.