Drugstore sales hit by generics
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Drugstores reported unusually weak December sales on Thursday, citing a slow flu season, lower-priced generic drugs and sluggish demand for seasonal items.
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The maker of generic drugs gets sued twice in one week.
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Competition for painkiller patch may prove to be a major pain for the generics maker.
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ORLANDO, Florida  - Wal-Mart Stores Inc. on Thursday said it will expand a program offering generic drugs for $4 per prescription throughout Florida on Friday, and said it may bring the program to other U.S. states by the end of the year.
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Faced with the threat of generic competition, the company focuses its efforts on a new drug.
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Rivals lead to lower sales of the pharmaceutical's only marketed drug.
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Shares dropped as the company forecast a decline in 2008 earnings due to generic competition and weaker sales for its diabetes pill.
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Drugstores CVS/Caremark Corp.  and Rite Aid Corp.  on Thursday posted higher June sales at stores open at least a year, but both chains' pharmacy sales growth was tempered by the introduction of cheaper generic drugs.
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U.S. prescription drug sales rose 8.3 percent to $274 billion last year, fueled by the Medicare drug benefit, increased use of generic medicines and new treatments for diseases such as cancer and diabetes, according to a new report.
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WASHINGTON -- Some influential members of Congress are renewing their pledge to help speed generic versions of the world's most expensive drugs to market.
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Pfizer Inc.  on Wednesday reported lower-than-expected quarterly earnings on competition with generics and a surprisingly big 13 percent decline in sales of its best-selling Lipitor cholesterol fighter.
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The maker of generics releases its third-quarter results with a little time to spare.
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Five nations launched an   initiative on Tuesday to raise at least $300 million next year   to buy generic drugs at steep volume discounts to fight AIDS,   tuberculosis and malaria in developing countries.
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The fight over the lucrative market for rheumatoid arthritis drugs is heating up. In the last five years, three similar drugs have been introduced that offer patients the promise of getting back on their feet. Now the manufacturers of all three are jockeying for market share so they can be the leader when Medicare's full prescription drug benefit takes effect ...
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GlaxoSmithKline PLC reported a 5.8 percent drop in third-quarter net profit Wednesday on strong generic competition and falling sales of its blockbuster diabetes drug in the United States.
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FRIDAY, Sept. 22 (HealthDay News) -- Wal-Mart's announcement that it will begin selling almost 300 generic prescription drugs for as little as $4 for a 30-day supply will undoubtedly benefit many Americans, health industry experts say.
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Annual inflation in drug costs is at the lowest rate in three decades as generic versions of some of the most common drugs have recently come on the market.