Mail-Order Drugs Bite Into Rite Aid Sales
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Drugstore chain Rite Aid Corp. RAD.N  on Tuesday warned that full-year profit and revenue would fall  short of expectations as it loses pharmacy sales to mail-order  rivals, sending its shares down 16 percent.
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Rite Aid offers slow sales and minuscule shareholder rewards. What's to love?
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Los Angeles Times - WASHINGTON &#8212; Canada might soon prohibit pharmacies from selling prescription drugs to mail-order customers &#8212; a move that would cut off a market that is increasingly popular with U.S. seniors eager to take advantage of Canadian price controls that make drugs there far cheaper than at home.
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The F.D.A. has begun to crack down on the thousands of drugs, often made by small companies, that have never had to go through the agencyâs stringent approval process.
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The Bush administration said yesterday that commercial importation of some low-cost prescription drugs from Canada might be feasible, but the savings to consumers
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Rite Aid Corp. , the No. 3 U.S.  drugstore chain, on Thursday said first-quarter profit fell, as  higher sales were not enough to offset spending on new  drugstores.
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A senior United States drug official last night said he believed at least another five medicines at present on sale needed further scrutiny in the wake of recent health scares.
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Pharmacy chain operator Rite Aid Corp.  on Thursday posted a quarterly loss, compared with a profit in the same year-earlier quarter, and cut its full-year outlook, citing worse-than-expected sales.
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The medical device and drug maker credited strong sales of its migraine and Crohnâs disease treatments.
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Walgreen Co. (WAG.N: Quote, Profile, Research) , the top US drugstore chain, on Tuesday reported higher October sales, but growth at rival Rite Aid Corp.
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For the first time in many European countries, nonprescription drugs are being sold over the counter at outlets other than pharmacies.
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Rite Aid Corp. , which last week  said it would buy the Eckerd and Brooks drugstore chains for  about $2.6 billion, on Tuesday said it is on track to meet this  year's profit and sales forecasts.
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Americans wanting to buy many common  cold medicines would have to go to a drug store and ask the  pharmacist under legislation introduced on Wednesday aimed at  fighting the spread of the illegal stimulant methamphetamine.
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Rite Aid and other pharmacies are losing sales because many large healthcare companies have raised their rates by up to $125 a month recently, and they refuse to fill some drug orders unless an illness is considered life-threatening.
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Eager dieters snapped up all the packages of alli at dozens of Walgreen Co. stores yesterday, providing a sneak peek at how the nation's only federally approved over-the-counter diet pill would be greeted today, the first day of nationwide sales. "It's a product they've been waiting for," said Carol Hively , a spokeswoman for the drugstore chain.
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The Food and Drug Administration gave the go-ahead last week for the Philips HeartStart, an automated external defibrillator (AED), to be sold over the counter without a prescription.
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Drugstore chain Rite Aid Corp. RAD.N  on Tuesday warned that full-year profit and revenue would fall  short of Wall Street expectations because of slowing pharmacy  sales as companies try to curb health-care costs.