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Walgreens

With new brick-and-mortars springing up on every corner, Walgreen’s $409 million acquisition of Drugstore.com should come as no real surprise.

Walgreens currently has 7,689 locations throughout the U.S. and does business online at Walgreens.com. Drugstore.com’s purchase price will come from Walgreen’s existing buyout chest, which is well stocked after racking up $67 billion in fiscal sales last year. The acquisition should prove to be a bargain for the retail giant. Not only do they get the holy grail of dotcom names, an average of four million unique web visitors, a thriving affiliate marketing program, and a solid $456.5 million in net sales in 2010, they also get control of Drugstore.com’s associated web sites: Beauty.com, SkinStore.com, and VisionDirect.com. [click to continue…]

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Walgreens Fined $33 million for Prescription Mistake

by Toby Roberts on March 5, 2010

Walgreens lost a recent appeal to overturn a decision that awarded $33 million to the family of a woman who died because of an improperly filled prescription.

In 2002, Beth Hippely was prescribed the blood thinner Warfarin to help treat her breast cancer. The prescription that she was given was approximately 10 times the level prescribed. The jury in the original case found that the mix up was the cause of a cerebral hemorrhage that left her permanently disabled and in physical pain. She later died at the age of 46.

The appeals court upheld the original decision that found Walgreens liable and leveled the large payoff to the family. Walgreens would not comment on the case.

http://www.foxnews.com/story/0,2933,587762,00.html

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Rates Lowered for Electronic Prescriptions

by Toby Roberts on February 17, 2010

Surescripts electronic prescriptions implemented an overall rate reduction for their services in January of this year. The reduction is an attempt to encourage smaller pharmacies and physician groups to use electronic prescription services. The drop is estimated at a 10-15% reduction for smaller independent pharmacies. The amount of the decrease varies slightly depending on the type of software that is being used.

The service is already free for physicians and other prescribers but the company estimates that fewer than 25% of small offices make use of electronic prescriptions. Larger companies with in house IT departments have already made the switch but the majority of prescriptions are written by independent physicians and staffs. [click to continue…]

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