Drug Store Industry Alerts | May 2011

Personnel Updates:

The Little Clinic has announced the appointment of Kenneth Patric as its new Chief Medical Officer, providing medical oversight and management, and overseeing the development and implementation, of new clinical programs and initiatives for The Little Clinic on a national level.

Rite Aid's Senior VP Category Management Tony Montini has been promoted to Exec VP Merchandising.

Financial Focus:

McKesson Corp. reported fiscal 2010 sales of $112.08 billion.

Mergers and Acquisitions:

Walgreens will acquire online retailer Drugstore.com in a deal valued at about $409 million and slated to close by the end of June. Walgreen will acquire Drugstore.com's namesake website as well as other online brands including Beauty.com and SkinStore.com.

Walgreens is acquiring the assets of 10 Carle RxExpress pharmacies in east central IL from The Carle Foundation, an Urbana, IL-based not-for-profit parent company of an integrated network.