Parkinson's Disease Tulip


advertisement
Reply
 
Thread Tools Display Modes
Old 12-30-2006, 09:16 AM #1
Stitcher's Avatar
Stitcher Stitcher is offline
Magnate
 
Join Date: Aug 2006
Posts: 2,136
15 yr Member
Stitcher Stitcher is offline
Magnate
Stitcher's Avatar
 
Join Date: Aug 2006
Posts: 2,136
15 yr Member
Default Boost Driven by Medicare Drug Plan, Sales of Generics

Isn't it nice to know that those of us using Medicare Part D have been so kind to the Pharmacy industry!!


Walgreen's Profit Climbs 25%
Boost Driven by Medicare Drug Plan, Sales of Generics


By Josh Fineman
Bloomberg News
Saturday, December 23, 2006; Page D02
http://www.washingtonpost.com/wp-dyn...122201321.html

Walgreen, the largest U.S. drugstore retailer, said yesterday that profit rose 25 percent as the government's new Medicare drug plan and generic medicines boosted sales.

Fiscal first-quarter profit climbed to a record $431.7 million, beating the average estimate of 15 analysts surveyed by Bloomberg. Profit was $345.6 million a year earlier, Walgreen said in a statement.

Revenue for the three months ended Nov. 30 jumped 17 percent, to $12.71 billion, the biggest increase in three years, as the Medicare plan that began in January attracted senior citizens. More profitable generic versions of best-selling medicines such as the Zocor cholesterol treatment have boosted sales at Deerfield, Ill.-based Walgreen and competitors, including CVS.

"Medicare is driving prescription sales higher," said Don Gher, chief investment officer at Coldstream Capital Management in Bellevue, Wash., with more than $1 billion in assets including Walgreen shares.

Shares of Walgreen closed 72 cents, or 1.6 percent, higher at $46.68 yesterday. The stock has climbed 5.5 percent this year, compared with an 18 percent increase for CVS, the second-biggest U.S. drugstore chain, and a 61 percent rise for Rite Aid, the third largest.

Walgreen, CVS and Rite Aid have faced increased competition from Wal-Mart since September, when the world's largest retailer announced it would offer a month's supply of some generic prescriptions for $4.

"While the last several months have brought plenty of speculation about the effects of $4 generic drugs and industry acquisitions, we've shown with these results what our core drugstore business is capable of doing," Rick Hans, Walgreen's director of finance, said in a pre-recorded conference call.

"We'll never lack strong competitors, new retail concepts and more regulation. But we've thrived despite those issues, and we feel more confident about our future than ever before," he said.
__________________
You're alive. Do something. The directive in life, the moral imperative was so uncomplicated. It could be expressed in single words, not complete sentences. It sounded like this: Look. Listen. Choose. Act. ~~Barbara Hall

I long to accomplish a great and noble tasks, but it is my chief duty to accomplish humble tasks as though they were great and noble. The world is moved along, not only by the mighty shoves of its heroes, but also by the aggregate of the tiny pushes of each honest worker. ~~Helen Keller
Stitcher is offline   Reply With QuoteReply With Quote

advertisement
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
USA: Medicare and You / Part D Prescription Plan Stitcher Parkinson's Disease 1 11-04-2007 10:43 PM
MED Schools Warn of Drug Sales Pitches - Forbes lou_lou Parkinson's Disease 1 11-02-2006 08:00 PM
New Medicare wheelchair plan could hurt Pride BobbyB ALS 0 09-15-2006 07:38 AM


All times are GMT -5. The time now is 03:33 PM.

Powered by vBulletin • Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.

vBulletin Optimisation provided by vB Optimise v2.7.1 (Lite) - vBulletin Mods & Addons Copyright © 2024 DragonByte Technologies Ltd.
 

NeuroTalk Forums

Helping support those with neurological and related conditions.

 

The material on this site is for informational purposes only,
and is not a substitute for medical advice, diagnosis or treatment
provided by a qualified health care provider.


Always consult your doctor before trying anything you read here.