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BUSINESS
July 7, 2000 | Bloomberg News
Bergen Brunswig Corp.'s stock rose for a second consecutive day after the Orange drug wholesaler said it has agreed to sell most of its money-losing specialty-medicine distribution unit to CVS Corp. The shares moved up 23%, or $1.69, to $9. On Wednesday, the stock moved up 26%, or $1.50 a share, on the New York Stock Exchange.
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BUSINESS
June 25, 2002 | Bloomberg News
Walgreen Co.'s third-quarter earnings rose 21% as the largest U.S. drugstore chain added stores and filled more prescriptions. Net income increased to $259 million, or 25 cents a share, from $213.4 million, or 21 cents, a year earlier, Walgreen said. Sales in the quarter ended May 31 rose 17% to $7.4 billion. Walgreen has taken customers from CVS Corp. and Rite Aid Corp., which are struggling to absorb acquisitions, analysts and investors said. The shares of Deerfield, Ill.
BUSINESS
September 24, 2004 | From Bloomberg News
Rite Aid Corp., the No. 3 U.S. drugstore chain, reported an unexpected second-quarter profit of $9.83 million as inventory costs and interest expenses declined. The company broke even on a per-share basis compared with a loss of $10.6 million, or 4 cents, a year earlier, Camp Hill, Pa.-based Rite Aid said. Sales rose 1.8% to $4.12 billion. Shares of Rite Aid, which trails Walgreen Co. and CVS Corp. in sales, fell 18 cents to $3.58 on the NYSE.
BUSINESS
September 19, 2000 | Dow Jones
The nation's largest drugstore chain said Monday that it has completed its acquisition of Bergen Brunswig Corp.'s Stadtlander Pharmacy unit for $124 million. The sale of the Pittsburgh unit of CVS Corp. in Woonsocket, R.I., removes the second of two units that have dragged down the earnings of Bergen, an Orange-based distributor of drugs and medical products. Bergen recently sold its PharMerica unit, a supplier of pharmacy services to nursing homes.
BUSINESS
August 19, 2008 | From Times Wire Services
Longs Drug Stores Corp. recommended in a regulatory filing that shareholders approve its $2.7-billion purchase by CVS Caremark Corp. even as activist investor Bill Ackman hired a firm to explore getting a higher price.
BUSINESS
September 6, 2001 | Bloomberg News
A unit of GlaxoSmithKline, the No. 2 drug maker, has alleged in a lawsuit that smaller rival Accumed Inc. has infringed its patent on Beano, a dietary supplement that helps prevent gas. Glaxo's Jersey City, N.J.-based Block Drug Co. alleges that Accumed sells food enzyme tablets that violate Block's 1995 patent on Beano, an anti-flatulence enzyme also known as alpha-galactosidase. CVS Corp. and Eckerd Corp.
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