Katz sells last of U.S. stores

From the Edmonton Journal:
The Katz Group is selling its remaining 25 Snyders Drug Stores in Minnesota to Walgreens, ending its 11-year foray into the U.S.

A "significant number" of the stores will be closed, and the rest rebranded as Walgreens.

The Katz Group, under current Edmonton Oilers owner Daryl Katz, bought the Minnetonka-based Snyders in 1999 when it had 1,600 employees and 141 company-owned and independent stores in six Midwest states.

There were 55 stores in Minneapolis and St. Paul alone.

But only two years later, Snyders filed for Chapter 11 bankruptcy protection.

It emerged in 2003 with the 80-year-old Snyders name intact, but had to liquidate its Drug Emporium chain. ...more

Pharmacy workers reach deal with Rexall

I realize this article is quite old, but somehow I missed the resolution of this dispute, and thought maybe some of you did as well.

From the Edmonton Journal:
A tentative agreement has been reached between Daryl Katz's Rexall pharmacy group and the union representing 30 specialized pharmacists and pharmacy technicians.

The agreement was hammered out Sunday morning after an all-night marathon bargaining session and helped avert a pending strike set to start this morning. ...more

Pharmacists face Rexall lockout

From the Edmonton Sun:
A potential move by Rexall that would see dozens of highly specialized pharmacists locked out could have negative impacts on the patients they serve, some terminally ill, one expert says.

The Health Sciences Association of Alberta, the organization representing the workers, says the pharmacy giant has applied to the Labour Relations Board to lock out pharmacists and pharmacy technicians working at outpatient pharmacies at the U of A and Royal Alexandra hospitals, following a breakdown in contract negotiations.

Elisabeth Ballermann, HSAA president, says pharmacists working for Rexall have historically been paid on par with their counterparts working for the provincial health board.

However, things turned sour when the non-Rexall employees got a significant pay increase, which Rexall is not prepared to match.

"The message was pretty blunt at the bargaining table that Rexall doesn't feel that they're making enough of a profit. They are, in fact, making a profit, they just don't think they're making a big enough profit," Ballermann said, adding the gap will be in the neighbourhood of $8,000 over two years for workers. ...more

Windsor's independent pharmacists caught in drug war crossfire

From the Windsor Star:
The mural of an old-fashioned, small-town apothecary on the window of Steve Gavrilidis's South Windsor pharmacy reflects the personal service he provides inside -- his best, perhaps only, defence against the rapid expansion of competing national drugstore chains.

Like hundreds of independent pharmacists across the province, Gavrilidis finds himself caught in the crossfire of Ontario's drug war -- the battle for market supremacy being waged between Shoppers Drug Mart and upstart Rexall.

"They're chasing each other and nipping at each other's heels, taking away from guys like me," said Gavrilidis. "Everybody wants a piece of the pie and the pie is getting smaller."
The Pharma Health independent pharmacy has found a niche providing the personal touch. Pharmacist Steve Gavrilidis assists customers in the comfort

Like Burger King and McDonald's at the height of the burger wars, the two drugstore chains are rapidly expanding across the province, acquiring independent outlets and opening new stores in each other's shadows. In Goderich earlier this month, Rexall and Shoppers both opened stores in the span of a week.

"Rexall is out to get Shoppers' market share and that's the bottom line," said retired University of Windsor business professor Alfie Morgan. "It's a competitive battle between two giants." ...more

Rexall testing e-prescription system

From CBC News:
Pharmacy company Rexall said Tuesday that it is testing an "e-prescription" program at selected stores in five Canadian communities.

E-prescribing is a way for doctors to send prescriptions to a drugstore using a computer or a handheld device like a BlackBerry.

"There are proven benefits to the patient from e-prescribing, including the potential to reduce the incidence of medication and dispensing errors due to illegible prescriptions," Dr. Arif Bhimji, president of Alberta's Medicentres, said in a release issued by Rexall.

E-prescribing can cut prescribing errors, dosing errors and harm to patients, Rexall said, citing a study published in the Health Services Research Journal in June 2007. ...more

NHL governors approve sale of Oilers to Edmonton billionaire Daryl Katz

From the Canadian Press:
Canadian pharmacy billionaire Daryl Katz has received the final OK from the National Hockey League to purchase the Edmonton Oilers.

"I am very pleased to have received the Board of Governors' unanimous approval," Katz said in an e-mail to reporters Wednesday. "We look forward to closing the transaction on or before June 30th and gearing up for the coming season."

The league's board also approved the sale of the Tampa Bay Lightning to a group of investors led by Oren Koules and Len Barrie.

The approval of both deals was granted pending the closing of the transactions by the prospective purchasers.

Katz, a reclusive 46-year-old Edmonton resident, took over the Oilers franchise in February after all 34 members of the team's then-ownership group agreed to sell it to him in a C$200-million deal. ...more

Rexall embraces mosaic with Chinese signage

From the Calgary Herald:
Rexall has opened its first bilingual drug store in Alberta in Calgary's Harvest Hills neighbourhood, its second location in Canada with Chinese signage throughout the store.

Also, the company is catering to the large Chinese community in the area by making available prescription drug labels and instructions for those prescriptions in Chinese.

"What we're trying to do here is be part of the community," said Scott Morrow, vice-president operations for Rexall's western division, of the new 10,870-square-foot store on Harvest Hills Boulevard. ...more

Pharmacy tycoon makes new bid for Oilers

From the Globe and Mail:
Rexall Founder and Chairman Daryl Katz has made a new offer to purchase the Edmonton Oilers and related assets. The terms of the offer, which were not publicly disclosed, are being delivered directly to the shareholders of the Edmonton Investors Group.

The offer, according to sources, is for $188-million and the difference this time around is, it appears to have a chance of succeeding. Katz's previous offers for the team had fallen on deaf ears.

Katz's offer was made at the encouragement of a number of significant EIG shareholders over the past six months. In particular, Katz called Cal Nichols, Founding Chairman of the Board of EIG on Thursday morning to outline the terms and conditions of the offer. Nichols said that it was an offer that he would enthusiastically support. ...more

New pharmacy for Welland

Ordinarily, I wouldn't post an article noting the construction of another pharmacy in Canada. However, I was intrigued by this one. Rexall is building a new location in Welland, Ontario. So what's unusual? How about this:

Management at the Rexall Clinic Pharmacy located at 515 King St., has not been told any details about the new store being built just a few hundred metres north.

Isn't this odd? I've heard talk that there has been some friction between some owners of Rexall franchises and their parent company. This article might support that rumour. Has anyone else heard about this?

From the Welland (Ont.) Tribune:
Rexall is bringing one of its new concept drug stores to the corner of King and Lincoln streets.

It was confirmed for The Tribune yesterday by Michelle Lee, media relations manager for Rexall parent company Katz Group Canada.

Until the store is closer to opening Lee said she could not comment any further at this time.

City planner Don Thorpe said a building permit was issued about two weeks ago. ...more

Pricing pinches drugstores

From the Globe and Mail:
Uncertainty lingers about whether generic drug pricing changes in Ontario will hurt Shoppers Drug Mart Corp., but already some rivals are feeling the pain.

Loblaw Cos. Ltd., which has a wide network of pharmacies in its supermarkets, has reported a $10-million hit to its first-quarter operating profit because of the legislative reforms, which lower the price the province pays for generic drugs. Other pharmacies in Ontario are being pinched.

"It has hurt pharmacy tremendously," says Neil Bornstein, owner of a drugstore in Toronto that is part of Langley, B.C.-based Pharmasave Drugs (National) Ltd. "The waters are more muddied than ever ... I can't understand how Loblaw can identify it as a significant hurt and Shoppers not." ...more

Edmonton pharmacy billionaire steps up with surprise offer of $145 million for Oilers

From the National Post:
Edmonton drugstore billionaire Daryl Katz, the reclusive owner of the 1,800-store Katz Group pharmacy empire, has launched a surprise $145-million bid to acquire the Edmonton Oilers.

The all-cash offer by Katz, 45, an Edmonton native and University of Alberta law school grad whom Forbes magazine now ranks among the world's richest men, was made to the 37-member Edmonton Oilers ownership group earlier this week.

Under terms of the offer, disclosed to The Journal late Friday by a source familiar with information shared at the meeting, the Oilers would remain in Edmonton. ...more