¶ … Forbes Magazine entitled, "In the Pill Box" discusses Walgreen's Drugstore and the challenge that it faces from Pharmacy Benefit Managers (PBM). The article begins by informing the reader of the astronomical growth of the Walgreen's company. The author explains that the company's stock has risen by 3,000% in the past 20 years and that the store plans to have over 7,000 stores by 2010. (Lambert) The article also asserts that the same-store sales increased by 9% in fiscal 2003. (Lambert)
The author contends that although the company is extremely success, there is a threat on the horizon. This threat comes in the form of Pharmacy Benefit Managers who show health organizations and employers how to make prescriptions drugs more cost effective. The article explains that PBM's often encourage these organizations to persuade patients to get long-term prescriptions through the mail instead of going to a pharmacy. Mail order pharmaceuticals are becoming more and more popular with consumers. However Walgreen's fears that this practice will begin to affect their pharmaceutical sales which accounted for 62% of the company's revenues in 2003. (Lambert) Walgreen's fears that if the trend continues their business strategy could be greatly compromised.
The article contends that the power that PBM's have stems...
A good example of this can been seen between New South Wales and Queensland, where two different pieces of legislation would set the standards for the process to include: Building and Construction Industry Security of Payment Act 1999 (for New South Wales) and Building and Construction Industry Security of Payment Act 2002 (for Queensland). This proved problematic, because parties could go through the adjudication process and if they lose,
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