ADVFN - Advanced Financial Network.
HOME» NYSE » O » OCR Stock Price » OCR Stock News

Omnicare Share News

 Omnicare Inc. Stock Price
OCR Stock Price
 Omnicare Inc. Stock Chart
OCR Stock Chart
 Omnicare Inc. Stock News
OCR Stock News
 Omnicare Inc. Company Information
OCR Company Information
 Omnicare Inc. Stock Trades
OCR Stock Trades

Walgreen Plans Asset Swap With Omnicare; August Sales Up

DOW JONES NEWSWIRES Walgreen Co. (WAG) said same-store sales rose a less-than-expected 2.1% in August, the third-straight monthly increase, as the nation's largest drug store chain also announced it will exchange most of its long-term care pharmacy business for substantially all of Omnicare Inc.'s (OCR) home-infusion operations. The swap comes as Walgreen determined it couldn't be a relevant enough player in the long-term care business "without significant additional investment." Meanwhile, Omnicare continues to build its drug-distribution business in the face of sharply lower second-quarter earnings and a raft of management changes, including the abrupt retirement of its chief executive. Financial terms weren't disclosed. Meanwhile, Walgreen has been remodeling stores to better appeal to customers, seeking ways to fuel front-end sales that had softened during the downturn. Like other drug stores, its pharmacy department has also faced pressure, as consumers cut back on doctor's visits, opt for generic drugs and buy medications in bulk. But the pharmacy had a strong 5.1% increase in prescription volume last month, one-third due to a calendar shift. Half of Walgreen's overall same-store-sales growth was due to calendar impacts. That prescription growth far outpaced a decline reported Thursday by smaller rival Rite Aid Corp. (RAD). By segment, Walgreen's August same-store sales rose 2.9% at the pharmacy and 0.7% at the front end. Generic drug introductions and lower flu incidence reduced the pharmacy figure by 2.9 percentage points. Analysts had forecast overall same-store sales increasing 2.4%, rising 1.4% at the front end and 2.9% in the pharmacy. Meanwhile, sales for the quarter ended Tuesday rose 7.6% to $16.89 billion as same-store sales increased 1.5%. Analysts polled by Thomson Reuters most recently forecast $16.8 billion. Full results are due Sept. 28. As of Tuesday, Walgreen operated 8,053 locations, including 7,563 drug stores, 566 more than a year ago. Shares of Walgreen and Omnicare were inactive premarket. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Omnicare (OCR)
DateTimeHeadline
03/25/201409:41:12U.S. Hot Stocks: Hot Stocks to Watch
02/19/201409:51:22U.S. Stocks: Hot Stocks to Watch
12/05/201309:04:04U.S. Hot Stocks Futures: Hot Stocks to Watch
11/15/201309:18:03OZ Management LP 3Q 13F: Largest Purchases -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Largest Purchases
11/15/201308:22:24Janus Capital Management 3Q 13F: Holdings As Of -2-
11/15/201308:22:23Janus Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201308:21:52Janus Capital Management 3Q 13F: Largest Purchases -2-
11/15/201308:21:50Janus Capital Management 3Q 13F: Largest Sales
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
04/16/201317:30:14Amgen to Pay $24.9 Million to Settle Kickbacks Allegations
04/16/201317:23:12Amgen to Pay $24.9 Million to Settle U.S. Allegations of Kickbacks
01/30/201309:49:57AmerisourceBergen Signs New Deal With Big Customer PharMerica
06/08/201218:10:09J&J to Record $600 Million Charge in 2Q
06/08/201218:03:22J&J to Record $600 Million Charge Tied to Outstanding Lawsuits
04/25/201217:16:50J&J New CEO: Top Job Is Fixing Over-The-Counter Drug Business
04/13/201214:10:39US Wants To Question Incoming J&J CEO In Kickback Lawsuit

Omnicare and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad