CVS Plans to Overhaul How Much Drugs Cost at WSJ. “CVS’s roughly 9,500 retail pharmacies will get reimbursed by pharmacy-benefit managers and other payers based on the amount that CVS paid for the drugs, in addition to a limited markup and a flat fee to cover the services involved in handling and dispensing the prescriptions. Today, pharmacies are generally paid using complex measures that aren’t directly based on what they spent to purchase specific drugs.” WSJ subs.
…CVS aims to make pharmacy reimbursement process more transparent at Yahoo Finance. “CVS’ new drug reimbursement model looks similar to that of Mark Cuban Cost Plus Drug Company, an online pharmacy launched by the billionaire which aims to drive down the cost of drugs broadly by selling them at a 15% markup over its cost, plus pharmacy fees.” Read more
AutoZone 1st Quarter Domestic Same Store Sales Increase 1.2% Press release
Care Bears And Other Classic Toys Are Back In Vogue, Sparking ‘Fist Fights’ Over Licensing Rights at Forbes. “While a major licensing agreement might have cost $100,000 a few years ago, that same deal might now cost $500,000 to $1 million, said Jonathan Cathey, CEO of Loyal Subjects…He said he’s seen royalty rates rise from 6% or 8% to 12% or higher in some cases.” Read more
J.Jill, Inc. Q3 total net sales down 0.1% Press release
Amazon offers students $25 flights home for the holidays at NY Post. “The first-of-its-kind promotion kicks off at 9 a.m. EST on Tuesday and continues at 3 a.m. EST on Wednesday and Thursday for travel between mid-December and early January. Over three days, 3,000 $25 tickets will be available — with 1,000 tickets dropping each day.” Read more
Walmart tech vet, AI2 research scientists are behind new Seattle startup Spiffy at GeekWire
Macy’s security guard stabbed to death by man who returned 15 minutes after trying to steal hats at NY Post. “Macy’s has faced one of the highest rates of retail theft in City Center (Philly), police said. It’s located right across the street from City Hall. Year-to-date the store has reported more than 250 thefts, Stanford said.” Read more
Eli Lilly’s obesity drug now available in U.S. pharmacies at Reuters
Mastercard launches Shopping Muse, an AI-powered shopping assistant at TechCrunch. “Although fashion is the first use case for Mastercard’s new tool, the company says this technology could extend into other categories, like furniture and grocery.” Read more
Howard University renovates affordable-housing ‘jewel’ with Amazon money at Washington Post. “Amazon’s Housing Equity Fund underwrote the renovation with a $31.3 million low-interest loan, officials said…invests in such housing to counter fears that the megacorporation’s presence in the D.C. area will drive up home prices and displace lower-income families.” Tiered subs.
FTC Chair Lina Khan defends her track record when it comes to blocking mergers and doesn’t subscribe to Amazon Prime at CNBC
Uber launches ‘Store Pickup’ feature for those last-minute holiday shoppers at The Verge. “The item has to be less than $200 and weigh less than 30 lbs — so there are some limitations to what Uber will allow… And customers can track the item live in the Uber app.” Read more
23andMe confirms hackers stole ancestry data on 6.9 million users at TechCrunch
Family calls for Amazon to make changes after delivery driver picks up dog at Fox 5 Atlanta. “Ferranti searched the internet and discovered others claimed their pets were taken by Amazon drivers. So she started a Facebook group called Amazon Took My Pet. It’s a collection of newspaper and television stories from across the country…” Read more