Shoppers Drug Mart on buying spree

Shoppers Drug Mart Corp. (TSX:SC) has been on a buying spree and says more acquisitions are on the way in the next six months as Canada’s largest pharmacy operator moves to increase its market share by buying up independent pharmacies.

TORONTO — Shoppers Drug Mart Corp. (TSX:SC) has been on a buying spree and says more acquisitions are on the way in the next six months as Canada’s largest pharmacy operator moves to increase its market share by buying up independent pharmacies.

The Toronto-based chain reported Tuesday a weaker third-quarter profit as its bottom line continues to be hit by the impact of generic drug reform in several provinces. Still, it said it is using the opportunity to takeover smaller stores that are even more vulnerable because of the changes. Shoppers Drug Mart — which has 1,363 locations across the country — acquired 21 drug stores in the third quarter, 19 of which were from Paragon Pharmacies Ltd.

Just Posted

Red Deer wants no repeat of Calgary Stampede deaths

North American Pony Chuckwagon Championship

Central Alberta firefighters’ wildfire expertise recognized

Clearwater County Regional Fire Services chosen to create crack firefighting unit

Amazon Prime Day kind of ho hum for local retailers

E-commerce giant Prime Day sale runs Monday and Tuesday

Innisfail woman facing fraud charges

RCMP allege woman stole more than $54,000

Visitors flock to Bluebird Festival

Annual festival takes place east of Blackfalds

Chavis’ grand slam helps Red Sox beat Blue Jays 10-8

BOSTON — Rookie Michael Chavis hit a grand slam, Xander Bogaerts had… Continue reading

Group wants charges in horse deaths during Calgary Stampede chuckwagon races

CALGARY — An animal welfare group is renewing its call for cruelty… Continue reading

Cannabis producer Organigram Holdings Inc. reports $10.2M third-quarter loss

Organigram Holdings Inc. reported a third-quarter loss as revenue slipped amid lower… Continue reading

Churches jump into action with threat of immigration sweeps

CHICAGO — As a nationwide immigration crackdown loomed, religious leaders across the… Continue reading

Some in GOP rebuke Trump, but party leaders still silent

WASHINGTON — Top Republicans remained largely silent after President Donald Trump said… Continue reading

You don’t feel alientated, Trudeau tells western Canadians

National unity is not being threatened by the federal government’s attack on… Continue reading

Final blast of torrential rains unleashed by weakened Barry

NEW ORLEANS — Tropical Depression Barry spared New Orleans from catastrophic flooding,… Continue reading

Evidence erased by police would have freed wrongfully convicted man: defence lawyer

HALIFAX — A defence lawyer who fought to free Glen Assoun from… Continue reading

Most Read