Walgreen (NYSE: WAG) sued for overcharging for generics

Tallahassee, FL 1/13/12 (StreetBeat) -- A union benefits fund filed a class action suit Wednesday, accusing Walgreen Co (NYSE: WAG) and generic drug maker Par Pharmaceutical Cos Inc of overcharging for various generic drugs in a bid to boost profits.

The complaint, filed by the United Food and Commercial Workers Unions and Employers Midwest Health and Pension Fund, alleges that Walgreen, the largest U.S. drugstore chain, violated federal racketeering laws.

"Starting April 1999 through December, 2006, Par and Walgreen conspired to increase their profit through at least two schemes to illegally fill prescriptions with Par's higher-priced products rather than the specific drugs prescribed by physicians," the complaint alleged.

The drugs involved included generic versions of antidepressant drug Prozac and anti-heartburn drug Zantac, the complaint said.

Neither company could immediately be reached for comment outside U.S. business hours.

The case is In re: United Food and Commercial Workers Unions and Employers Midwest Health Benefits Fund vs. Walgreen Co., U.S. District Court for Northern District of Illinois, No. 12-CV-00204.

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LargeCap Stocks to Keep an Eye on Today

Tomahawk, WI 9/27/2011 (PennyPayDay) – KEYW Holding shares are plunging 17.5% to $8.25 in premarket trading Tuesday after the cybersecurity services firm disclosed the loss of a systems integration contract to a competitor.

"While the award of the Aura contract to a competitor is disappointing, we continue to see abundant opportunities for continued high growth," said Leonard Moodispaw, the company's president and CEO, in a statement.

Progress Software is expected by analysts to report third-quarter earnings of 29 cents a share, down from year-earlier earnings of 37 cents.

Shares were rising 5.4% to $20 in premarket trading.

Airline shares were rising as Ticonderoga Securities lifted its third-quarter earnings outlook for the airline sector. Improved revenue and lower fuel costs were among the reasons cited for the move.

AMR was gaining 3.5% to $3.58; U.S. Airways was rising 1.1% to $6.50; and Delta Air Lines was ahead by 1.5% to $8.42.

Drugstore chain Walgreen reported fourth-quarter profit of 57 cents a share vs. the average analyst estimate of 55 cents.

Shares were rising 2.9% to $37.07 in premarket trading Tuesday.

Electronic manufacturing services company Jabil Circuit is expected by analysts to post fourth-quarter earnings of 56 cents a share after the markets close Tuesday vs. 52 cents a year ago. Shares were rising 2.8% to $17.20.

Goldman Sachs is preparing to expand cost-cutting by hundreds of millions of dollars, a move that could lead to additional job cuts, The New York Times reported.

Shares were rising 1.7% to $100.82.

Organic chemical products company Huntsman said its Textile Effects division plans to undergo "significant" restructuring, including the possible closure of its production facilities and business support offices in Basel, Switzerland, as part of an ongoing program aimed at improving its long-term competitiveness.

Shares were up 0.3% to $10.70.

Management consulting firm Accenture is expected to report fourth-quarter earnings of 88 cents a share, compared with year-earlier earnings of 66 cents.

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LargeCap Stocks to Keep an Eye on Today

Tomahawk, WI 9/6/2011 (PennyPayDay) – Shares of Telefonica were tumbling 4.3% to $19.09 in premarket trading Tuesday as the Spanish phone company folded its domestic operations into its European unit and reorganized regional heads of operations.

KLA-Tencor shares were falling 3.2% to $33.70 after the provider of machinery used in the semiconductor industry was cut to underperform from sector perform at RBC.

Electronic payment company Verifone Systems is expected after markets close Tuesday to report third-quarter earnings of 46 cents a share vs. 36 cents a share a year ago.

Shares were down 1.9% to $34.13.

Drugstore chain Walgreen said same-store sales increased 5.6% in August.

Shares were down 1.7% to $34.18.

Chipmaker Altera is expected Tuesday to report third-quarter profit of 63 cents a share vs. 69 cents a share the same time last year.

Shares were falling 1.5% to $34.22.

PepsiCo, the maker of Gatorade and Frito-Lay snacks, is set to announce a 10-year extension of its sponsorship deal with the National Football League that could be valued at $2.3 billion, The Wall Street Journal reported.

Shares were down 1.3% to $62.50.

Starbucks plans to triple the number of its coffee shops in China during the next four years, according to the company's Asia Pacific president.

Shares were falling 1.3% to $37.

Sunoco said Tuesday it plans to exit its refining business and will record a pretax charge of between $1.9 billion and $2.2 billion in the third quarter.

Shares were rising 1.1% to $36.50.

AES announced that the power company's CEO Paul Hanrahan plans to leave the company on Nov. 30 and step down from his position effective Sept. 30.

He will hand over his management and board responsibilities to AES' chief operating officer, Andrés Gluski.

Fairchild Semiconductor cut its third-quarter sales guidance to $400 million to $410 million from previous guidance of $433 million to $446 million.

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PNI Digital Media (OTC:PNDMF) Lands Deal with Walgreens

Oxford, MS 7/28/2011 (PennyPayDay) -- PNI Digital Media (OTC:PNDMF) announced recently, in a press release, that it has entered into an agreement with Walgreen Co. (NYSE:WAG) to provide and operate an online stationery service for Walgreens. The service will allow Walgreens customers to create and customize unique cards, invitations and other printed material.

PNI Digital Media operates the PNI Digital Media Platform, which provides transaction processing and order routing services for major retailers. The PNI Digital Media Platform connects consumer-ordered digital content, whether from online, in-store kiosks, desktop software or mobile phones, with retailers that have on-demand manufacturing capabilities for the production of personalized products such as photos, photo books and calendars, business cards and stationery. PNI Digital Media successfully generates millions of transactions each year for retailers and their thousands of locations worldwide.

Further information on our company can be found at www.pnimedia.com.

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TheraBiogen Announced Deal with Miami Heat and Walgreens Back in February

Oxford, MS 3/31/2011 (Penny PayDay) – Back in February, TheraBiogen, Inc. (OTC:TRAB) announced, in a press release, that it has entered into a partnership with the Miami HEAT and South Florida Walgreens. Shares of TheraBiogen closed yesterday at $0.99 per share and average just over 9,000 shares traded per day. The company has a market cap of $38 million and a 52-week range between $0.40 and $1.80 per share.

According to the press release, through a relationship with JumpStart, Inc., TheraMax was chosen as an official partner of a program between the Miami HEAT and Walgreens. The program will encompass product sales and promotions in Walgreens pharmacies in South Florida as well as joint promotion on select Miami HEAT advertising and marketing assets.

According to the press release, TheraBiogen has been selling TheraMax Cold & Flu Relief and TheraMax Allergy Relief since the beginning of the 2010 Fall Season for cold and flu relief. TheraMax products are homeopathic nasal sprays that do not contain zinc.

“We are very excited to team up with the HEAT and Walgreens on this opportunity,” said Kelly Hickel, CEO of TheraBiogen, Inc. “This will make more consumers aware of our products and provide an important product to Walgreens customers. As we expand our presence in South Florida Walgreens, we expect to see the same great support from consumers that we have seen since our national launch in October of last year.”

TheraBiogen is the manufacturer and distributor of homeopathic nasal sprays for aiding in the relief of allergies and cold and flu symptoms. The products are made from natural, homeopathic ingredients and contain no zinc.

For further information please visit www.theramaxrelief.com.

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