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Shoppers Drug Mart and Jean Coutu may feel the heat from U.S.
Posted on June 24, 2008
He already had a sell rating on shares of Shoppers Drug Mart Corp., but a deal last week that appears to signal a U.S. health care player s push up north gave Octagon Capital analyst Robert Gibson even more reason to be bearish on Canada s largest pharmacy chain.On June 19, health care logistics provider McKesson Canada, a division of San Francisco-based McKesson Corp., announced that it is buying Quebec-based Group PharmEssor Inc., which consists of 270 independently-owned pharmacies in Quebec, Ontario and the Atlantic provinces. The chain operates under the Proxim and ProxiMed bran...
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