UPDATE 3-Shoppers Drug Mart says generic pricing to hit 2013 same-store sales

Thu Apr 25, 2013 6:14pm EDT
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* Sees "several impacts" of generic pricing in second quarter

* Sees 2013 pharmacy same-store at the lower end of prior outlook

* Revenue rises 4 percent in the first quarter

* Same-store sales up 2.5 pct in the period

By Krithika Krishnamurthy

April 25 (Reuters) - Shoppers Drug Mart Corp, Canada's biggest pharmacy chain, said tightened pricing controls for generic drugs will push its 2013 pharmacy same-store sales outlook to the lower end of its previous guidance.

The company had previously forecast pharmacy same-store sales growth of between 1.5 percent to 2.5 percent for 2013.

Canada's provinces and territories agreed in January to tighten caps on prices of six widely prescribed generic drugs to cut costs for private and government health programs.

Saskatchewan Premier Brad Wall then told Reuters that more could be done to cut the cost of generics, among the highest in the world.   Continued...