Content about Caremark Rx

WOONSOCKET, R.I. — Marking its eighth consecutive year of dividend increases, CVS Caremark on Tuesday said its board of directors approved a near 43% increase of its quarterly dividend to 12.5 cents per share of common stock.

The dividend is payable Feb. 2 to holders of record on Jan. 21.

At its Analyst Day in October 2010, the company announced that it set a targeted dividend payout ratio of approximately 25% to 30% by 2015, which implied a compounded dividend growth rate of nearly 25% per year.

WHAT IT MEANS AND WHY IT'S IMPORTANT — The news that CVS Caremark has entered an agreement to acquire the Medicare Part D business of Universal American is important on several fronts: Not only will the deal more than double the size of CVS Caremark's Medicare Part D program, but the move also comes just as the first baby boomers turn 65.

(THE NEWS: CVS Caremark acquires Universal American. For the full story, click here)

WOONSOCKET, R.I. — As announced at CVS Caremark's 2010 analyst meeting in October and reported by Drug Store News, the company's retail division is extending its successful ExtraCare loyalty program by officially launching the new ExtraCare Beauty Club, the first-ever beauty club program for the retail pharmacy industry.

CVS/pharmacy is launching the beauty club program during the People's Choice Awards 2011 on CBS at 9 p.m. EST.

WOONSOCKET, R.I. — The industry has a lot to learn in order to determine how to most effectively use electronic communications to improve patient medication adherence, as few studies show how health information technology can be leveraged to motivate patients to take medications as prescribed, according to research sponsored by CVS Caremark.

WOONSOCKET, R.I. — The work of 62 nonprofit organizations in Rhode Island and Massachusetts received a boost with support from funds generated by the 2010 CVS Caremark Charity Classic.

CVS Caremark's chairman and CEO, Tom Ryan, along with PGA Tour Professionals and CVS Caremark Charity Classic co-hosts Billy Andrade and Brad Faxon, presented more than $1.3 million to area charities at the company's customer support center headquarters.

WOONSOCKET, R.I. — CVS Caremark's MinuteClinic has entered into an agreement with the National Patient Safety Foundation to become the nation's first retail clinic provider to implement the Ask Me 3 health literacy program.

MinuteClinic will launch the program in early 2011 in its approximately 500 medical clinics located inside select CVS/pharmacy stores in 26 states and the District of Columbia.

WOONSOCKET, R.I. — MinuteClinic has entered a clinical collaboration in southern Nevada with St. Rose Dominican Hospitals — members of the Catholic Healthcare West system — to enhance healthcare services provided in communities throughout the Las Vegas metropolitan area.

MinuteClinic, which is owned by CVS Caremark, operates six clinics inside CVS locations throughout southern Nevada.


NEW YORK — Walgreens. Costco. CVS Caremark. Rite Aid. H-E-B. Wegmans. Kerr Drug. The list goes on. In all, it was a veritable who’s who of retailing as Drug Store News’ annual Industry 
Issues Summit, which also included a Specialty Pharmacy Roundtable and Diabetes Roundtable, attracted more than 200 attendees — a new attendance record — and featured the most diverse retail panelists to date.


WOONSOCKET, R.I. — CVS Caremark announced on Thursday that it has been awarded pharmacy benefit management and drug therapy management accreditation from URAC, a healthcare accrediting organization that establishes quality standards for the healthcare industry. CVS Caremark previously had received accreditation for PBM and DTM from URAC in 2007.

WOONSOCKET, R.I. The customer care team of CVS Caremark's pharmacy benefit management business earned a silver medal for its customer service by Contact Center World, CVS announced Friday.

WOONSOCKET, R.I. — MinuteClinic, CVS Caremark's network of walk-in medical clinics, was highlighted as a breakthrough innovator in healthcare delivery by the World Economic Forum's Innovative Health Care Delivery Project.

In addition, MinuteClinic president and CVS Caremark SVP and associate chief medical officer Andrew Sussman presented MinuteClinic's approach to care at a World Economic Forum satellite session attended by healthcare experts, regulatory representatives, researchers and other innovators in Montreux, Switzerland, this week.

WOONSOCKET, R.I. In testimony before the Food and Drug Administration on Tuesday, CVS Caremark’s SVP specialty pharmacy operations, Scott Reid, reiterated the company’s support that the FDA implement regulations necessary to approve biogeneric drugs under the Affordable Care Act.