Content about Caremark Rx

January 12, 2011

CVS Caremark's retail-based clinic operator, MinuteClinic, is experiencing exponential gains in utilization and posted a 22% increase in acute visits during the past year, Larry Merlo, CVS Caremark president and COO, told investors Wednesday during the J.P. Morgan Healthcare Conference.

WOONSOCKET, R.I. — CVS Caremark's retail-based clinic operator, MinuteClinic, is experiencing exponential gains in utilization and posted a 22% increase in acute visits during the past year, Larry Merlo, CVS Caremark president and COO, told investors Wednesday during the J.P. Morgan Healthcare Conference.

January 11, 2011

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.

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.

January 10, 2011

The healthcare system needs to find ways to help patients with such complex therapies as chronic heart disease to simplify and centralize their medication management and create a "pharmacy home" to improve medication adherence, according to a new study conducted by researchers from Harvard Medical School, Brigham and Women's Hospital and CVS Caremark.

WOONSOCKET, R.I. — The healthcare system needs to find ways to help patients with such complex therapies as chronic heart disease to simplify and centralize their medication management and create a "pharmacy home" to improve medication adherence, according to a new study conducted by researchers from Harvard Medical School, Brigham and Women's Hospital and CVS Caremark.

January 7, 2011

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.

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)

January 5, 2011



Last month, the American Journal of Managed Care published a review of more than 40 years worth of studies from various medical journals that demonstrated that the best way to improve adherence is to get patients to talk to the store pharmacist; the second-best way is to get them to talk to a nurse before they leave the hospital.


January 5, 2011

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.

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.

January 3, 2011

CVS Caremark is more than doubling the size of its Medicare Part D program by acquiring the Medicare Part D business of Universal American for roughly $1.25 billion.

WOONSOCKET, R.I. — CVS Caremark is more than doubling the size of its Medicare Part D program by acquiring the Medicare Part D business of Universal American for roughly $1.25 billion.

Universal American’s Part D business currently serves about 1.9 million Medicare PDP members, while CVS Caremark serves roughly 1.2 million Medicare PDP members. This reflects current levels of membership and does not include 2011 auto assignment or the results of the annual enrollment period, which ended Dec. 31, 2010.

December 23, 2010

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 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.

December 22, 2010

Pharmacists at a retail pharmacy are the most influential healthcare "voice" in getting patients to take their medications as prescribed, followed by nurses talking with patients as they are discharged from a hospital, according to research sponsored by CVS Caremark.

WOONSOCKET, R.I. — Pharmacists at a retail pharmacy are the most influential healthcare "voice" in getting patients to take their medications as prescribed, followed by nurses talking with patients as they are discharged from a hospital, according to research sponsored by CVS Caremark.

December 21, 2010

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.

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.

December 21, 2010

The CVS Caremark Charitable Trust announced on Tuesday that $3.3 million in grants has been awarded to 72 nonprofit organizations across the country.

WOONSOCKET, R.I. — The CVS Caremark Charitable Trust announced on Tuesday that $3.3 million in grants has been awarded to 72 nonprofit organizations across the country.

About half of these grants align with CVS Caremark All Kids Can, a program focused on making life easier for children with disabilities and for their families. The other half of the grants will provide support for medical services for the underinsured and uninsured.

December 20, 2010

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.

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.

December 16, 2010

A Delaware judge granted Walmart's request for a preliminary injunction on Wednesday and has blocked — for now — CVS Caremark from hiring former Walmart executive Hank Mullany as president of CVS/pharmacy, according to published reports.

WILMINGTON, Del. — A Delaware judge granted Walmart's request for a preliminary injunction on Wednesday and has blocked — for now — CVS Caremark from hiring former Walmart executive Hank Mullany as president of CVS/pharmacy, according to published reports.

Vice chancellor J. Travis Laster scheduled a trial for early March.

December 16, 2010

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.

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.

December 10, 2010

CVS Caremark made headlines when it announced late in the day on Dec. 3 that former Walmart executive Hank Mullany had been named president of CVS/pharmacy. However, the wires were soon abuzz with news that Walmart had filed a lawsuit against CVS to block the hiring of Mullany.

WHAT IT MEANS AND WHY IT'S IMPORTANT — CVS Caremark made headlines when it announced late in the day on Dec. 3 that former Walmart executive Hank Mullany had been named president of CVS/pharmacy. However, the wires were soon abuzz with news that Walmart had filed a lawsuit against CVS to block the hiring of Mullany.

December 7, 2010


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.


December 3, 2010

CVS Caremark announced on Friday that former Walmart North executive Hank Mullany will succeed Larry Merlo as president of CVS/pharmacy. The move is part of the corporate succession plan announced last May in which Tom Ryan will retire as CEO prior to the next annual meeting and Merlo will step up as CEO.

WOONSOCKET, R.I. — CVS Caremark announced on Friday that former Walmart North executive Hank Mullany will succeed Larry Merlo as president of CVS/pharmacy. The move is part of the corporate succession plan announced last May in which Tom Ryan will retire as CEO prior to the next annual meeting and Merlo will step up as CEO.

December 2, 2010

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 ...

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.

November 24, 2010

Most of the newly elected and re-elected Republican members of Congress, Tea Party candidates in particular, vowed to whittle down or repeal healthcare reform once in office, but the healthcare companies that stand to benefit hope to change their minds, as some of their lobbying activities last quarter have shown.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Most of the newly elected and re-elected Republican members of Congress, Tea Party candidates in particular, vowed to whittle down or repeal healthcare reform once in office, but the healthcare companies that stand to benefit hope to change their minds, as some of their lobbying activities last quarter have shown.

(THE NEWS: Report: PhRMA's lobbying efforts total more than $5 million in Q3. For the full story, click here)

November 18, 2010

The customer care team of CVS Caremark's pharmacy benefit management business earned a silver medal...

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.

November 17, 2010

All Kids Can, a program of the CVS Caremark Charitable Trust and VSA, the international...

WASHINGTON All Kids Can, a program of the CVS Caremark Charitable Trust and VSA, the international organization on arts and disability, are kicking off the 2011 All Kids Can Create Call for Art, which invites children ages 5 years to 15 years to explore and share their artistic talents.

November 17, 2010

MinuteClinic, CVS Caremark's network of walk-in medical clinics, was highlighted as a breakthrough innovator in...

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.

November 2, 2010

CVS Caremark announced on Wednesday that third-quarter results were at the higher end of its...

November 1, 2010

In testimony before the Food and Drug Administration on Tuesday, CVS Caremark’s SVP specialty pharmacy...

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.

November 1, 2010

A recent study of diabetes information shared on Facebook raised questions about the accuracy of...

WOONSOCKET, R.I. A recent study of diabetes information shared on Facebook raised questions about the accuracy of the information on social media sites and its sources, according to the research sponsored by CVS Caremark.