Content about Caremark Rx

January 18, 2013

Costco has entered the pharmacy benefit management business, according to published reports.

NEW YORK — Costco has entered the pharmacy benefit management business, according to published reports.

In an article in the January 2013 issue of Costco Connection magazine, the club warehouse retailer is promoting the new PBM, Costco Health Solutions, to small business owners. Pharmaceutical industry consultant Adam Fein noted on his blog, Drug Channels, that Costco was seeking to emulate the tactics already used by CVS Caremark, Walgreens and Walmart to drive prescription growth.

January 18, 2013

Costco's new PBM: It's all about differentiation

Costco announced in its January 2013 magazine that it would begin offering pharmacy benefit management services, targeting small businesses and highlighting a 200-employee company based in Washington state.

It remains to be seen whether the club retailer's efforts to compete with the existing PBM businesses of companies like CVS Caremark, Walgreens and Walmart will be successful, and analysts like Citi's Deborah Weinswig appear skeptical that they will. But whatever the outcome, it's clear that Costco is looking to compete in a bigger way.

January 18, 2013

CVS Caremark issues statement on CMS action related to SilverScript

CVS Caremark has announced that it is working to resolve service issues related to its SilverScript Medicare Part D Prescription Drug Plan.

WOONSOCKET, R.I. — CVS Caremark has announced that it is working to resolve service issues related to its SilverScript Medicare Part D Prescription Drug Plan.

January 18, 2013

CVS Caremark, UFCW announce cooperation agreement in 500 stores

CVS Caremark and the United Food & Commercial Workers have announced that they have signed a cooperation agreement giving CVS/pharmacy employees at approximately 500 stores in the metropolitan Los Angeles, San Francisco, and San Diego areas the opportunity to vote on whether or not they want to be represented by the union.

WOONSOCKET, RI and WASHINGTON, D.C. — CVS Caremark and the United Food & Commercial Workers have announced that they have signed a cooperation agreement giving CVS/pharmacy employees at approximately 500 stores in the metropolitan Los Angeles, San Francisco, and San Diego areas the opportunity to vote on whether or not they want to be represented by the union.

January 15, 2013

CVS Caremark among recipients of NACD New England 2013 Director of the Year Awards

CVS Caremark was named Public Company Board of the Year in the National Association of Corporate Directors New England Chapter’s Seventh Annual 2013 Director of the Year Awards.

BOSTON — CVS Caremark was named Public Company Board of the Year in the National Association of Corporate Directors New England Chapter’s Seventh Annual 2013 Director of the Year Awards.

NACDNE is a source in New England for corporate governance information, education and training for directors and CEOs who are committed to raising standards and improving boardroom performance. Each year, NACDNE recognizes board members and boards from public, private and nonprofit organizations who exemplify the key attributes of outstanding directors.

January 8, 2013

Catamaran CEO sees future opportunities for PBM

Pharmacy benefit manager Catamaran Corp. hopes to expand business with client Cigna Corp. and foresees other opportunities, according to published reports.

NEW YORK — Pharmacy benefit manager Catamaran Corp. hopes to expand business with client Cigna Corp. and foresees other opportunities, according to published reports.

January 3, 2013

CVS Caremark-sponsored research examines impact of social support network on Rx adherence

A patient’s social support network has been associated with improved outcomes and healthier behaviors and now new research sponsored by CVS Caremark has found that practical social support is associated with improved medication adherence.

WOONSOCKET, R.I. — A patient’s social support network has been associated with improved outcomes and healthier behaviors and now new research sponsored by CVS Caremark has found that practical social support is associated with improved medication adherence.

December 27, 2012

CVS Caremark announces final results of tender offers

CVS Caremark has announced the final results of its previously announced cash tender offers commenced on Nov. 26, 2012 of its 6.6% senior notes due 2019 and up to a maximum amount of its 6.125% senior notes due 2016 and 5.75% senior notes due 2017.

WOONSOCKET, R.I. — CVS Caremark has announced the final results of its previously announced cash tender offers commenced on Nov. 26, 2012 of its 6.6% senior notes due 2019 and up to a maximum amount of its 6.125% senior notes due 2016 and 5.75% senior notes due 2017.

The offers expired on Dec. 21, 2012. An aggregate principal amount of about $1.74 billion of notes was tendered.

December 20, 2012

CVS Caremark presents funds raised at 2012 Charity Classic event

Seventy-seven area nonprofit organizations on Wednesday received funds generated from the CVS Caremark Charity Classic at a presentation held at CVS Caremark’s headquarters.

WOONSOCKET, R.I. — Seventy-seven area nonprofit organizations on Wednesday received funds generated from the CVS Caremark Charity Classic at a presentation held at CVS Caremark’s headquarters.

The tournament, Rhode Island’s largest charitable sporting event, raised $1.2 million this year for charities across Southern New England, bringing the total funds raised since its inception to more than $16 million.

December 14, 2012

CVS Caremark's reinvention of pharmacy comes amid intense changes in health care

On Thursday, analysts and CVS Caremark executives gathered in New York City to attend the company’s annual Analyst Day meeting.

CVS Caremark has come a long away from its roots as a go-getting New England-based regional player, and the pharmacy healthcare giant continues to prove the success of its unique integrated model. The role of CVS Caremark — and community pharmacy at large — in today’s healthcare system couldn’t come at a more critical time.

On Thursday, analysts and CVS Caremark executives gathered in New York City to attend the company’s annual Analyst Day meeting.

December 13, 2012

CVS Caremark outlines growth framework at annual Analyst Day meeting

CVS Caremark executives expressed optimism going into 2013 and outlined its strategic growth framework, which leverages the company’s unique integrated model, during its annual Analyst Day held on Thursday in New York City.

WOONSOCKET, R.I. — CVS Caremark executives expressed optimism going into 2013 and outlined its strategic growth framework, which leverages the company’s unique integrated model, during its annual Analyst Day held on Thursday in New York City.

December 10, 2012

CVS Caremark increases size of tender offer amount

WOONSOCKET, R.I. — CVS Caremark has upped the size of its previously announced tender offers to refinance a portion of its debt.

The company stated that it will buy back up to $1.33 billion in notes, up from the previously announced $1 billion.

December 10, 2012

Hawaii business journal reports Walgreens real-estate new-hire

The Pacific Business News on Friday reported Rock Tang, a prominent real estate executive in the Hawaii region, joined Walgreens from CVS Caremark.

HAWAII — The Pacific Business News on Friday reported that a prominent real estate executive in the Hawaii region joined Walgreens from CVS Caremark.

According to the report, Rock Tang, former regional director for real estate in Hawaii for CVS Caremark has been named senior real estate manager at Walgreens. Tang will be in charge of developing new stores around Hawaii and in Northern California.

For the full report, click here.

December 7, 2012

Ready for globalization of drug retailing?

CVS Caremark is looking to acquire an 80% stake in Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

Are you ready for the globalization of drug store retailing? DSN is. And we expect it to continue. Why? That's where the Rx growth is. Expect more of these deals. Where? Follow the money (i.e., emerging markets where Rx growth is still in high single to low double digits).

CVS Caremark is looking to acquire an 80% stake in Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

Are you ready for the globalization of drug store retailing? DSN is. And we expect it to continue. Why? That's where the Rx growth is. Expect more of these deals. Where? Follow the money (i.e., emerging markets where Rx growth is still in high single- to low double-digits).

December 7, 2012

Reports: CVS Caremark looking to acquire drug chain Onofre in Brazil

CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

WOONSOCKET, R.I. — CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

The Valor Economico newspaper reported that CVS Caremark plans to pay $313 million to acquire an 80% stake in Onofre and will also assume the company's debt.

“We don’t comment on market rumors,” CVS Caremark spokesman Mike DeAngelis told Drug Store News.

November 26, 2012

CVS Caremark offers to buy back $1B in senior notes

CVS Caremark announced on Monday that it has commenced tender offers to refinance a portion of its debt.

WOONSOCKET, R.I. — CVS Caremark announced on Monday that it has commenced tender offers to refinance a portion of its debt.

The company has commenced cash tender offers for any and all of the 6.6% senior notes due 2019 and up to a maximum amount of the 6.125% senior notes due 2016 and 5.75% senior notes due 2017 such that the aggregate principal amount of the maximum tender offer notes tendered and accepted for purchase is equal to $1 billion less the aggregate principal amount of the any and all notes tendered and accepted for purchase.

November 19, 2012

CVS/pharmacy, St. Jude Children's Research Hospital partner for annual holiday campaign

CVS/pharmacy on Monday announced its annual in-store fundraiser for the ninth year to support the St. Jude Children's Research Hospital Thanks and Giving campaign, a holiday program that raises awareness and funds for the research and care provided at St. Jude.

WOONSOCKET, R.I. — CVS/pharmacy on Monday announced its annual in-store fundraiser for the ninth year to support the St. Jude Children's Research Hospital Thanks and Giving campaign, a holiday program that raises awareness and funds for the research and care provided at St. Jude.
Since the campaign's inception, CVS/pharmacy and its customers have raised more than $31 million to support St. Jude.

November 16, 2012

CVS Caremark: NACo Rx discount card has saved Americans more than $500M

Residents in counties across the country that participate in the National Association of Counties' Prescription Discount Card Program have saved more than $500 million on their prescription medications since the launch of the program in 2004, according to data released by NACo and CVS Caremark.

WASHINGTON and WOONSOCKET, R.I. — Residents in counties across the country that participate in the National Association of Counties' Prescription Discount Card Program have saved more than $500 million on their prescription medications since the launch of the program in 2004, according to data released by NACo and CVS Caremark.

November 15, 2012

MinuteClinic, UT Medicine San Antonio form clinical affiliation

CVS Caremark’s MinuteClinic and UT Medicine San Antonio, the academic medical practice of the School of Medicine at the University of Texas Health Science Center at San Antonio, have entered into a clinical affiliation to enhance access to healthcare services in the region.

WOONSOCKET, R.I. and SAN ANTONIO — CVS Caremark’s MinuteClinic and UT Medicine San Antonio, the academic medical practice of the School of Medicine at the University of Texas Health Science Center at San Antonio, have entered into a clinical affiliation to enhance access to healthcare services in the region.

November 14, 2012

CVS Caremark pays tribute to disabled military veterans at Gillette Stadium

In recognition of Veterans Day, CVS Caremark paid homage to nearly 50 disabled military veterans from across New England on Nov. 10, treating them to a football skills camp at Gillette Stadium in partnership with the New England Patriots.

WOONSOCKET, R.I. — In recognition of Veterans Day, CVS Caremark paid homage to nearly 50 disabled military veterans from across New England on Nov. 10, treating them to a football skills camp at Gillette Stadium in partnership with the New England Patriots.

The CVS Caremark/New England Patriots Veterans Skills Camp paired Patriots Super Bowl champions with veterans from Rhode Island, Connecticut, Massachusetts and New Hampshire for a day of fun and skills training at Gillette Stadium.

November 12, 2012

Reports: CVS Caremark drops 17 drugs from formulary

The PBM division of CVS Caremark is hoping to get patients to use lower-cost drugs for certain conditions by removing higher-cost drugs from its formulary, according to published reports.

NEW YORK — The PBM division of CVS Caremark is hoping to get patients to use lower-cost drugs for certain conditions by removing higher-cost drugs from its formulary, according to published reports.

The Wall Street Journal reported that CVS Caremark would stop covering 17 drugs starting on Jan. 1, 2013, after removing 30 this year. The drugs include Abbott's Androgel (testosterone gel) for low testosterone, and Pfizer's drug Detrol LA (tolterodine tartrate) for overactive bladder.

November 9, 2012

Loyalty cards explain how three pharmacy operators are bullish around winning the same patient

CVS Caremark reported strong numbers on both the retail and PBM sides of its business — but the real bombshell for analysts on the call was the news that the company has raised its estimate on the number of Express Script patients that CVS feels it can keep from going back to Walgreens.

That's a big boast. But Rite Aid, too, likes its shot to keep the ESI customers who at one time frequented Walgreens' pharmacies to fill their prescriptions. And Walgreens, for its part, reminds analysts that there was a reason those ESI patients were filling their prescriptions in the first place. So the Chicago retailer is confident that they'll be able to entice many of their former patients to return to the pharmacy fold. But in the end, who's really going to capture that coveted ESI patient? Will they stay, or will they go?

WOONSOCKET, R.I. — CVS Caremark reported strong numbers on both the retail and PBM sides of its business — but the real bombshell for analysts on the call was the news that the company has raised its estimate on the number of Express Script patients that CVS feels it can keep from going back to Walgreens.

November 7, 2012

CVS to donate $3 for every flu shot to USO

CVS/pharmacy is using flu shots to support the USO in recognition of Veterans Day.

WOONSOCKET, R.I. — CVS/pharmacy is using flu shots to support the USO in recognition of Veterans Day.

CVS/pharmacy said Wednesday that it would donate $3 to the USO during the week of the holiday, between Nov. 11 and Nov. 17, pledging a minimum donation of $50,000, and up to $100,000. The company said the idea was to remind Americans that a flu shot is the best way to protect against flu.

November 6, 2012

Strong 3Q, ability to retain ESI patients, finds CVS Caremark execs bullish

Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

WOONSOCKET, R.I. — Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

October 31, 2012

CVS Caremark donates more than $100K to Hurricane Sandy relief efforts

VS Caremark announced on Wednesday a donation of more than $100,000 to the American Red Cross National Disaster Relief Fund to provide support to communities that have been affected by Hurricane Sandy.

WOONSOCKET, R.I. — CVS Caremark announced on Wednesday a donation of more than $100,000 to the American Red Cross National Disaster Relief Fund to provide support to communities that have been affected by Hurricane Sandy.

A donation of $50,000 was made from the company's foundation, the CVS Caremark Charitable Trust. In addition, CVS/pharmacy is providing snacks and bottled water valued at more than $50,000 to distribute in communities in New Jersey that were impacted by the hurricane.