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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.

WOONSOCKET, R.I. — CVS/pharmacy on Thursday expanded the role of two retail field executives as SVP operations Dennis Palmer, a 37-year retail veteran, announced his retirement.

Effective Nov. 5, Hanley Wheeler, SVP operations has assumed responsibility of CVS/pharmacy’s Western and Southwestern markets while continuing to have responsibility for the company’s retail operations in its Midwest and Southeast markets.

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.

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.

WOONSOCKET, R.I. — As Hurricane Sandy makes landfall today, CVS/pharmacy has announced that, while complying with any mandatory evacuation orders given by local officials, it is keeping its stores in affected areas open for as long as possible. CVS is also deploying generators throughout affected markets as needed to provide power to key store locations in the event of power outages.

WOONSOCKET, R.I. — CVS Caremark has announced that it has reached a civil settlement with the United States Department of Justice regarding its investigation into certain business practices of a subsidiary of Longs Drug Stores, which began prior to the acquisition of Longs by CVS Caremark in October 2008. 

Pursuant to the settlement agreement, RxAmerica has expressly denied any liability.

With its sights firmly fixed on delivering innovative solutions that address emerging customer needs that no stand-alone PBM or stand-alone retail pharmacy could provide, CVS Caremark is seeing growing interest in its proprietary programs — or integration sweet spots — known as Maintenance Choice and Pharmacy Advisor.


CVS Caremark’s front-store business continues to experience solid performance despite a weak economy — success that can be credited to such factors as a skilled merchandising team, a focus on store brands and a clustering initiative that tailors stores’ merchandise mix based on how the stores are shopped in certain locations.


WOONSOCKET, R.I. — As part of CVS Caremark's sponsorship of The Partnership at Drugfree.org's The Medicine Abuse Project, which aims to prevent a half-million teens from abusing medicine over the next five years, the company now is asking its customers to take the project's pledge to learn about teen medicine abuse, to safeguard medicines in the home and to talk to teens about this issue, the company announced on Monday.

CVS Caremark will use many of its communications channels to share with customers some key facts central to the awareness campaign, such as:

WOONSOCKET, R.I. — The CVS/pharmacy ExtraCare program, which boasts more than 70 million active members, now gives shoppers the ability to earn bigger rewards on most purchases during the peak fall and winter shopping season.

From Sept. 16 through Dec. 15, ExtraCare members can double their quarterly ExtraBucks Rewards by choosing to participate.

WOONSOCKET, R.I. —The CVS Caremark Charitable Trust and CVS/pharmacy have announced a donation of more than $20,000 in support of communities that have been affected by Hurricane Isaac.

The CVS Caremark Charitable Trust has donated $15,000 to the American Red Cross to support relief and recovery efforts. CVS/pharmacy also is providing nearly 1,000 first aid kits and nearly $5,000 in additional financial support to Red Cross shelters across Louisiana and Mississippi.