Content about In re Caremark International Inc. Derivative Litigation

April 26, 2013
CVS Caremark stresses proper management, disposal of meds in light of study on teen Rx abuse

With National Drug Take Back Day scheduled for April 27 and in light of a new national study revealing that 1-out-of-4 teenagers has misused or abused a prescription medication at least once, CVS Caremark is reminding families that proper management, storage and disposal of their medication can reduce access to drugs by young people in their homes.

WOONSOCKET, R.I. — With National Drug Take Back Day scheduled for April 27 and in light of a new national study revealing that 1-out-of-4 teenagers has misused or abused a prescription medication at least once, CVS Caremark is reminding families that proper management, storage and disposal of their medication can reduce access to drugs by young people in their homes.

April 1, 2013
CVS Caremark elects former J&J CEO to board

CVS Caremark elected on March 29 former Johnson & Johnson CEO William Weldon to serve on its board of directors, according to a filing with the Securities and Exchange Commission.

WOONSOCKET, R.I. — CVS Caremark elected on March 29 former Johnson & Johnson CEO William Weldon to serve on its board of directors, according to a filing with the Securities and Exchange Commission.

Weldon is the former chairman of the board and CEO of Johnson & Johnson, having served in those positions from 2002 until his retirement as CEO in April 2012 and his retirement from the board in December 2012. Weldon previously served in a variety of senior executive positions during his 41-year career with J&J.

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.  

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.
 

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. 

October 18, 2012
CVS Caremark names EVP specialty pharmacy

CVS Caremark announced on Thursday the appointment of Alan Lotvin to the position of EVP specialty pharmacy.

WOONSOCKET, R.I. — CVS Caremark announced on Thursday the appointment of Alan Lotvin to the position of EVP specialty pharmacy.

Lotvin has extensive experience in the pharmacy benefit management and specialty pharmacy industries. Prior to joining CVS Caremark, Lotvin was president and CEO of Icore Healthcare, a Magellan Health Services company. Previously, he has held roles as president and COO of M|C Communications, a medical education provider, and served in various senior management positions at Medco Health Solutions, including president of specialty pharmacy services.

September 17, 2012
CVS Caremark names EVP, general counsel

CVS Caremark has appointed Thomas Moriarty as EVP and general counsel of CVS Caremark.

WOONSOCKET, R.I. — CVS Caremark has appointed Thomas Moriarty as EVP and general counsel of CVS Caremark.

Moriarty most recently served as general counsel at the Celgene, a biopharmaceutical company, where he was responsible for global legal strategy and served on the company's management committee. Prior to that, Moriarty was general counsel and corporate secretary at Medco Health Solutions.

July 5, 2012
CVS Caremark board OKs quarterly dividend

CVS Caremark announced on Thursday that its board of directors has approved a quarterly dividend.

WOONSOCKET, R.I. — CVS Caremark announced on Thursday that its board of directors has approved a quarterly dividend.

The board approved a quarterly dividend of 16.25 cents per share on the common stock of the corporation, payable Aug. 3 to holders of record on July 23.
 

June 27, 2012
CVS Caremark names new CIO

CVS Caremark has announced the appointment of Stephen Gold as CIO.

WOONSOCKET, R.I. — CVS Caremark has announced the appointment of Stephen Gold as CIO. 

Gold, who joins CVS Caremark on July 9, will focus on bringing new and differentiating technology solutions to the company's retail and pharmacy benefit management businesses.

May 24, 2012
Report: CVS Caremark to contribute billions to Michigan economy

CVS Caremark released on Thursday a report showing that the company's Michigan operations directly and indirectly contributed more than $520 million to the state's gross domestic product in 2011 and, over the next 10 years, is projected to grow into the billions.

WOONSOCKET, R.I. — CVS Caremark released on Thursday a report showing that the company's Michigan operations directly and indirectly contributed more than $520 million to the state's gross domestic product in 2011 and, over the next 10 years, is projected to grow into the billions.

May 10, 2012
CVS Caremark annual stockholders meeting rings optimistic tone

It was a rainy Thursday morning in Woonsocket, R.I., but that didn’t dissuade CVS Caremark stockholders from flocking to the company’s sprawling headquarters to attend its annual meeting of stockholders — an event that proved to be one filled with optimism as president and CEO Larry Merlo provided key highlights of 2011 and discussed how the company is reinventing pharmacy and capitalizing on its “integration sweet spots.”

WOONSOCKET, R.I. — It was a rainy Thursday morning in Woonsocket, R.I., but that didn’t dissuade CVS Caremark stockholders from flocking to the company’s sprawling headquarters to attend its annual meeting of stockholders — an event that proved to be one filled with optimism as president and CEO Larry Merlo provided key highlights of 2011 and discussed how the company is reinventing pharmacy and capitalizing on its “integration sweet spots.”

May 10, 2012
CVS Caremark releases 2011 corporate social responsibility report

CVS Caremark announced on Tuesday the release of its 2011 corporate social responsibility report.

WOONSOCKET, R.I. — CVS Caremark announced on Tuesday the release of its 2011 corporate social responsibility report.

March 30, 2012
CVS Caremark announces PBM succession plan

CVS Caremark outlined succession plans for its pharmacy benefit management business as EVP and COO Jon Roberts will assume the role of president of the PBM business, effective Sept. 1.

WOONSOCKET, R.I. — CVS Caremark outlined succession plans for its pharmacy benefit management business as EVP and COO Jon Roberts will assume the role of president of the PBM business, effective Sept. 1.

March 29, 2012
CVS Caremark to highlight commitment to older Americans at American Society on Aging Conference

CVS Caremark is showcasing how it is helping aging “boomers” on their path to better health and its senior-focused initiatives at Aging in America, the 2012 Annual Conference of the American Society on Aging, which is being held in Washington, D.C., this week.

WOONSOCKET, R.I. — CVS Caremark is showcasing how it is helping aging “boomers” on their path to better health and its senior-focused initiatives at Aging in America, the 2012 Annual Conference of the American Society on Aging, which is being held in Washington, D.C., this week.

January 12, 2012
FTC ends investigation of CVS Caremark

CVS Caremark announced on Thursday that the Federal Trade Commission has concluded its investigation into the company’s business practices.

WOONSOCKET, R.I. — CVS Caremark announced on Thursday that the Federal Trade Commission has concluded its investigation into the company’s business practices.

November 10, 2011
CVS Caremark sponsors employment program for veterans, military spouses

CVS Caremark has announced that it will be joining first lady Michelle Obama and the U.S. Chamber of Commerce at the fourth annual "Business Steps Up: Hiring our Heroes" event to be held Thursday in Washington, D.C.

WOONSOCKET, R.I. — CVS Caremark has announced that it will be joining first lady Michelle Obama and the U.S. Chamber of Commerce at the fourth annual "Business Steps Up: Hiring our Heroes" event to be held Thursday in Washington, D.C.

November 7, 2011
CVS' Eileen Howard Boone elected to Easter Seals' international board

Easter Seals has elected CVS Caremark SVP corporate communications and community relations Eileen Howard Boone to its international board of directors on Monday during its annual convention in Washington, D.C.

CHICAGO — Easter Seals has elected CVS Caremark SVP corporate communications and community relations Eileen Howard Boone to its international board of directors on Monday during its annual convention in Washington, D.C.

Boone has served as an honorary member of Easter Seals' international board of directors for the past year.

October 13, 2011
CVS Caremark, Hispanic Heritage Foundation partner to inspire future Latino healthcare leaders

CVS Caremark has partnered with the Hispanic Heritage Foundation to identify, inspire and prepare young Latinos to join healthcare fields through a new healthcare category of the HHF Youth Awards program.

WOONSOCKET, R.I., and WASHINGTON — CVS Caremark has partnered with the Hispanic Heritage Foundation to identify, inspire and prepare young Latinos to join healthcare fields through a new healthcare category of the HHF Youth Awards program.

August 23, 2011
CVS Caremark announces receipt of requisite consents, termination of replacement capital covenant, expiration of consent solicitation

CVS Caremark has announced the results of its previously announced solicitation of consents from the registered holders as of 5 p.m. Eastern time on Aug. 8 of its 6.125% senior notes due Aug. 15, 2016, to terminate the replacement capital covenant.

WOONSOCKET, R.I. — CVS Caremark has announced the results of its previously announced solicitation of consents from the registered holders as of 5 p.m. Eastern time on Aug. 8 of its 6.125% senior notes due Aug. 15, 2016, to terminate the replacement capital covenant — which was entered into on May 25, 2007 — for the benefit of the holders of the notes in connection with the issuance of its 6.302% enhanced capital advantaged preferred securities due 2062.

July 29, 2011
Merlo to Senate committee: Lowering corporate tax rate can help reduce healthcare costs, bolster economy

Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.

WASHINGTON — Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.

July 28, 2011
CVS Caremark invests in Easter Seals' Make the First Five Count initiative

CVS Caremark, through its All Kids Can program, has partnered with Easter Seals over the past six years to support children at risk of autism, developmental delays or disabilities. CVS Caremark is continuing its support by investing in Easter Seals' Make the First Five Count initiative to help assure children receive critical early intervention services.

CHICAGO — CVS Caremark, through its All Kids Can program, has partnered with Easter Seals over the past six years to support children at risk of autism, developmental delays or disabilities. CVS Caremark is continuing its support by investing in Easter Seals' Make the First Five Count initiative to help assure children receive critical early intervention services.

May 31, 2011
CVS Caremark lands PBM contract with FEP

In a major win for its pharmacy benefit management business, CVS Caremark will handle the $3 billion mail-order and specialty prescription drug benefit for the Federal Employee Program starting January 2012, which, for the last three years, had been handled by rival Medco Health Solutions.

WOONSOCKET, R.I. — In a major win for its pharmacy benefit management business, CVS Caremark will handle the $3 billion mail-order and specialty prescription drug benefit for the Federal Employee Program starting January 2012, which, for the last three years, had been handled by rival Medco Health Solutions.

May 6, 2011
Merlo lets everyone know why PBM isn't going anywhere

With all the talk among the investment community and press about what CVS Caremark should do with its PBM business, it really comes as little surprise that president and CEO Larry Merlo hit the topic head on during Thursday's first-quarter conference call — insisting that there are no plans to split the company.

WHAT IT MEANS AND WHY IT'S IMPORTANT — With all the talk among the investment community and press about what CVS Caremark should do with its PBM business, it really comes as little surprise that president and CEO Larry Merlo hit the topic head on during Thursday's first-quarter conference call — insisting that there are no plans to split the company.

(THE NEWS: CVS off to ‘good start,’ Merlo says; company committed to PBM biz. For the full story, click here)

April 4, 2011
Drew Crawford takes helm at Benecard PBF

Former Caremark Rx executive Drew Crawford has been appointed president and CEO of Benecard PBF, an administrator of prescription benefits and services to public and private plan sponsors.

ORLANDO, Fla. — Former Caremark Rx executive Drew Crawford has been appointed president and CEO of Benecard PBF, an administrator of prescription benefits and services to public and private plan sponsors.

Crawford is a former member of the executive management of Caremark Rx and is the son of Mac Crawford, who served as chairman, president and CEO of Caremark Rx and also is the former chairman of CVS Caremark.

March 15, 2011
CVS Caremark's charitable arm donates funds to support relief efforts in Japan

The CVS Caremark Charitable Trust has announced the donation of $100,000 to the American Red Cross in support of relief efforts under way in Japan following last week's tragic earthquake and tsunami, with a potential total donation of up to $300,000 through the matching of CVS Caremark employee donations.

WOONSOCKET, R.I. — The CVS Caremark Charitable Trust has announced the donation of $100,000 to the American Red Cross in support of relief efforts under way in Japan following last week's tragic earthquake and tsunami, with a potential total donation of up to $300,000 through the matching of CVS Caremark employee donations.