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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 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 13, 2012
MinuteClinic recognizes National Nurse Practitioner Week

MinuteClinic is highlighting its support for the education and advancement of clinicians across the country in recognition of National Nurse Practitioner Week, the company said Tuesday.

WOONSOCKET, R.I. — MinuteClinic is highlighting its support for the education and advancement of clinicians across the country in recognition of National Nurse Practitioner Week, the company said Tuesday.

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.

October 24, 2012
MinuteClinic opens first retail-based clinics in Asheville, N.C. market

CVS Caremark’s MinuteClinic has opened three walk-in clinics inside CVS/pharmacy stores in the Asheville, N.C. area, and three additional locations are expected to open by year-end.

WOONSOCKET, R.I. — CVS Caremark’s MinuteClinic has opened three walk-in clinics inside CVS/pharmacy stores in the Asheville, N.C. area, and three additional locations are expected to open by year-end.

The new clinics are located in Arden, Asheville and Hendersonville. Three additional clinics are expected to open by the end of the year in Asheville, Brevard and Waynesville.

October 22, 2012
CVS/pharmacy shares tips to better health in light of new study on benefits of daily vitamins

CVS/pharmacy is encouraging customers to consider making simple lifestyle changes to experience long-term health benefits in light of new findings on the positive effect of daily vitamin regimens released this week by Brigham and Women's Hospital and published in the Journal of the American Medical Association.

WOONSOCKET, R.I. — CVS/pharmacy is encouraging customers to consider making simple lifestyle changes to experience long-term health benefits in light of new findings on the positive effect of daily vitamin regimens released this week by Brigham and Women's Hospital and published in the Journal of the American Medical Association.

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.

October 16, 2012
CVS Caremark reaches RxAmerica civil settlement with U.S. Department of Justice

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.

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.

October 10, 2012
GPhA appoints CVS Caremark public policy director

An executive from CVS Caremark will guide policy for a generic drug industry trade association.

WASHINGTON — An executive from CVS Caremark will guide policy for a generic drug industry trade association.

The Generic Pharmaceutical Association said Wednesday that it had appointed CVS Caremark senior director of public policy Christine Simmon to run its policy shop as SVP policy and strategic alliances, effective Oct. 24. Christine Simmon previously worked for the GPhA as VP policy, public affairs and development from 2002 to 2006.

October 9, 2012
CVS Caremark turns to innovation 
to capture a growing healthcare market

With healthcare reform on track to bring 32 million more Americans into the healthcare system in 2014, and with payers and patients looking for solutions to curb costs as the nation battles a shortage of primary care physicians and access to quality care, CVS Caremark’s role in reinventing pharmacy through its distinctive business model couldn’t be more imperative than it is today.


With healthcare reform on track to bring 32 million more Americans into the healthcare system in 2014, and with payers and patients looking for solutions to curb costs as the nation battles a shortage of primary care physicians and access to quality care, CVS Caremark’s role in reinventing pharmacy through its distinctive business model couldn’t be more imperative than it is today.


October 9, 2012
Flagship programs promote drug adherence

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.


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.


October 9, 2012
Future is healthy for PBM business

Remember back in 2009, when some on Wall Street swore the sky was falling as Caremark came off a tricky selling season? Oh, how times have changed.


Remember back in 2009, when some on Wall Street swore the sky was falling as Caremark came off a tricky selling season? Oh, how times have changed.


“Everything we’ve seen this year demonstrates that CVS is a stable company that is well-positioned to take advantage of growth opportunities in the industry,” stated Barclays Capital analyst Meredith Adler in a recent research note.


October 9, 2012
In-store, online benefits target cardholders

While CVS/pharmacy’s store clustering initiatives and store brands are fueling front-store profitability, there’s no doubt that its successful, long-standing ExtraCare loyalty program remains a key driver of front-store sales, and it arms the company with a powerful competitive advantage, especially as CVS looks to take the program to new heights. 


While CVS/pharmacy’s store clustering initiatives and store brands are fueling front-store profitability, there’s no doubt that its successful, long-standing ExtraCare loyalty program remains a key driver of front-store sales, and it arms the company with a powerful competitive advantage, especially as CVS looks to take the program to new heights. 


October 9, 2012
Integration key to managing specialty patients

Specialty may be the fastest-growing segment, but it may also be the most complicated, as this segment is comprised of very complex medications to treat such serious diseases as cancer, multiple sclerosis and hemophilia.

Specialty may be the fastest-growing segment, but it may also be the most complicated, as this segment is comprised of very complex medications to treat such serious diseases as cancer, multiple sclerosis and hemophilia. The good news for CVS Caremark is, unlike the typical PBM, it can serve specialty patients through multiple touch points that include specialty mail pharmacies, as well as CVS/pharmacy and retail specialty 
pharmacy locations.


October 9, 2012
MinuteClinic expands scope of services

On pace to reach about 1,000 clinic locations by 2016 and a robust team of 1,800 nurse practitioners and physician assistants working tirelessly to provide patients convenient access to quality care, MinuteClinic has demonstrated the integral role that it plays not only within CVS Caremark’s healthcare offering but within the entire U.S. healthcare system.


On pace to reach about 1,000 clinic locations by 2016 and a robust team of 1,800 nurse practitioners and physician assistants working tirelessly to provide patients convenient access to quality care, MinuteClinic has demonstrated the integral role that it plays not only within CVS Caremark’s healthcare offering but within the entire U.S. healthcare system.