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March 9, 2011
CVS Caremark declares quarterly dividend

CVS Caremark's board of directors has approved a quarterly dividend of 12.5 cents per share.

WOONSOCKET, R.I. — CVS Caremark's board of directors has approved a quarterly dividend of 12.5 cents per share.

The dividend is payable May 3 to holders of record on April 22, the company noted.

March 9, 2011
Survey: NACo Rx discount cardholders save bundles

Patients that participated in a prescription discount card program created by the National Association of Counties saved more than $107 million on their medications in 2010, a new survey released by CVS Caremark and NACo found.

WOONSOCKET, R.I., and WASHINGTON —  Patients that participated in a prescription discount card program created by the National Association of Counties saved more than $107 million on their medications in 2010, a new survey released by CVS Caremark and NACo found.

What's more, CVS Caremark and NACo noted, the average discount per prescription was about 24%.

March 3, 2011
Spring sports physicals now available at MinuteClinic

MinuteClinic announced that it is offering spring sports physicals at its facilities across the country to make it easier and more affordable for children and teenagers to head to the field and participate in organized sports.

WOONSOCKET, R.I. — MinuteClinic announced that it is offering spring sports physicals at its facilities across the country to make it easier and more affordable for children and teenagers to head to the field and participate in organized sports.

Beginning March 1 to 31, MinuteClinic will offer the pre-participation physicals, which are required by many states, school systems and athletic leagues. MinuteClinic nurse practitioners and physician assistants will offer the exams seven days a week, including weekday evenings. No appointment is necessary.

March 2, 2011
CVS Caremark to utilize ActiveHealth CareEngine for PBM customers

CVS Caremark has inked a three-year agreement with ActiveHealth Management, an independent subsidiary of Aetna, under which CVS Caremark will apply the evidence-based, clinical intelligence of the ActiveHealth CareEngine to healthcare claims for its PBM customers to identify opportunities for improved pharmacy care.

NEW YORK and WOONSOCKET, R.I. — CVS Caremark has inked a three-year agreement with ActiveHealth Management, an independent subsidiary of Aetna, under which CVS Caremark will apply the evidence-based, clinical intelligence of the ActiveHealth CareEngine to healthcare claims for its PBM customers to identify opportunities for improved pharmacy care.

CVS Caremark will apply the CareEngine to more than 800,000 members beginning in April, with additional membership to be added as CVS Caremark consults with its PBM clients.

March 1, 2011
CVS Caremark closer to completing acquisition of Universal American's Part D business

In connection with the previously announced $1.25 billion acquisition of the Medicare Part D business of Universal American by CVS Caremark, both companies have announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Act.

WOONSOCKET, R.I., and RYE BROOK, N.Y. — In connection with the previously announced $1.25 billion acquisition of the Medicare Part D business of Universal American by CVS Caremark, both companies have announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Act.

The transaction is expected to close by the end of second quarter 2011 and is subject to customary closing conditions, including approval of Universal American shareholders and state regulatory approvals.

March 1, 2011
Merlo officially takes helm at CVS

As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark.

WOONSOCKET, R.I. — As previously announced and widely reported, March 1 marks the day that Larry Merlo officially assumes the role of CEO of CVS Caremark. Merlo, who now serves as president and CEO, succeeds Tom Ryan, who remains nonexecutive chairman until his retirement at the company's annual meeting of shareholders in May.

Upon Ryan's retirement as chairman in May, the company intends to elect CVS Caremark board member David Dorman as the next nonexecutive chairman at the 2011 annual meeting. Dorman has been on the CVS Caremark board of directors since 2006.

February 28, 2011
CVS/pharmacy kicks off 2011 To Your Health program

CVS/pharmacy has announced the launch of the 2011 To Your Health program, offering free preventive health screenings at more than 800 events in communities across the country. The program is designed to help Americans determine their risk for chronic diseases and get them on a path to better health.

WOONSOCKET, R.I. — CVS/pharmacy has announced the launch of the 2011 To Your Health program, offering free preventive health screenings at more than 800 events in communities across the country. The program is designed to help Americans determine their risk for chronic diseases and get them on a path to better health.

The program will get under way in Houston on March 5, and continue in Dallas, Los Angeles, Washington, D.C., Atlanta, Philadelphia, Chicago and Miami.

February 23, 2011
CVS/pharmacy supports UNCF's initiatives

CVS/pharmacy and the United Negro College Fund, a minority education organization, are teaming up to celebrate Black History Month and promote education in the retailer's stores nationwide.

WOONSOCKET, R.I. — CVS/pharmacy and the United Negro College Fund, a minority education organization, are teaming up to celebrate Black History Month and promote education in the retailer's stores nationwide.

February 23, 2011
CVS/pharmacy's Just the Basics line makes debut

As expected, CVS/pharmacy officially has introduced a new line of store-brand products called Just the Basics, which is comprised of household essentials. As previously reported by Drug Store News, the retailer unveiled plans to launch the new line during its 2010 analyst day in October.

WOONSOCKET, R.I. — As expected, CVS/pharmacy officially has introduced a new line of store-brand products called Just the Basics, which is comprised of household essentials. As previously reported by Drug Store News, the retailer unveiled plans to launch the new line during its 2010 analyst day in October.

The new product line, exclusively available at CVS/pharmacy, is comprised of nearly 100 items, and there are plans to expand the line going forward.

February 18, 2011
CVS Caremark saluted for Pharmacy Advisor program

CVS Caremark announced on Friday that the Pharmacy Benefit Management Institute awarded the company and its PBM client, ArcelorMittal, the 2011 Rx Benefit Innovation Award. The award recognizes the Pharmacy Advisor program, which was developed by CVS Caremark to manage costs, improve medication adherence and close gaps in care for members with diabetes.

WOONSOCKET, R.I. — CVS Caremark announced on Friday that the Pharmacy Benefit Management Institute awarded the company and its PBM client, ArcelorMittal, the 2011 Rx Benefit Innovation Award. The award recognizes the Pharmacy Advisor program, which was developed by CVS Caremark to manage costs, improve medication adherence and close gaps in care for members with diabetes.

February 16, 2011
CVS/pharmacy weighs in with lifestyle program for ExtraCare members

In an effort to encourage healthy lifestyles among consumers, CVS/pharmacy and Weight Watchers have developed a mutually beneficial rewards program.

WOONSOCKET, R.I. — In an effort to encourage healthy lifestyles among consumers, CVS/pharmacy and Weight Watchers have developed a mutually beneficial rewards program.

Members of CVS' ExtraCare loyalty program will be given the opportunity to save money on CVS/pharmacy purchases when they join Weight Watchers meetings. Conversely, Weight Watchers members will receive CVS/pharmacy ExtraBucks offers on such health-related items as blood-pressure monitors, blood-glucose testing equipment, healthy snacks and more.

February 8, 2011
CVS/pharmacy hopes to set hearts aflutter this Valentine's Day

CVS/pharmacy is positioning itself as a go-to shopping destination this Valentine's Day.

WOONSOCKET, R.I. — CVS/pharmacy is positioning itself as a go-to shopping destination this Valentine's Day.

"Showing loved ones that you care is easier than ever this Valentine's Day with the variety of meaningful gifts available at your local CVS/pharmacy," said Mike Bloom, EVP merchandising, supply chain, marketing and advertising. "From cards and candy to the most popular designer fragrances, we offer what the variety shoppers are looking for in one convenient stop."

February 3, 2011
CVS' Q4 driven by same-store sales, Maintenance Choice

CVS Caremark announced on Thursday an increase in fourth-quarter same-store sales and a boost in retail pharmacy revenues as pharmacy comparable-store sales benefited from the Maintenance Choice program.

WOONSOCKET, R.I. — CVS Caremark announced on Thursday an increase in fourth-quarter same-store sales and a boost in retail pharmacy revenues as pharmacy comparable-store sales benefited from the Maintenance Choice program.

"I'm pleased with our earnings this quarter, which were in line with our expectations. Our retail business continued to produce industry-leading same-store sales and achieved an all-time record operating margin," stated Larry Merlo, who currently serves as president and COO and will be taking the reins as CEO in March.

February 3, 2011
Merlo puts stamp on his leadership in fourth-quarter earnings call

What will define success for CVS Caremark in the years ahead? If you ask incoming CEO Larry Merlo, it all comes down to three things: flawless execution, cross-functional thinking and management, and enhancing value. Not coincidentally, those are three key reasons Merlo inherited the top spot at the company.

WOONSOCKET, R.I. — What will define success for CVS Caremark in the years ahead? If you ask incoming CEO Larry Merlo, it all comes down to three things: flawless execution, cross-functional thinking and management, and enhancing value. Not coincidentally, those are three key reasons Merlo inherited the top spot at the company.

February 1, 2011
CVS' Foulkes named vice chairwoman of R.I.'s EDC board

Rhode Island Gov. Lincoln Chafee last week appointed Helena Foulkes, EVP and chief marketing officer for CVS Caremark, to the R.I. Economic Development Corp. board of directors, according to published reports.

PROVIDENCE, R.I. — Rhode Island Gov. Lincoln Chafee last week appointed Helena Foulkes, EVP and chief marketing officer for CVS Caremark, to the R.I. Economic Development Corp. board of directors, according to published reports.

Foulkes will serve as vice chairwoman of the EDC board. She is the first female to serve in this capacity.

February 1, 2011
CVS’ innovations far from ‘Just the Basics’ with Bloom at helm

WOONSOCKET, R.I. — Looking for a merchant known for the ability to swiftly understand the big picture and move into action? Look no further than Mike Bloom of CVS/pharmacy.


February 1, 2011
NewsBytes on CVS’ Merlo, Walmart health efforts, Michel now at Sears and more

WOONSOCKET, R.I. — The next chapter for CVS Caremark officially is under way. The company last month officially named Larry Merlo CEO, effective March 1. Tom Ryan will remain nonexecutive chairman until his retirement in May. Prior to the news, Merlo had been president and COO.

January 24, 2011
Merlo to assume CEO role at CVS Caremark

The next chapter for CVS Caremark officially is under way as the company announced on Monday the next stage of its previously announced transition plan and officially named Larry Merlo, president and COO, as CEO, effective March. 1.

WOONSOCKET, R.I. — The next chapter for CVS Caremark officially is under way as the company announced on Monday the next stage of its previously announced transition plan and officially named Larry Merlo, president and COO, as CEO, effective March. 1.

Tom Ryan, chairman, president and CEO, will remain nonexecutive chairman until his retirement at the company’s annual meeting of shareholders in May.

January 19, 2011
Patients split on filling 90-day Rx's at retail or through mail-order

When consumers are offered a cost-neutral choice to fill their 90-day prescription medications in a retail store or through a mail-order pharmacy, they tend to split their preferences, largely depending on their past experiences, according to the findings of a first-of-its-kind study from CVS Caremark.

WOONSOCKET, R.I. — When consumers are offered a cost-neutral choice to fill their 90-day prescription medications in a retail store or through a mail-order pharmacy, they tend to split their preferences, largely depending on their past experiences, according to the findings of a first-of-its-kind study from CVS Caremark.

January 18, 2011
CVS' Bloom, Baker to lead chain's retail business on interim basis

CVS Caremark has pulled the plug on its plan to hire former Walmart exec Hank Mullany, and is handing the keys to its retail business on an interim basis to Mike Bloom, EVP merchandising and supply chain, and Scott Baker, EVP internal operations and real estate, who will assume management for the company’s 7,100-plus stores.

WOONSOCKET, R.I. — CVS Caremark has pulled the plug on its plan to hire former Walmart exec Hank Mullany, and is handing the keys to its retail business on an interim basis to Mike Bloom, EVP merchandising and supply chain, and Scott Baker, EVP internal operations and real estate, who will assume management for the company’s 7,100-plus stores.

Bloom and Baker, who will report to Larry Merlo, president and COO of CVS Caremark, are assuming these duties on an interim basis, pending the completion of the company's search for a new president of CVS/pharmacy.

January 12, 2011
Acute visits climb as MinuteClinic preps for rapid growth phase

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
CVS increases quarterly dividend by nearly 43%

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 11, 2011
Many Americans still haven't received their flu shot

Despite an increase in flu activity, a recent CVS/pharmacy survey showed that 56% of respondents still had not received their flu shot, although 93% were aware that there already have been reported cases of the flu this season, the pharmacy retailer stated.

WOONSOCKET, R.I. — Despite an increase in flu activity, a recent CVS/pharmacy survey showed that 56% of respondents still had not received their flu shot, although 93% were aware that there already have been reported cases of the flu this season, the pharmacy retailer stated.

Flu activity steadily is increasing in the United States, with eight states now having reported widespread outbreaks of influenza cases, according CVS/pharmacy, which cited the most recent Centers for Disease Control and Prevention report.

January 11, 2011
Older physicians less likely to prescribe generic medications

While a majority of physicians are comfortable with generic medications, there is a small segment who still have negative perceptions about the effectiveness and quality of generic drugs, and that may lead to doctors prescribing unnecessarily expensive medications, according to a new study by researchers at Harvard University, Brigham and Women's Hospital and CVS Caremark.

WOONSOCKET, R.I. — While a majority of physicians are comfortable with generic medications, there is a small segment who still have negative perceptions about the effectiveness and quality of generic drugs, and that may lead to doctors prescribing unnecessarily expensive medications, according to a new study by researchers at Harvard University, Brigham and Women's Hospital and CVS Caremark.

January 10, 2011
'Pharmacy home' can help organize medication management

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.