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.
CVS Caremark is “off to a good start” in 2011 as first-quarter results registered slightly above guidance for both the retail and PBM businesses, and the retail segment continues to gain share. But what president and CEO Larry Merlo wanted to clarify straight away during Thursday morning’s conference was the company’s commitment to its PBM division, and he outlined its plan to further improve PBM performance.
On the final evening of the National Association of Chain Drug Stores Annual Meeting in Scottsdale, the association for the first time honored two individuals in the same year with the Sheldon W. Fantle Lifetime Achievement Award: Mary Sammons, chairman of Rite Aid, and Tom Ryan, chairman of CVS Caremark.
CVS Caremark's Charitable Trust, the private foundation managed by CVS Caremark, has donated $75,000 to the American Red Cross in support of relief efforts in Alabama for communities impacted by tornadoes earlier this week.
CVS provided a healthy dose of convenience to urban dwellers with the opening of its Urban Cluster store concept late last year. The stores have a decidedly unique bend, being stocked with a broad range of consumables, including an expanded pantry offering and a selection of affordable wines priced under $7.
Beauty360 has been described as “a natural evolution” of CVS/pharmacy’s commitment to beauty, and there’s no denying that it is much different than any beauty department you’ll find in a traditional CVS/pharmacy store. As of press time, there were 25 Beauty360 stores in operation, located primarily in California. The first location was unveiled November 2008 at a Capitol district CVS store in the center of Dupont Circle.
Joseph Selame, who designed a wide range of well-known logos and brand identities for dozens of nonprofit organizations and companies, including CVS/pharmacy, died on March 29 in Boca Raton, Fla. He was 86.
CVS Caremark announced on Friday that it has agreed to pay $17.5 million, to be allocated among the federal government and 10 participating states, to resolve a civil complaint concerning how its CVS/pharmacy retail pharmacies submitted reimbursement claims in certain states for prescriptions filled for "dual eligible" patients who have coverage under both Medicaid and a third-party insurance plan.
Despite a difficult economy and rising health costs, the benefits of an integrated pharmacy service were evident as CVS Caremark helped its pharmacy benefit manager clients — employers, health plans and third-party administrators — manage pharmacy costs, according to the company's annual "Insights Report."
The news that CVS Caremark's MinuteClinic has entered into a clinical affiliation with Advocate Health Care and Advocate Physician Partners is important as it reflects a larger focus within the U.S. healthcare landscape: medical homes, or for a growing number of Americans, the lack thereof.
CVS Caremark's retail-based clinic operator, MinuteClinic, has entered into a clinical affiliation with Advocate Health Care and Advocate Physician Partners to enhance the healthcare services provided to patients in communities throughout Chicagoland and central Illinois.
CVS Caremark announced on Tuesday that it has been named as one of the most reputable companies in the United States in the 2011 Most Reputable Companies list published by Forbes magazine in partnership with the Reputation Institute.
The news that CVS Caremark has named Helena Foulkes EVP and chief healthcare strategy and marketing officer undoubtedly is significant, as she will be responsible for integrating all the company's capabilities in branding, communications and healthcare-reform strategy to forge even stronger partnerships and further improve pharmacy care delivery. The responsibilities of this newly created position will be no small feat, indeed, but clearly those at 1 CVS Drive are more than confident in her abilities.
CVS Caremark has named Helena Foulkes, who is widely regarded as one of the most visionary marketers in modern drug store retailing, to the newly created position of EVP and chief healthcare strategy and marketing officer.
"Dispense-as-written" prescriptions are exacerbating medication nonadherence and costing the U.S. healthcare system billions of dollars, according to a new study by researchers at Harvard University, Brigham and Women's Hospital, and CVS Caremark.
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.