Medicare Part D beneficiaries who enter the "doughnut hole," where they have to pay 100% of previously subsidized prescription costs, are twice as likely to discontinue their medications as they are to switch to more affordable or generic medications, according to a new study conducted by researchers from Harvard University, Brigham and Women's Hospital and CVS Caremark.

CVS Caremark’s MinuteClinic continues to expand its list of strategic alliances, with its latest partner being Indiana University Health (IU Health), the largest health system in Indiana.

CVS Caremark posted second-quarter results that were at the high end of its guidance and narrowed its 2011 outlook on continued confidence. But it was the pharmacy benefit management business — and the potential merger of PBM rivals Express Scripts and Medco Health Solutions — that was top of mind for many industry observers, and was a topic that CVS Caremark president and CEO Larry Merlo hit head-on at the start of Thursday morning’s conference call.

CVS Caremark has donated approximately $40,000 in monetary and in-kind donations to support residents of Joplin, Mo., including some of the company's pharmacy benefit manager clients and their members who were impacted by the recent tornado, the company announced on Friday.

As reported, CVS Caremark's annual meeting of stockholders was of special importance as it marked the beginning of a new chapter for both CVS Caremark and its former chairman and CEO Tom Ryan, who officially retired from the company after more than 30 years of service.

In an effort to further enhance the online experience for its pharmacy benefit management members, CVS Caremark announced it has relaunched Caremark.com.

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.

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.

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.

CVS Caremark is more than doubling the size of its Medicare Part D program by acquiring the Medicare Part D business of Universal American for roughly $1.25 billion.

CVS Caremark announced on Friday that former Walmart North executive Hank Mullany will succeed Larry Merlo as president of CVS/pharmacy. The move is part of the corporate succession plan announced last May in which Tom Ryan will retire as CEO prior to the next annual meeting and Merlo will step up as CEO.