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Larry Merlo

CVS, Walmart make list of 50 Most Innovative Companies

CVS, Walmart make list of 50 Most Innovative Companies

NEW YORK — CVS Health and Walmart have been named to the 2018 Fast Company 50 Most Innovative Companies list. On this year’s 50 Most Innovative Companies listing, CVS finished in the top 10, coming in at No. 7 for “cleaning up the aisles,” Fast Company said. CVS had last made the list in 2016,

CVS Health sees solid finish to 2017 fiscal year

CVS Health sees solid finish to 2017 fiscal year

WOONSOCKET, R.I. — Driven by growth in its pharmacy benefit management unit, and overcoming softness in its retail business, CVS Health posted increased sales and beat Wall Street’s earnings forecast for its 2017 fourth quarter and fiscal year. CVS said Thursday that for the fourth quarter ended Dec. 31, total revenue rose 5.3% to $48.39

2018 Retail Forecast: Learning to Adapt

2018 Retail Forecast: Learning to Adapt

What will the second year of the Trump administration look like? Is the demise of the Affordable Care Act imminent? Will pharmacists get the greater role in health care they have long sought? These are among the questions top chain drug industry executives are pondering as they look to 2018. With spiraling health care costs and

CVS Health unveils outlook for fiscal 2018

WOONSOCKET, R.I. — CVS Health executives expressed confidence in the company’s growth strategy earlier this month, and also noted that the recently passed tax overhaul packaged should boost its cash flow by an estimated $1.2 billion. The remarks came in a conference call following an announcement of CVS Health’s 2018 earnings outlook. CVS Health said

CVS Health gives update on 2018 outlook

CVS Health gives update on 2018 outlook

WOONSOCKET, R.I. — In an update for investors, CVS Health executives expressed confidence in its growth outlook and noted that the recently passed tax overhaul package should boost its cash flow by an estimated $1.2 billion. The remarks came yesterday in a conference call after the company’s announcement of its earnings expectations for 2018. CVS

Big events of 2017 that will shape the future

Big events of 2017 that will shape the future

A case could be made that for pharmacy operators passage of the Tax Cuts and Jobs Act late last month was the biggest story of 2017. Championed by the Republican leadership in Congress and President Trump, the $1.5 trillion measure will provide substantial, permanent tax relief for businesses — the corporate tax rate was cut

Merlo discusses potential of CVS-Aetna merger

Merlo discusses potential of CVS-Aetna merger

NEW YORK — Acquiring Aetna Inc. will better position CVS Health to improve health outcomes and bring affordable health care to more Americans, CVS president and chief executive officer Larry Merlo told National Public Radio (NPR). The addition of a health insurer like Aetna will allow CVS to provide a more comprehensive care offering to

CVS, Aetna set to merge in transformative deal

CVS, Aetna set to merge in transformative deal

WOONSOCKET, R.I. — CVS Health plans to acquire health insurer Aetna for roughly $69 billion in a first-of-its kind deal aimed at fending off challenges in retail and health care. The landmark CVS-Aetna merger deal comes at time when insurers are under pressure to lower medical costs, and retailers are under attack from new competitors,

CVS Health to buy Aetna for $69 billion

CVS Health to buy Aetna for $69 billion

WOONSOCKET, R.I., and HARTFORD, Conn. — Following mounting speculation over the past month, CVS Health has unveiled a cash-and stock-deal to acquire health insurer Aetna Inc. for $69 billion. CVS and Aetna said Sunday evening that under the merger pact, Aetna shareholders will receive about $207 per share, including $145 in cash and 0.8378 CVS

CVS Health reports decline in 3Q retail sales

CVS Health reports decline in 3Q retail sales

WOONSOCKET, R.I.  — Despite sales declines in its retail pharmacy business, CVS Health saw overall revenue rise and bested Wall Street’s earnings forecast for its fiscal 2017 third quarter. CVS said Monday that for the third quarter ended Sept. 30, sales totaled $46.18 billion up 3.5% from $44.62 billion a year earlier. CVS third-quarter sales

CVS makes moves to strengthen PBM business

CVS makes moves to strengthen PBM business

WOONSOCKET, R.I. — CVS Health has announced two major agreements to boost pharmacy benefit management ­services. The company late last month introduced a 30,000-store performance-based pharmacy network anchored by CVS Pharmacy and Walgreens designed to deliver savings and improved clinical outcomes for CVS Caremark PBM members. That followed the company’s announcement of a five-year deal

Transformational deal weighed by CVS

Transformational deal weighed by CVS

WOONSOCKET, R.I. — At presstime The Wall Street Journal along with other news agencies reported that CVS Health will offer more than $200 per share, or about $66 billion, to purchase the health insurance giant Aetna Inc. Anonymous sources cited by WSJ originated the story about a potential CVS-Aetna deal. The possible transaction comes as

Trump declares opioid abuse a public health emergency

Trump declares opioid abuse a public health emergency

WASHINGTON — Following through on pledge made this summer, President Donald Trump has formally declared the nation’s growing opioid abuse epidemic as a public health emergency. In a press conference at the White House on Thursday, the president and First Lady Melania Trump announced the action, which has drawn plaudits from public officials and pharmacy

CVS Health to support new Anthem PBM

CVS Health to support new Anthem PBM

WOONSOCKET, R.I. — CVS Health has signed a five-year agreement to provide services to support IngenioRx, a new pharmacy benefit manager formed by Blue Cross Blue Shield health insurer Anthem Inc. CVS said Wednesday that its CVS Caremark PBM division will manage certain services for IngenioRx, including claims processing and prescription fulfillment. In addition, CVS