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Larry Merlo

CVS refuses to be satisfied with status quo

CVS refuses to be satisfied with status quo

It was a very productive spring for CVS Health. Already performing at a level that made it the envy of most other retailers and health care providers, the company took a series of steps in May and June that will increase its chances of success in several burgeoning sectors of the marketplace. The biggest news

Target CEO: CVS deal represents ‘significant shift’

Target CEO: CVS deal represents ‘significant shift’

MINNEAPOLIS — With CVS Health running Target Corp.’s pharmacies and clinics, the discount chain will be better able to focus on providing wellness products and services throughout its stores, according to Target chairman and chief executive officer Brian Cornell. “This exciting partnership represents a significant shift in our business model and will have notable benefits

CVS Health to buy Target’s pharmacy business

CVS Health to buy Target’s pharmacy business

WOONSOCKET, R.I. – CVS Health plans to acquire Target Corp.’s U.S. pharmacy and retail health clinics businesses for about $1.9 billion. CVS said Monday that it will buy more than 1,660 Target pharmacies across 47 states and operate them through a store-within-a-store format and that every new Target store that offers pharmacy services will include

Acquisition takes CVS into new dispensing channel

Acquisition takes CVS into new dispensing channel

WOONSOCKET, R.I. — Boosting its services for the burgeoning senior market, CVS Health has agreed to acquire Omnicare — the nation’s largest provider of pharmaceutical services to long-term care facilities — for $12.7 billion. With the acquisition, which includes $2.3 billion in debt, CVS Health will significantly expand its ability to dispense prescriptions in assisted

CVS Health to buy Omnicare for $12.7 billion

CVS Health to buy Omnicare for $12.7 billion

  WOONSOCKET, R.I. — CVS Health is entering a new market segment with a $12.7 billion deal to acquire Omnicare, a provider of pharmacy services to long-term care facilities. CVS said Thursday that the addition of Omnicare will significantly expand its ability to dispense prescriptions in assisted living and long-term care facilities, serving the senior patient population. The

CVS to rebuild stores damaged in Baltimore riots

WOONSOCKET, R.I. — CVS Health plans to rebuild two CVS/pharmacy stores in Baltimore that sustained heavy fire damage during last week’s protests in the city. The company said Wednesday that the CVS/pharmacy locations to be rebuilt are at 2509 Pennsylvania Ave. and 2560 West Franklin St. in Baltimore. CVS Health said that to help minimize the financial impact of the store

CVS Health gets 1Q boost from PBM

CVS Health gets 1Q boost from PBM

  WOONSOCKET, R.I. — Citing a strong performance by its pharmacy benefit management business, CVS Health posted a double-digit sales gain for the first quarter, with adjusted earnings topping Wall Street’s projections. CVS said Friday that net sales for the three months ended March 31 totaled $36.33 billion, up 11.1% from $32.69 billion a year earlier. Sales for CVS’ retail pharmacy business

NACDS regional chain meeting still vital, vibrant

NACDS regional chain meeting still vital, vibrant

The most stunning aspect of the recently held NACDS Regional Chain Conference, convened on the west coast of Florida on February 1, was the absence of many of the industry veterans around whom the conference revolved in years past. Tony Civello, until recently the head of Kerr Drug, was absent, having sold his drug chain

Obama cites CVS as a leader in State of Union speech

Obama cites CVS as a leader in State of Union speech

WASHINGTON — Larry Merlo basked in the glow of a tribute to CVS Health from President Obama during the State of the Union address last month. Attending the speech at the invitation of first lady Michelle Obama, the CVS chief executive officer was shown on national television after the president said, “Tonight, I’m also asking more

CVS bullish about ‘unmatched suite of assets’

NEW YORK — CVS Health “has made the right moves,” and is “very excited about the enterprise that we have become,” president and chief executive officer Larry Merlo said at the company’s annual Analyst Day here. CVS is well positioned to meet the changing needs of consumers, payers and providers with its integrated retail pharmacy,

CVS Caremark adopts new corporate name

WOONSOCKET, R.I. — CVS Caremark Corp. has changed its corporate name to CVS Health to reflect its broader commitment to health care. Also on Wednesday, CVS Health announced the end of tobacco sales at all CVS/pharmacy stores, nearly a month ahead of its initial target date of Oct. 1. In announcing the new corporate name

CVS to stop selling tobacco products

WOONSOCKET, R.I. — CVS Caremark Corp. will halt all sales of cigarettes and other tobacco products through its more than 7,600 CVS/pharmacy stores nationwide by Oct. 1. The action makes CVS/pharmacy the first national drug chain to take this step. “Ending the sale of cigarettes and tobacco products at CVS/pharmacy is the right thing for

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