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Pharmacy News Archive02-Nov-2006
'CVS is poised to buy pharmacy middleman (International Herald Tribune)CVS, the second-biggest drugstore chain in the United States, is in advanced talks to acquire Caremark Rx, the leading pharmacy benefits manager, for more than $21 billion.
'Sector Snap: Pharmacy Benefit Managers Up (AP via Yahoo! Finance) Shares of several pharmacy benefit managers climbed in Wednesday morning trading after Caremark Rx Inc. confirmed reports it is the target of a takeover by drugstore chain CVS Corp.
'Stocks rise on pharmacy merger talks, jobs data (Reuters via Yahoo! News) U.S. stocks rose on Wednesday after drugstore chain CVS Corp. and pharmacy benefits manager Caremark Rx Inc. said they were in merger talks and a stronger-than-expected job survey soothed fears of a sharp slowdown in economic growth.
'US pharmacy chain CVS to buy Caremark for US$21b (Channel NewsAsia)NEW YORK : US drugstore chain CVS said it was buying medical distribution group Caremark Rx in a deal worth some US$21 billion. CVS, the second-biggest pharmacy chain after Walgreens, will offer 1.67 of its shares for each Caremark share, making the deal worth US$21 billion at current valuations.
'Pharmacy merger to unite CVS, Caremark (Seattle Post-Intelligencer)CVS Corp. of Woonsocket, R.I., the nation's largest drugstore chain, said it plans to buy pharmacy-benefit manager Caremark Rx. Inc. of Nashville, Tenn., in a $21 billion all-stock deal, creating a drug-distribution powerhouse.
'Building a pharmacy powerhouse (The Providence Journal)NASHVILLE, Tenn. -- Drugstore operator CVS Corp. announced today it is buying pharmacy benefits manager Caremark Rx Inc. for about $21.3 billion in stock.
'Sector Wrap: Pharmacy Benefit Managers (AP via Yahoo! Finance) Shares of pharmacy benefit managers dropped on Wednesday after drugstore operator CVS Corp. said it is buying pharmacy benefits manager Caremark Rx Inc. for about $21.3 billion in stock.
'Pharmacy deal may ward off pain (Financial Times)By agreeing a deal to acquire pharmacy benefit manager Caremark Rx for $21bn, CVS on Wednesday moved to eliminate a rising competitor to its retail drug-selling business and expand its prescription benefits and mail order offerings.
'CVS-Caremark Would Be a Pharmacy Giant (US News & World Report)Drugstore chain CVS and Caremark RX, a pharmacy benefits manager, confirmed this morning they were in merger talks that could lead to a $21 billion deal. An agreement would transform the combined companies into the largest player in the distribution of drugs?CVS already is the nation's largest retail pharmacy with 6,200 stores and Caremark the leader in managing employee drug benefits.
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