July 3, 2004 |
Caremark Rx Inc. said that Washington state's attorney general was demanding information about the pharmacy benefit manager's business practices and that 18 other states would soon follow suit. Shares of Nashville-based Caremark, which recently bought industry rival AdvancePCS, dropped $1.20 to $31 on the New York Stock Exchange.
September 9, 2005 |
Caremark Rx Inc., a pharmacy benefits manager, and the Justice Department agreed Thursday to a $137.5-million settlement of lawsuits claiming that a predecessor company took kickbacks affecting several federal healthcare programs. Nashville-based Caremark admitted no wrongdoing in making the settlement, which was approved by a Philadelphia federal court Thursday. The lawsuits were filed in 2002 by three former executives of AdvancePCS Inc.
July 16, 1987
Caremark Inc., the Newport Beach-based home health care provider about to be acquired by Baxter Travenol Laboratories, on Wednesday announced record profits and earnings for the second quarter. In the period ended June 30, the company had profits of $3.4 million, 19% above the $2.8 million posted the year before. Revenues were $59 million, up 44% from the $41 million recorded in the prior year.
September 17, 1985
Gordon Clemons, former president of Intracorp, has been named president and chief operating officer of Caremark, the Newport Beach-based home health care, pharmaceuticals and health care products and health care management systems company. Clemons, 41, joined Caremark in May as chief operating officer of the company's Home Health Care of America division.
March 17, 2007 |
Caremark Rx Inc. shareholders approved a $26.5-billion takeover bid by CVS Corp., creating one of the largest competitors in the prescription drug industry, the company said. For months, CVS has been in a bidding war for Caremark with Express Scripts Inc. But increased antitrust scrutiny of the Express Scripts' proposal and its decision this week not to increase the offer turned the bidding war in CVS' favor, some analysts said. The combined company, to be called CVS/Caremark Corp.
January 17, 2007 |
Caremark Rx Inc.'s shareholders would receive a $2-a-share one-time dividend if their company completes a merger with CVS Corp. that Express Scripts Inc. tried to scuttle Tuesday with a hostile tender offer for Caremark. CVS and Caremark also said in a joint statement that they would retire 150 million shares of the merged company by buying stock from financial institutions. That would add $4.8 billion in debt, a regulatory filing said.