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BUSINESS
September 12, 2013 | David Lazarus
CVS Caremark insists that it's just complying with federal law by informing customers that their medical information could be "redisclosed" if they sign up for the company's prescription-drug reward program. Privacy experts, though, question whether CVS is complying with state law. "California's privacy law is stricter than federal law," said Charles Googooian, a La Canada Flintridge lawyer who specializes in medical-privacy issues. "It doesn't seem like CVS is complying with either the spirit or the letter of state law. " CVS has been scrambling to defend its ExtraCare Pharmacy & Health Rewards program since I recently reported that customers are being required to give up important federal privacy safeguards in return for up to $50 a year in store credits.
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BUSINESS
June 22, 2010 | DAVID LAZARUS
Rewards programs can be a good thing. They build loyalty and provide a tangible benefit to being a steady customer. That is, if the reward is actually a reward, and not some corporate ploy that goes out of its way to prevent customers from enjoying the perk they've been promised. I'm thinking of the cash-back program at CVS Caremark, one of the country's leading drugstore chains. At first glance, CVS' Extra Bucks system seems pretty appealing. Flash your CVS ExtraCare card at the cash register and you'll earn 2% back on things you buy. You'll also earn one Extra Buck for every two prescriptions you fill.
BUSINESS
September 5, 2008 | From Times Wire Services
Some Longs Drug Stores Corp. shareholders said they would oppose CVS Caremark Corp.'s $2.7-billion offer to buy the company if Longs didn't tell them more about the value of its real estate. CVS Caremark agreed to pay $71.50 a share for Longs to gain more than 500 stores. CVS valued Longs' real estate at about $1 billion. But CtW Investment Group said the price was too low by as much as $260 million, and two major Longs shareholders said they wanted to know more about how the real estate was valued.
BUSINESS
February 5, 2013 | David Lazarus
Deborah Shapiro decided a few months ago to switch her prescription drug coverage from her former employer's plan to Medicare. The Medicare literature made clear that she could save hundreds of dollars on the various drugs she and her husband required. Shapiro, 76, of Woodland Hills, studied her options carefully and decided to enroll in SilverScript, the Medicare-approved drug program run by CVS Caremark. That turned out to be not such a good decision after all. Shapiro was one of many seniors who found themselves facing inexplicably large bills that CVS refused to negotiate.
BUSINESS
June 19, 2010 | By Michael Oneal
It turns out Walgreen Co. and CVS Caremark Corp. need each other after all. After months of contract negotiations, punctuated by a two-week public brawl, the two drugstore giants announced Friday that they had settled a dispute that threatened to prevent thousands of people from filling their prescriptions at Walgreens stores. At issue: the way Caremark, one of the nation's biggest prescription-plan operators, prices discounts for prescriptions filled at Walgreens pharmacies, which often compete fiercely with nearby CVS stores nationwide.
NEWS
February 5, 2014 | By Scott Martelle
It's long struck me as odd that drugstores, the places where most of us get our prescriptions filled for all manner of illnesses, also are go-to spots for cigarettes. With the latter, drugstores worsen the nation's health; with the former, they profit from it. ... Wait, maybe there is a method to that madness. Regardless, the CVS chain, owned by CVS Caremark , is doing the nation a service by ending the sale of tobacco products at its more than 7,600 retail outlets.
CALIFORNIA | LOCAL
October 15, 2010 | By Lisa Girion and Scott Glover, Los Angeles Times
The nation's largest pharmacy chain will pay a record fine for illegally selling large amounts of a key methamphetamine ingredient to criminal traffickers, a problem that prosecutors say led to a surge in production of the widely abused drug in California. CVS Pharmacy Inc. agreed to pay a $75-million fine and forfeit $2.6 million in profits on the unlawful sales of pseudoephedrine in California and Nevada in 2007 and 2008, according to federal prosecutors based in Los Angeles. The penalty is the largest for a civil violation of the Controlled Substances Act, a 40-year-old law that is more often aimed at street dealers and narcotics traffickers.
BUSINESS
December 31, 2010 | Times wire services
CVS Caremark Corp., the No. 2 U.S. drugstore chain, agreed to buy Universal American's Medicare prescription drug business for about $1.25 billion to expand in a growing segment of the pharmacy benefit market. The deal will more than double the size of CVS Caremark's business that provides prescription drug coverage under the Medicare Part D program. Medicare is the U.S. government's healthcare program for the elderly. Universal American shareholders are expected to receive about $12.80 to $13 per share in cash for the business, which accounted for less than half of the company's total revenue in the first nine months of 2010.
BUSINESS
October 18, 2012 | By David Lazarus
CVS Caremark is feeling more heat. Join me at 3:15 p.m. PDT for a Google+ Hangout video chat about my latest column on CVS being investigated for allegedly refilling prescriptions and submitting claims to insurers without patients' approval. Another federal investigation has begun. I'll have information on that. Also, we've gotten our hands on more internal documents highlighting instructions given to CVS pharmacists about enrolling people in the company's automatic-refill program.
BUSINESS
March 21, 2013 | By Ricardo Lopez
The Climate-Smart Agriculture Conference kicked off Wednesday at UC Davis. It's the first time the event is held in the U.S. after its inauguration at Wageningen University in the Netherlands. The conference brings together scientists and policy makers to identify and shape agriculture practices that address climate change. Times agriculture reporter Ricardo Lopez attended, tweeting updates throughout the first day. Here's a curated Storify post of his tweets and others:  ALSO: Gas prices cut into spring break travel, survey says  Starbucks buys first farm, plans to double loyalty card members Report: CVS Caremark demans workers disclose weight, health info ricardo.lopez2@latimes.com
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