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BUSINESS
January 24, 2006 | Jerry Hirsch, Times Staff Writer
Burdened with aging stores and growing competition, Albertsons Inc. said Monday that it had agreed to be sold and broken into three pieces. The transaction could lead to a refurbishment of Albertsons supermarkets in Southern California and would make CVS Corp. the largest drugstore chain in the region. Albertsons said an investor group that included grocery store chain Supervalu Inc., CVS and private investment firms Cerberus Capital Management and Kimco Realty Corp.
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BUSINESS
March 25, 2010 | Bloomberg News
CVS Caremark Corp. is being investigated by a multi-state task force looking into the consequences of the company's 2007 purchase of Caremark Rx Inc., Florida's attorney general's office said Wednesday. Florida is conducting a review of the merger that created the largest U.S. supplier of prescription drugs, the state attorney general's office said. Florida is working with other states, the office said. The Caremark unit provides pharmacy-benefits management to employers and accounted for about half of the company's 2009 sales of $98.7 billion.
BUSINESS
March 10, 2014 | David Lazarus
CVS Caremark Corp. could face as much as $29 million in fines for allegedly losing track of prescription painkillers at four of its California stores, from which authorities said thousands of pills may have been sold on the black market. Officials at the U.S. Drug Enforcement Administration and the California Board of Pharmacy told me Monday that more than 37,000 pills were apparently taken from CVS stores in Modesto, Fairfield, Dixon and Turlock. Meanwhile, CVS pharmacists in Southern California said they've been instructed by the drugstore chain to get their paperwork in order so that no other prescription meds are found to be missing.
BUSINESS
October 16, 2012 | By Marc Lifsher, Los Angeles Times
SACRAMENTO - State pharmacy regulators have opened an investigation into reports that CVS Caremark Corp. refilled prescriptions and billed insurance companies without patients' consent. Virginia Herold, executive officer of the California Board of Pharmacy, said Tuesday that investigators were probing complaints about the refill practices of the country's largest drugstore chain after Walgreen Co. Herold said the complaints concerning "CVS and refills" were similar to allegations raised in four Los Angeles Times reports published in the last three months.
BUSINESS
March 15, 2006 | From the Associated Press
Albertsons Inc. announced that the Federal Trade Commission had approved the $11.1-billion sale of the company to a consortium led by Minnesota-based grocer Supervalu Inc. and drugstore chain CVS Corp. Shareholders of Albertsons and Supervalu are expected to approve the deal. Albertsons shares climbed 19 cents to $25.79.
BUSINESS
March 12, 2002 | Reuters
Chain drugstores that have opposed a Bush administration plan to give seniors a pharmacy discount card said they would offer their own card to link various price cuts given by pharmaceutical companies. No drug companies have signed on to the National Assn. of Chain Drug Stores card, but the group, which represents CVS Corp., Wal-Mart Stores Inc. and other major drugstore chains, said many firms have expressed interest.
BUSINESS
July 7, 2000 | Bloomberg News
Bergen Brunswig Corp.'s stock rose for a second consecutive day after the Orange drug wholesaler said it has agreed to sell most of its money-losing specialty-medicine distribution unit to CVS Corp. The shares moved up 23%, or $1.69, to $9. On Wednesday, the stock moved up 26%, or $1.50 a share, on the New York Stock Exchange.
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