CVS

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Posted by kaori 03/09/2009 @ 22:12

Tags : cvs, drug stores, retailers, business

News headlines
CVS/pharmacy Expands Beauty 360(TM) with New Store in Ridgefield, CT - PR Newswire (press release)
WOONSOCKET, RI, May 18 /PRNewswire/ -- CVS/pharmacy announced the opening of the third Beauty 360 location in Ridgefield, CT at 467 Main Street. The prestige beauty store also added ten new brands across cosmetics and skincare and has introduced hair...
CVS - Cervantes and Zurich Securities Support JV Global 1/1 - American Chronicle
Sydney - Monday - May 18: (RWE Australian Business News) - Cervantes Corporation Ltd (ASX:CVS) and Zurich Securities Pty Ltd have agreed to jointly provide short-term funding and capital raising support for a $1.25m at 1c share placement for the...
CVS Caremark Hosts Annual Analyst/Investor Day - WELT ONLINE
CVS Caremark Corporation (NYSE: CVS), today hosted its Annual Analyst/Investor Meeting, an archive of which is available at the Company's Investor Relations Web site at cvscaremark.com/investors. In a series of senior executive presentations,...
Warrant out for ex-CVS pharmacist in Norwalk for kinky Craigslist ad - The Hour
By STEVE KOBAK Nine months after The Hour alerted the public that a CVS pharmacist had allegedly used a customer's personal information to post a kinky sex ad on Craigslist about her, police have applied for a warrant for his arrest....
County balks on drug card program - Marshall News Messenger
Commissioners authorized city staff in March to study the possible benefits of participating in the NLC Prescription Discount Card program administered by CVS Caremark. But Thursday night, Brian Bates, Matthewson Drug Co. owner and pharmacist,...
On the trail of rogue recruiters - BBC News
"You'd come in in the morning and there'd be 30 or 40 CVs waiting for you ... you'd get their CVs into the database," he said. "You were told 'don't get caught doing that'." Todd left the industry because he found these practices so underhand....
CVS Caremark to consider shareholder vote results - Reuters
CHICAGO, May 6 (Reuters) - CVS Caremark Corp (CVS.N) shareholders voted on Wednesday to allow certain holders to call special meetings and give holders an advisory vote on executive compensation. The drugstore and pharmacy benefits manager said the...
CVS Caremark reiterates recently increased FY09 earnings outlook ... - RTT News
(RTTNews) - Drugstore chain and pharmacy benefit manager CVS Caremark Corp. (CVS: News ) on Friday reiterated its recently increased full year 2009 earnings guidance at its annual analyst/investor meeting. Earlier this month, the Woonsocket,...
1 Suspect Dead, 2 Arrested in Robbery - MyFox Houston
When Bellaire police arrived to the CVS/pharmacy located at the intersection of Bissonnet Street and Chimney Rock Road, they found the getaway driver parked outside the store while two masked men were inside the store....
Police looking for robber of CVS in NE Phila. - Philadelphia Inquirer
Philadelphia police are searching for the man who robbed a Northeast CVS drugstore on Bustleton Avenue on April 25 and 29. The robber was white, 40 to 50 years old, and 5-foot-10 to 6 feet tall, Police Lt. Frank Vanore said....

CVS Caremark

CVS Caremark Corporation logo

CVS Caremark Corporation (NYSE: CVS) is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain. CVS Caremark provides pharmacy services through its 6,800 CVS/pharmacy and Longs Drugs stores; its pharmacy benefit management, mail order and specialty pharmacy division, Caremark Pharmacy Services; its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. CVS Caremark Corporation is chartered in Delaware, and is headquartered in Woonsocket, Rhode Island, where its pharmacy business is also headquartered. The pharmacy services business is headquartered in Nashville, Tennessee.

CVS Caremark has two operating segments: CVS/pharmacy and Caremark Pharmacy Services.

The lineage of CVS Caremark Corporation can be traced back to Melville Corporation, formerly based in Rye, New York. Melville was a large retail holding corporation incorporated in 1922 as the Melville Shoe company. It changed its name to CVS Corporation in 1996. In March 2007, CVS Corporation completed the merger of equals with Caremark Rx Inc. and changed its name to CVS Caremark Corporation.

The CVS name once stood for Consumer Value Stores; though Thomas Ryan, CVS Caremark's CEO, has said he now considers it to stand for "Convenience, Value, and Service". The "pharmacy" part of the CVS store name comes from the chain's days as a regional Northeastern U.S. chain. CVS operated many convenience store-type stores without pharmacies, and the "/pharmacy" would be used to indicate the stores that had pharmacies. CVS now no longer builds stores without pharmacies, and many of the "CVS" stores (stores without pharmacies) have been phased out, though a few remain in New England, New York, Washington, D.C., and shopping malls.

Caremark was established in 1979 as Home Health Care of America, & changed its name to Caremark in 1985. In 1987, Caremark was acquired by, then became a subsidiary of, Baxter International. In 1992, however, Baxter spun off Caremark as a public company. In 1996, Caremark then merged with MedPartners/Mullikin Inc., with the combined company being called MedPartners. In 1998, MedPartners changed its name to Caremark Rx.

CVS has an extensive assortment of various private labels and proprietary brands. In addition to CVS Brand, CVS also carries exclusive store brands under the names of Essence of Beauty, Gold Emblem, Absolutely Divine, Blade, Earth Essentials, and Life Fitness. CVS also holds exclusive contracts to sell proprietary brands such as Nuprin, Christophe, PreVentin-AT, 24/7, Skin Effects, and the European brand Lumene. A new exclusive Playskool line of baby care is also in CVS stores. CVS was also first to sell single-use digital cameras and camcorders from Pure Digital.

In 1998, the Washington Post reported that CVS Corporation appeared to be sharing prescription drug information with the Woburn-based marketing company, Elensys. According to the Post, Elensys received information on specific prescription drugs that individual CVS customers had purchased and used this information to send targeted direct mailings urging customers to renew prescriptions and promoting other products in which they might be interested. CVS and Elensys argued that there were no privacy issues because Elensys was acting solely as a contractor to CVS, and because the purpose of the mailings was to educate consumers. CVS claimed that it never shared customers' medical histories with Elensys (despite the Washington Post's indirect evidence that they had). George D. Lundberg, editor of the Journal of the American Medical Association, called the practice "a gross invasion" of privacy. Following a firestorm of criticism and complaints by consumers, CVS discontinued the practice.

During 2005 a rash of prescription mistakes came to light in some of CVS Corporation's Boston-area stores. An investigation confirmed 62 errors or quality problems going back to 2002. In February 2006, the state Board of Pharmacy announced that the non-profit Institute of Safe Medication Practices (ISMP) would monitor all Massachusetts stores for the next two years.

In the late 1980s and early 1990s Caremark RX was involved in a number of health fraud and Medicare fraud scandals.

In 2005, Caremark RX paid $137.5 million to settle federal lawsuits filed by whistle-blowers that accused a company it acquired in 2003 of improper dealings with pharmaceutical manufacturers.

The lawsuits said that the acquired company, AdvancePCS, accepted kickbacks from drug makers to promote their products over those of rivals under contracts with government programs including the Federal Employees Health Benefit Program, the Mail Handlers Health Benefit Program and Medicare health maintenance plans.

There was no admission of wrongdoing by Caremark or AdvancePCS.

CVS Caremark has agreed to a a $38.5 million settlement in a multi-state civil deceptive-practices lawsuit against pharmacy benefit manager Caremark filed by 28 attorneys general, the Chicago Tribune reports. The attorneys general, led by Lisa Madigan (D) of Illinois and Douglas Ganslar (D) of Maryland, allege that Caremark "engaged in deceptive business practices" by informing physicians that patients or health plans could save money if patients were switched to certain brand-name prescription drugs (Miller, Chicago Tribune, 2/14).

However, the switch often saved patients and health plans only small amounts or increased their costs, while increasing Caremark's profits, Connecticut Attorney General Richard Blumenthal (D) said (Levick, Hartford Courant, 2/15). Pennsylvania Attorney General Tom Corbett (R) said the PBM kept discounts and rebates that should have been passed on to employers and patients (Levy, AP/San Francisco Chronicle, 2/14). In addition, Caremark did not "adequately inform doctors" of the full financial effect of the switch and did not disclose that the switch would increase Caremark's profits, the lawsuit alleges (Chicago Tribune, 2/14).

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CVS/pharmacy

A typical CVS/pharmacy in Durham, North Carolina.

CVS/pharmacy (commonly called CVS) is a pharmacy and convenience store chain in the United States. CVS is one of the largest pharmacy chains in the United States, with approximately 6,800 stores across 41 states and soon Puerto Rico. As the retail pharmacy division of CVS Caremark, it sells prescription drugs and a wide assortment of general merchandise, including over-the counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards and convenience foods through their CVS/pharmacy and Longs Drugs retail stores and online through CVS.com. They also provide healthcare services through its MinuteClinic healthcare clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.

CVS is incorporated in Delaware, and is based in Woonsocket, Rhode Island. It was founded in Lowell, Massachusetts in 1963.

CVS/pharmacy used to be a subsidiary of Melville Corporation until Melville changed its name to CVS Corporation in 1996.

During the company's days as a regional chain in the Northeastern U.S., many of CVS's stores did not include pharmacies. These stores were simply called "CVS", while the ones with pharmacies were called "CVS/pharmacy." Additionally, in some jurisdictions, pharmacies are required to label themselves as such. Today, the company no longer builds new stores without pharmacies, and is gradually phasing out the old convenience store-type shops that remain in New England, New York, Washington, D.C., and shopping malls.

The domain cvs.com attracted at least 26 million visitors annually by 2008 according to a Compete.com survey.

CVS has a variety of private labels and outside brands. In addition to CVS/pharmacy brand, it also carries its own store brands under the names Essence of Beauty, Gold Emblem, Stars and Stripes and Round the House. CVS also has exclusive agreements to sell outside brands such as Life Fitness, Christophe, Ellin Lavar, PreVentin-AT, Skin Effects, the Scandinavian Lumene, and an exclusive Playskool line of baby care items. CVS was also first to sell single-use digital cameras and camcorders from Pure Digital Technologies.

In 2005, CVS participated in a program to reduce the pollution of Maine's waterways. CVS agreed to accept drugs for disposal, so that people would not dispose of them in ways that reach rivers and other bodies of waters.

In 1998, The Washington Post reported that CVS appeared to be sharing prescription drug information with the Woburn-based marketing company, Elensys. According to the Post, Elensys received information on specific prescription drugs that individual CVS customers had purchased and used this information to send targeted direct mailings urging customers to renew prescriptions and promoting other products in which they might be interested. CVS and Elensys argued that there were no privacy issues because Elensys was acting solely as a contractor to CVS, and because the purpose of the mailings was to educate consumers. CVS claimed that it never shared customers' medical histories with Elensys (despite the Washington Post's indirect evidence that they had). George D. Lundberg, editor of the Journal of the American Medical Association, called the practice "a gross invasion" of privacy. Following a firestorm of criticism and complaints by consumers, CVS discontinued the practice.

During 2005 a rash of prescription mistakes came to light in some of CVS Corporation's Boston-area stores. An investigation confirmed 62 errors or quality problems going back to 2002. In February 2006, the state Board of Pharmacy announced that the non-profit Institute of Safe Medication Practices (ISMP) would monitor all Massachusetts stores for the next two years.

Former CVS executives John R. Kramer and Carlos Ortiz were charged with bribery, conspiracy, and fraud (including mail fraud) by a federal grand jury for allegedly paying State Senator John A. Celona (D-RI) to act as a "consultant" for the company. Between February 2000 and September 2003, CVS paid Celona $1,000 a month, and he received tickets to golf outings and sporting events and compensation for travel to Florida and California. In August 2005, he pleaded guilty to mail fraud charges, and in January 2007, he was fined a record $130,000 by the Rhode Island Ethics Committee. The investigation was led by the FBI and the Rhode Island State Police, and the case was prosecuted by Assistant U.S. Attorneys Gerard B. Sullivan and Dulce Donovan. Additional information is available in a press release from the FBI's Boston field office.

A segment on 20/20 accused CVS, Walgreens and Rite Aid among other pharmacies, of making various prescription dispensing errors. This segment aired in March 2007 and was called "ABC News '20/20' Undercover Pharmacy Investigation". CVS responded by claiming they have designed and invested millions of dollars in a comprehensive quality assurance program.

Texas Attorney General Greg Abbott has sued CVS as of April 2007, for illegally dumping confidential patient information while closing an acquired Eckerd store in Liberty, Texas. CVS is accused of breaking the 2005 Identity Theft Enforcement and Protection Act. There are also other possible violations under the violations under Chapter 35 of the Business and Commerce Code.

CVS Caremark has agreed to a a $38.5 million settlement in a multi-state civil deceptive-practices lawsuit against pharmacy benefit manager Caremark filed by 28 attorneys general, the Chicago Tribune reports. The attorneys general, led by Lisa Madigan (D) of Illinois and Douglas Ganslar (D) of Maryland, allege that Caremark "engaged in deceptive business practices" by informing physicians that patients or health plans could save money if patients were switched to certain brand-name prescription drugs (Miller, Chicago Tribune, 2/14).

However, the switch often saved patients and health plans only small amounts or increased their costs, while increasing Caremark's profits, Connecticut Attorney General Richard Blumenthal (D) said (Levick, Hartford Courant, 2/15). Pennsylvania Attorney General Tom Corbett (R) said the PBM kept discounts and rebates that should have been passed on to employers and patients (Levy, AP/San Francisco Chronicle, 2/14). In addition, Caremark did not "adequately inform doctors" of the full financial effect of the switch and did not disclose that the switch would increase Caremark's profits, the lawsuit alleges (Chicago Tribune, 2/14).

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CVS (enzyme)

CVS is a terpene cyclase enzyme responsible for the biosynthesis of valencene, a sesquiterpene, using farnesyl pyrophosphate as its substrate. The first CVS enzyme was isolated using orange cDNA.

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CVS Ferrari

CVS Ferrari dates back to the 1940s, when it was previously known as FERRARI BELOTTI S.p.A. Belotti was the first company to design and build mobile handling equipment specifically for ports from their manufacturing facility on 'Ponte Canepa' wharf.

In July 2002 CVS bought Belotti. This acquisition has allowed the Ferrari Group to become a key worldwide supplier for port, railway and specialist handling equipment thanks to this fruitful marriage between history and technology.

In 1952 Belotti manufactured the first crane able to lift and transport military aircraft. In 1967 Belotti introduced the first container handling straddle carrier with side lifting capability.

The first 100 tonne capacity aircraft transporter was supplied in 1967. Belotti had since then delivered machines to armed forces worldwide.

The 50 years experience gained in supplying over 1200 machines worldwide has allowed Belotti to develop a market leading reach stacker.

CVS Ferrari and Ferrari Belotti are able to provide their customers the most complete range of materials handling equipment: yard, terminal and ro-ro tractors, trailers, forktrucks, from 10-45 tonnes, forktrucks for laden/empty container handling, reachstackers for laden/empty container handling, cont-runners, straddle carriers, coil handlers, military aircraft transporters, dumpers for mines, mobile crane carriers, rough terrain container handlers.

CVS Service is authorized to operate all around Italy and worldwide on CVS, Ferrari-Belotti and Kalmar machines and to provide assistance to Still forklifts in Tuscany. CVS Service can provide two lines of interventions: a light one, relevant to small/medium forklifts, and a heavy one, relevant to forklifts of big dimensions. CVS Service’s modern equipment, industrial machines, motor vehicles and lifting machines are evidence of the high standard of efficiency belonging to the whole service organization.

CVS Service employs 33 Technicians divided in four departments which are: LIGHT LINE, HEAVY LINE, INTERNAL WORKSHOP and EXTERNAL WORKSHOPS. CVS Service’s employees are skilled and prepared to provide every kind of repair required. In order to keep up with changes in process and product innovations, Technicians regularly undergo information updating and training provided by the company. They are trained on emergency tasks and are able to operate either singularly or in teamwork coordinated by a foreman for specific kind of interventions. Furthermore, CVS Service’s employees always operate according to the current law in matter of safety. Each Technician is provided with a van suitably supplied with tools for prompt action. In total there are 30 vans organized as follows: 12 for heavy line, 10 for light line, 4 available for miscellaneous purposes, 3 for the warehouse and 1 for forklifts’ transport. The whole service activity follows the norm ISO 9001:2000 (Vision 2000) according to the corporate quality system certified by R.I.N.A.

CVS Ferrari main strength is the Technical Department. Employing 14% of the entire work force, it is dedicated to the constant development of Ferrari range of products. In order to meet and satisfy all customers needs, CVS Ferrari has its own internal Research & Development department in the forefront. It is composed by several engineers who are continuously working to improve the performances and design of CVS Ferrari machines. Their research activities are finalized to provide CVS Ferrari products with the latest and most advanced new technological devices together with the highest standards of quality.

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CVS Caremark Charity Classic

The CVS Caremark Charity Classic is a professional golf tournament. It is contested annually as a two-day, two-man team event. It is held at Rhode Island Country Club in Barrington, Rhode Island. It is unaffiliated with professional golf tours. The current format and location began in 1999. Brad Faxon and Billy Andrade serve as hosts.

It was formerly a tournament on the PGA Tour from 1969 through 1998. It was held under various names at Pleasant Valley Country Club in Sutton, Massachusetts.

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Source : Wikipedia