CVS Caremark Appoints Randy Falkenrath Senior Vice President of Specialty Pharmacy

Thursday, December 1, 2011

WOONSOCKET, R.I., Dec. 1, 2011 /PRNewswire/ -- CVS Caremark (NYSE: CVS) today announced the appointment of Randy Falkenrath to the position of Senior Vice President, Specialty Pharmacy. In this role, Falkenrath will be responsible for the ongoing development of clinical programs and product management to support the company's Specialty Pharmacy business.

Falkenrath brings more than twenty-six years of experience in the health plan, pharmaceutical and medical device industries to his new position at CVS Caremark. Over the past nine months, Falkenrath worked within the company's Specialty Field Operations group. Prior to joining CVS Caremark, Falkenrath was Senior Vice President of Specialty Pharmacy and Business Development for UnitedHealthcare's commercial pharmacy benefit management (PBM) business. Previously, Falkenrath was a partner in the life sciences consulting division of Computer Sciences Corporation (CSC) and also held leadership positions at Baxter International, Inc., and Searle Pharmaceuticals.

"Specialty Pharmacy is an important growth area for CVS Caremark over the next few years, and Randy Falkenrath's in-depth experience and knowledge of the industry make him uniquely qualified to lead our Specialty Pharmacy business," commented Jon Roberts, Executive Vice President and Chief Operating Officer for the CVS Caremark PBM business. "His expertise will enable us to continue to enhance our specialty pharmacy leadership and identify further opportunities for integration across the CVS Caremark enterprise so we can better help patients dealing with complex, debilitating diseases on their path to better health."

Falkenrath holds a bachelor's degree from Northwestern University and a master's in Business Administration from Northwestern University's Kellogg Graduate School of Management.

About CVS Caremark

CVS Caremark is the largest pharmacy health care provider in the United States with integrated offerings across the entire spectrum of pharmacy care. We are uniquely positioned to engage plan members in behaviors that improve their health and to lower overall health care costs for health plans, plan sponsors and their members. CVS Caremark is a market leader in mail order pharmacy, retail pharmacy, specialty pharmacy, and retail clinics, and is a leading provider of Medicare Part D Prescription Drug Plans. As one of the country's largest pharmacy benefits managers (PBMs), we provide access to a network of approximately 65,000 pharmacies, including more than 7,300 CVS/pharmacy® stores that provide unparalleled service and capabilities. Our clinical offerings include our signature Pharmacy Advisor™ program as well as innovative generic step therapy and genetic benefit management programs that promote more cost effective and healthier behaviors and improve health care outcomes. General information about CVS Caremark is available through the Company's website at

Media Contact:

Christine Cramer
CVS Caremark
(401) 770-3317