WOONSOCKET, R.I.--(BUSINESS WIRE)--May. 15, 2009-- 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 http://investors.cvshealth.com. In a series of senior executive presentations, in addition to reiterating its recently increased earnings guidance, the Company highlighted the following:
Proactive Pharmacy Care is gaining traction. While still very early in the 2010 selling season, the Company has already won close to $1 billion in gross annualized revenues in the 2010 selling season.
The number of clients adopting Maintenance Choice has increased from approximately 200 clients comprising 2.4 million lives to 250 clients comprising 2.8 million lives.
The integration of the Longs Drug Stores is proceeding on track and will be complete in the fourth quarter of this year.
In response to a question posed today during its meeting, the Company is clarifying that approximately 26% of its PBM revenues are scheduled for contractual renewal in 2010. Of course, as is common in the industry, certain client contracts contain early termination rights or similar provisions that could result in an unscheduled re-pricing event.
About the Company:
CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of health care services in the U.S. The Company is uniquely positioned to effectively manage costs and improve health care outcomes through its more than 6,900 CVS/pharmacy and Longs Drugs stores; its Caremark Pharmacy Services division (pharmacy benefit management, mail order and specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS Caremark is available through the Investors section of the Company’s Web site, at cvshealth.com, as well as through the Newsroom section of the Company’s Web site, at https://cvshealth.com/newsroom.
This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company strongly recommends that you become familiar with the specific risks and uncertainties outlined under Part I, Item 1A – Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2008.
Nancy Christal, 914-722-4704
Senior Vice President
Eileen Howard Dunn, 401-770-4561
Senior Vice President
Corporate Communications &
Source: CVS Caremark Corporation