|Day's Range||5.65 - 6.05|
A longstanding fast food restaurant at Preston and Broadway in downtown Louisville will soon be removed. CVS Health Corp. has scooped up several parcels in the 400 block of East Broadway where it is planning to construct a nearly 10,000-square-foot pharmacy and retail store, according to plans filed with Louisville Metro Government. The filings state that the roughly 9,600-square-foot store will be located at 400 E. Broadway, where a Long John Silver’s restaurant has long resided.
CVS Health Corp said on Thursday it will make it easier for patients with advanced cancer enrolled in some Aetna insurance plans to receive broad genetic gene sequencing tests that can help identify the best drug or treatment for them. CVS has been running an oncology program in 12 states in which patients prescribed treatment regimens that follow National Comprehensive Cancer Network guidelines automatically receive prior authorization approval, speeding the time to starting their treatment. It will now add easier access to broad-panel gene sequencing tests to that program for patients in its at-risk Aetna plans, Alan Lotvin, CVS' chief transformation officer, said in an interview.
As part of its commitment to building healthier communities, CVS Health (NYSE: CVS) today announced it will be providing $750,000 over the next three years to the national Harm Reduction Coalition to improve the health and wellness of California residents impacted by prescription opioid misuse and abuse.
CVS Health (NYSE: CVS) today announced Transform Oncology Care™, anchored on a first-of-its-kind precision medicine strategy for payors. The program uses genomic testing results at the point-of-prescribing to help patients start on the best treatment, faster and in addition, matches eligible patients to clinical trials. Transform Oncology Care also uses the Company's local footprint and unique assets to improve patient outcomes and lower overall costs at every point of the cancer care journey.
California is fining the nation’s largest pharmacy health care provider a record $3.6 million for failing to redeem deposits on bottles and cans at some of its locations, regulators said Monday.
Moody's Investors Service ("Moody's") today upgraded Rite Aid Corporation's ("Rite Aid") Probability of Default rating to Caa1-PD from Caa3-PD and appended the PDR with the "/LD" (limited default) designation. There is no change in the company's SGL-3 speculative grade liquidity rating.
CVS Pharmacy, the retail division of CVS Health (NYSE: CVS), announced today that it has completed the rollout of time delay safes in all of its 58 CVS Pharmacy locations in West Virginia, including pharmacies located in Target stores. The safes are anticipated to help prevent pharmacy robberies and the diversion of controlled substance narcotic medications by keeping them out of the hands of unauthorized individuals. In addition, the safes are anticipated to help CVS Pharmacy ensure the safety and well-being of its customers and employees.
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(Bloomberg Opinion) -- The merger floodgates broke open five years ago, and now U.S. Senator Elizabeth Warren wants to close the hatch. Her proposed bill to substantially restrict big corporate tie-ups is more a presidential campaign statement than viable legislation — and it certainly won’t score her any more points with the Wall Street crowd — but she is calling attention to the maniacal pace of dealmaking in corporate America and the need to modernize antitrust laws that have permitted some recent problematic transactions.More than $7 trillion of takeovers of U.S. companies have been announced since this day in 2014 — 52,694 companies to be exact.(1) That compares with just $4.4 trillion of deals in the previous five-year period. The transactions grew over time as balance sheets flush with cash and income statements desperate for growth created a perfect storm, which more often than not was stoked by pliable regulators. The Walt Disney Co. acquired 21st Century Fox Inc.; Charter Communications Inc. bought Time Warner Cable Inc.; CVS Health Corp. took over Aetna Inc.; Marriott International Inc. merged with Starwood Hotels & Resorts Worldwide Inc.; and T-Mobile US Inc. is trying to buy Sprint Corp. Those are just some of the more recognizable names. Warren, one of the top-polling candidates heading into the Democratic primaries, wants to ban deals in which one company has annual revenue of more than $40 billion, or both businesses generate more than $15 billion in sales, according to a draft of the bill reviewed by Bloomberg News. (A notable exception would be companies facing insolvency.) That could effectively prevent every top airline, insurer, manufacturer, oil producer, retailer, technology platform and other conglomerates — perhaps even Warren Buffett’s M&A vehicle, Berkshire Hathaway Inc. — from making any acquisitions. It would sound the M&A death knell. The idea, however, is unlikely to gain broad support among lawmakers.Even so, it’s hard not to notice the rising drumbeat of politicians concerned about overreach by corporate giants, particularly those in the tech field. Senator Amy Klobuchar, another Democratic presidential candidate, plans to introduce separate antitrust legislation soon, Bloomberg News reported, citing a person familiar with the matter. (Michael Bloomberg, the founder and majority owner of Bloomberg LP, the parent of Bloomberg News and Bloomberg Opinion, is also campaigning for president.)For the Trump administration’s part, the U.S. Justice Department is already investigating whether tech giants — namely Apple Inc., Amazon.com Inc., Facebook Inc. and Google — are using their unchecked power to engage in harmful business practices. But as I wrote in July, if regulators are so concerned about protecting consumers from tech overreach, their glowing endorsement of T-Mobile’s takeover of Sprint is a funny way of showing it; it will shrink the U.S. wireless market from four to three major carriers and remove a company that’s helped to keep customer prices in check.Antitrust regulation under President Donald Trump has at times created questionable optics. Makan Delrahim, the Justice Department’s top antitrust enforcer, seemed to switch his stance on AT&T Inc.’s takeover of Time Warner Inc. as Trump railed against the deal. Time Warner was the parent of CNN, which Trump views as his personal nemesis. (I’ve argued that whatever the case, scrutiny of the megamerger was warranted considering the broad market power it gave to AT&T as media companies without such scale struggle to compete.) By comparison, Disney and Fox, which was controlled by Trump pal Rupert Murdoch, closed their megadeal with few regulatory hiccups. Warren has criticized other giant deals, such as the merger of SunTrust Banks Inc. and BB&T Corp. and the combination of seed makers Bayer AG and Monsanto Co. Given that they aren’t household names, though, most Americans are unfazed by or unaware of such deals, even though they may feel the effects later. Her bill would direct the government to take into account not just whether a merger will lead to higher prices but also what the impact might be on workers, privacy and industry innovation. To justify the cost of buying another large company, dealmakers tend to come up with ambitious estimates of synergies, a euphemism for layoffs. It’s clear that the meaning of “harm” needs to be expanded in the antitrust sense, and laws need to take a more holistic view of the potential consequences of M&A as the lines between industries continue to blur. The Big Tech factor also needs to be weighed, as some deals are being done in part to respond to companies like Amazon that are spreading their tentacles into new areas. On Wednesday, TV-network operators CBS Corp. and Viacom Inc. completed their own merger, a bid to cut costs and create more scale to compete against a new roster of even more powerful media giants: Amazon, Apple, AT&T and Disney. Even then, ViacomCBS Inc., as the merged entity is now called, may not be big enough, and so it may be only a matter of time before it gets swallowed. Warren’s overly broad proposal likely isn’t the answer. But Democrats do seem ready to at least try to rein in a market that’s gotten out of hand. For dealmakers, this may be last call at the M&A party.(1) Data compiled by Bloomberg as of Thursday morning. Excludes terminated deals.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
As part of its commitment to building healthier communities, the Aetna Foundation today announced it will be donating a total of $1 million to the Boys & Girls Clubs of Providence and Hartford. Both locations will receive $500,000 over the next five years.
CVS Health Corporation (NYSE: CVS) today announced it has successfully completed the first year of combined operations following the acquisition of Aetna in late 2018. The combined company has met or exceeded its first-year integration goals while introducing new, consumer-focused offerings as a result of its unmatched capabilities. CVS Health remains on track to meet its most recent 2019 net synergy guidance and remains confident in its net synergy targets for 2020 and 2021.
Between 2006 and 2012, the data shows more than 2.5 billion prescription pain pills were supplied to North Carolina.
UPS tapped a leader to oversee the company's new health-care unit that's aimed at pharmaceutical, biopharma and medical device companies.