CVS Caremark PBM Terminates Walgreens Contract

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Caverject

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Its fun watching all this go down! Hopefully the federal government gets involved. Interesting spin CVS is using...

http://www.pharmacistelink.com/inde...-of-prescription-drug-deal-with-Walgreen.html

In 29 days, CVS Caremark Corp. will kick Walgreen Co. out of its pharmacy benefit network because of a dispute over reimbursement rates. But CVS Caremark said Wednesday that customers won't miss much.

CVS Caremark is known for operating a drugstore chain, but it also manages a prescription drug program for 2,200 corporate clients who represent 53 million people. As a pharmacy benefit manager, CVS Caremark is responsible for processing and paying prescription drug claims and negotiating reimbursement rates with pharmacies. Many of them are also competitors, like Walgreen.

However, Walgreen is not happy with what CVS Caremark is paying. On Monday, Walgreen said it would not participate in any new or renewed CVS pharmacy benefit plans. In response, CVS Caremark sped up the separation to be effective in 29 days, which includes existing benefit plans involving Walgreen.

"We are disappointed but not surprised that CVS Caremark has taken this action," Kermit Crawford, executive vice president of pharmacy at Walgreen, said in a written statement.

"Their patent disregard for patient choice and broad access reflected in today's decision reinforces our conviction that it would not have been in the best interests of our patients, pharmacists or shareholders to grow our business with CVS Caremark."

CVS Caremark would not pinpoint its number of corporate Texas clients.

Prescription drug users will not be affected if their employer does not use CVS Caremark as its pharmacy benefit manager. Even if it does, CVS Caremark says that of its 64,000 pharmacy participants, only 7,000 are Walgreen stores.

CVS Caremark said 85.9 percent of its members have access to a network pharmacy within a 3-mile radius of where they live. When Walgreen is excluded from the network, the number changes to 85.7 percent.

Tom Ryan, chairman and chief executive of CVS Caremark, said he regrets any inconvenience the change may have for members who use Walgreen.
 
Let the pissing contest begin:

pissing.jpg
 
Gosh it's almost as if allowing a large drug store chain to control a pharmacy benefits company is a direct conflict of interest that is going to allow them to shunt prescriptions their way. I can't for the life of me understand how it was that this merger was allowed to happen. I am just shocked!
 
Maybe Walgreens can merge with Medco or Argus to even the playing field.
Too bad it's the patients that have to suffer in this kind of unhealthy competition.
 
Maybe Walgreens can merge with Medco or Argus to even the playing field.
Too bad it's the patients that have to suffer in this kind of unhealthy competition.

How are the patients suffering?

It the pharmacies that are suffering and by default the pharmacist. PBM's have nealry ruined the profession along with CVS and Walgreens who refuse to stand up to them and reject their ****ty contracts..
 
Look like CVS pulled out the white flag on this one after realizing we were going to come out on top in the end:

WOONSOCKET, R.I., and DEERFIELD, Ill., June 18, 2010 – CVS Caremark Corporation (NYSE: CVS) and Walgreens (NYSE: WAG) (NASDAQ: WAG) today announced that the companies have reached an agreement on terms under which Walgreens will continue participating in the CVS Caremark pharmacy benefit management (PBM) national retail network for existing, new or renewal plans. The companies are not disclosing the financial terms of the new contract.

"We are very pleased with the outcome of this mutual, multi-year agreement that meets our business objectives," said Walgreens Executive Vice President of Pharmacy, Kermit Crawford. "The agreement makes good business sense, provides the framework we need to operate our business going forward, and assures choice and convenience for the many consumers who look to us for quality pharmacy care. The agreement is good for our patients, pharmacists and shareholders, and will allow us to continue to meet the needs of our customers across the country through the CVS Caremark network."

Per Lofberg, President of CVS Caremark's pharmacy benefit management business, said, "We are pleased to have reached a mutually agreeable solution together with Walgreens that is consistent with our top priority to provide convenient access to affordable high-quality pharmacy health care. This new contract enables Walgreens to continue participating in CVS Caremark's PBM national pharmacy network, provides enhanced network stability, eliminates any current or long-term disruption for our clients or their members and allows us to continue to fulfill our obligation to deliver cost-effective pharmacy benefits for our clients."

With the continuing participation of Walgreens, the CVS Caremark national pharmacy network will have more than 64,000 participating pharmacies, including neighborhood independent pharmacies, chain pharmacies, and those located in supermarkets and other major retailers.

 
Look like CVS pulled out the white flag on this one after realizing we were going to come out on top in the end:

WOONSOCKET, R.I., and DEERFIELD, Ill., June 18, 2010 – CVS Caremark Corporation (NYSE: CVS) and Walgreens (NYSE: WAG) (NASDAQ: WAG) today announced that the companies have reached an agreement on terms under which Walgreens will continue participating in the CVS Caremark pharmacy benefit management (PBM) national retail network for existing, new or renewal plans. The companies are not disclosing the financial terms of the new contract.

"We are very pleased with the outcome of this mutual, multi-year agreement that meets our business objectives," said Walgreens Executive Vice President of Pharmacy, Kermit Crawford. "The agreement makes good business sense, provides the framework we need to operate our business going forward, and assures choice and convenience for the many consumers who look to us for quality pharmacy care. The agreement is good for our patients, pharmacists and shareholders, and will allow us to continue to meet the needs of our customers across the country through the CVS Caremark network."

Per Lofberg, President of CVS Caremark’s pharmacy benefit management business, said, "We are pleased to have reached a mutually agreeable solution together with Walgreens that is consistent with our top priority to provide convenient access to affordable high-quality pharmacy health care. This new contract enables Walgreens to continue participating in CVS Caremark’s PBM national pharmacy network, provides enhanced network stability, eliminates any current or long-term disruption for our clients or their members and allows us to continue to fulfill our obligation to deliver cost-effective pharmacy benefits for our clients."

With the continuing participation of Walgreens, the CVS Caremark national pharmacy network will have more than 64,000 participating pharmacies, including neighborhood independent pharmacies, chain pharmacies, and those located in supermarkets and other major retailers.


damn - I was just going to post this... I think we all lose this time. Somewhere, a fairy just lost it's wings 🙁
 
damn - I was just going to post this... I think we all lose this time. Somewhere, a fairy just lost it's wings 🙁


Yea, personally I would have rathered rejected CVS's proposal but no one knows the motive behind WAG's acceptance. It says financial details were not disclosed but Im sure it was a pretty penny!
 
I'm not surprised that this has been worked out. This was not a good situation for both sides. The good thing is that the proposed tech hour cuts due to this will probably be rescinded.
 
Yea, personally I would have rathered rejected CVS's proposal but no one knows the motive behind WAG's acceptance. It says financial details were not disclosed but Im sure it was a pretty penny!

Because you are a ***** (read extremely young and naive) pharmacy student. Walgreens tried to bluff Caremark by claiming they were canceling. But since they were really canceling only future contracts, they thought it would cause Caremark to lose future contracts and would have little effect on Walgreens bottom line,thereby inducing Caremark to increase their reimbursement. But Caremark can play hardball as well anybody and they canceled Wags effective immediately and now they were forced to have their sales reduced by 7% ASAP.

So now the two giants had to make a deal. If Caremark didn't make a deal their network would not be as attractive as Express Scripts and Medco. If Walgreens didn't make a deal they faced an immediate 7% decrease in revenue. You know what the market would have done if that came to pass. Their stock would fall faster than a penny off of the Empire State Building.....
 
Because you are a ***** (read extremely young and naive) pharmacy student. Walgreens tried to bluff Caremark by claiming they were canceling. But since they were really canceling only future contracts, they thought it would cause Caremark to lose future contracts and would have little effect on Walgreens bottom line,thereby inducing Caremark to increase their reimbursement. But Caremark can play hardball as well anybody and they canceled Wags effective immediately and now they were forced to have their sales reduced by 7% ASAP.

So now the two giants had to make a deal. If Caremark didn't make a deal their network would not be as attractive as Express Scripts and Medco. If Walgreens didn't make a deal they faced an immediate 7% decrease in revenue. You know what the market would have done if that came to pass. Their stock would fall faster than a penny off of the Empire State Building.....

So what are the potential outcomes/implications here, folks?
 
Walgreens is a 60 billion dollar corporation and CVS/Caremark is an almost 100 billion dollar corporation. These are two corporate giants doing battle. I think CVS is the winner long term. They gave Wags some up front money and that gives them time to build market share in areas where WAGS currently dominates. Once they do that then WAGS will be at their mercy so if they try this *****ic stunt again, CVS will tell them to take their 7000 stores and shove them where the sun don't shine......
 
Walgreens is a 60 billion dollar corporation and CVS/Caremark is an almost 100 billion dollar corporation. These are two corporate giants doing battle. I think CVS is the winner long term. They gave Wags some up front money and that gives them time to build market share in areas where WAGS currently dominates. Once they do that then WAGS will be at their mercy so if they try this *****ic stunt again, CVS will tell them to take their 7000 stores and shove them where the sun don't shine......

I have to disagree. Walgreens won, short and long term. For short, they probably got better reimbursement and for long, this just confirms to the insurance companies that doing business with Caremark is risky. Remember, CVS is not just competing with Walgreens anymore. They are also competing with Express Scripts, Medco.
 
I have to disagree. Walgreens won, short and long term. For short, they probably got better reimbursement and for long, this just confirms to the insurance companies that doing business with Caremark is risky. Remember, CVS is not just competing with Walgreens anymore. They are also competing with Express Scripts, Medco.

Almost none of the analysts agree with you. Why is it risky for insurance companies to do business with Caremark? What happens when there is no market where Walgreens has a monopoly? Then if they drop out so what? There will be no effect as either CVS, regional chains or independents will have the market covered. Walgreens could not have long tolerated a loss of 7 billion dollars per year when sales are 63 billion. The market looks down upon people whose sales don't grow. When you go out on a limb and you are not prepared to jump you are like the kid who cried wolf.
 
Almost none of the analysts agree with you.

Really? This is just one of many examples:

http://www.reuters.com/article/idUSN152238920100615

That is not about Walgreens and CVS. It is about Caremark and its PBM competitors. Patients don't like restrictions and they sure do not like uncertainty when it comes to their healthcare. Insurance companies know that .

I can post other similar articles but I think you got the point. Although I don't see how CVS won in the long run, I respect your view but there is really no need to call people names, just because they don't agree with you.
 
Really? This is just one of many examples:

http://www.reuters.com/article/idUSN152238920100615

That is not about Walgreens and CVS. It is about Caremark and its PBM competitors. Patients don't like restrictions and they sure do not like uncertainty when it comes to their healthcare. Insurance companies know that .

I can post other similar articles but I think you got the point. Although I don't see how CVS won in the long run, I respect your view but there is really no need to call people names, just because they don't agree with you.

The article is from BEFORE the settlement. Patient's don't pick their insurance, employers and insurance companies do. So who cares what patient's think. It's the major flaw in our entire system. The payer and consumer are NOT the same person. In the long term this benefits CVS/Caremark and not Walgreens for the reasons I laid out earlier.
 
Because you are a ***** (read extremely young and naive) pharmacy student. Walgreens tried to bluff Caremark by claiming they were canceling. But since they were really canceling only future contracts, they thought it would cause Caremark to lose future contracts and would have little effect on Walgreens bottom line,thereby inducing Caremark to increase their reimbursement. But Caremark can play hardball as well anybody and they canceled Wags effective immediately and now they were forced to have their sales reduced by 7% ASAP.

So now the two giants had to make a deal. If Caremark didn't make a deal their network would not be as attractive as Express Scripts and Medco. If Walgreens didn't make a deal they faced an immediate 7% decrease in revenue. You know what the market would have done if that came to pass. Their stock would fall faster than a penny off of the Empire State Building.....


WOW...ok I have respect for you by the wisdom and knowledge displayed in your posts on SDN but seriously calling someone a ***** who has more insight than most when it comes to the dealings of corporate pharmacy???? Ok.

If you watched the market on the day of both companies annoucements stock prices dropped simultaneously
(obviously the initial financial impact was taken into consideration by both parties). True, in the interim either company would not have been better off but in the long run the decisions made by both companies would of played to WAG's advantage.

Where did this 7% figure come from? Since we are talking numbers I have one....57%, which is the amount of market share WAG consumes in all major US cities. If you believe for one second that the "truce" that was annouced on 6/18 wasnt a result of CVS rethinking their strategy you are sadly mistaken.

In the end CVS attempted to play hardball back with WAG and lost! WAG gets the reimbursement rates they wanted and thats all that initially mattered from the beginning.

What would you do if you were CVS and almost every major consultant, analyst, and whoever else you rely on to guide your decision making told you that you were making a bad decision?
 
WOW...ok I have respect for you by the wisdom and knowledge displayed in your posts on SDN but seriously calling someone a ***** who has more insight than most when it comes to the dealings of corporate pharmacy???? Ok.

It was a poor choice of words, but if you read I self defined it as young and naive)

If you watched the market on the day of both companies annoucements stock prices dropped simultaneously
(obviously the initial financial impact was taken into consideration by both parties). True, in the interim either company would not have been better off but in the long run the decisions made by both companies would of played to WAG's advantage.

As I explained, this was a short term advantage for Walgreens. That's why their stock went up a little. The market cares about now and not years from now. Click on this link. Then change the view to one week and then add WAG as a comparison and tell how much difference there really is.

Where did this 7% figure come from? Since we are talking numbers I have one....57%, which is the amount of market share WAG consumes in all major US cities. If you believe for one second that the "truce" that was annouced on 6/18 wasnt a result of CVS rethinking their strategy you are sadly mistaken.

If you want to compare Walgreens as a business to CVS as a business that's for another thread entirely. I won't address the myriad of corporate f-ups at Walgreens that allowed CVS to go from a regional chain with 5 billion in sales to a the number 1 or 2 chain in the country with sales of 94 billion. Walgreens changed CEO's re-did their entire front store merchandising brining in people from Walmart to help them because CVS ate their lunch.

As for the figures, they are all over the news:
Reimbursement from Caremark represents 7 percent of Walgreen's total revenue of approximately $4.6 billion."
]http://chicagobreakingbusiness.com/2010/06/walgreens-cvs-to-end-network-relationship.html

In the end CVS attempted to play hardball back with WAG and lost! WAG gets the reimbursement rates they wanted and thats all that initially mattered from the beginning.

No that's not all that matters. It's what matters now. CVS does not penetration into every market. Once they do, it doesn't matter if Walgreens drops out like it does now. They give Walgreens a few shekels now for the time required to make Walgreens departure inconsequential.

What would you do if you were CVS and almost every major consultant, analyst, and whoever else you rely on to guide your decision making told you that you were making a bad decision?

You execute on your plan.

big.chart

CVS vs Walgreens 5 years

big.chart

CVS v Walgreens the last 10 years.
html-ichart.asp
 
If you want to compare Walgreens as a business to CVS as a business that's for another thread entirely. I won't address the myriad of corporate f-ups at Walgreens that allowed CVS to go from a regional chain with 5 billion in sales to a the number 1 or 2 chain in the country with sales of 94 billion. Walgreens changed CEO's re-did their entire front store merchandising brining in people from Walmart to help them because CVS ate their lunch.

Wow you are right! CVS has had a great business plan! If you consider bending, breaking, ignoring or out right destroying the laws pertaining to pharmacy and business a good business plan. CVS sure ate everyone's lunch on that! I guess Walgreens f-ed up by not breaking the law? We will see how well the "analysts" you talk about like CVS after, the HMS, DEA, and FTC get done bending them over.

CVS faces probes by FTC, HHS, DEA; CEO Ryan to retire
Jun 15, 2010
By: Lynn Shapiro
Drug Topics

Both the FTC's consumer protection bureau and its competition bureau are spearheading an investigation into monopolistic practices alleged to have been practiced by CVS Caremark since Ryan spearheaded the acquisition of Caremark in 2007.

"Another trick they use is good cop, bad cop. First, Caremark aggressively audits the pharmacies, taking back money for drugs that were properly dispensed, but where the I's weren't dotted and T's weren't crossed. Then the good cop comes in and says, 'Aren't you tired of audits? Why don't you sell your business to CVS?'"

Meanwhile, in April, the Change to Win (CtW) Investment Group filed a letter of complaint with the Securities and Exchange Commission (SEC), seeking an insider trading inquiry, PR Newswire reported. CtW represents pension funds sponsored by unions with a combined membership of 5.5 million individuals.

CVS is also being probed by the U.S. Department of Health and Human Services (HHS) Office of Inspector General for allegedly offering potential customers gift cards, cash, merchandise, or discounts for transferring their prescriptions to CVS. The investigation is part of a larger probe by the HHS into "possible false or improper" Medicare and Medicaid claims made by the company, reported by the Providence Business News in May.

Dow Jones also reported in May that the U.S. Drug Enforcement Administration (DEA) is investigating CVS for allegedly continuing to sell the decongestant pseudoephedrine at drugstores in late 2007 and 2008, defying regulations that the drug be strictly sequestered behind pharmacy counters to prevent easy consumer access that might encourage its use in methamphetamine production.


I guess you are right! CVS has ate everyone's lunch when it comes to breaking the law, unethical business practices, destroying the profession and embodying all that is wrong with retail pharmacy today. Be proud! Go CVS!!!!
 
Mountain, I didnt want to break out all the articles regarding the probe, unethical businesses practices and shady timing of the CEO stepping down ( but thanks for doing it! 😉)

Nice percent change charts Old Timer, the only problem is they dont accurately reflect stock price or true earnings from WAG and CVS. If WAG's PBM book of business was a 1/4 of what CVS's is there wouldnt be room for discussion as far as earnings are concerned.
 
Mountain, I didnt want to break out all the articles regarding the probe, unethical businesses practices and shady timing of the CEO stepping down ( but thanks for doing it! 😉)

Good because it has nothing to do with the discussion at hand. Also remember that The Mountain Man works retail in Texas for a grocery chain. He hates his job, he hates his life and he hates is wife & kids for all I know. He is the most negative pharmacist I know. Just so you know, anything he says is jaded by his personal negativity. Also since you are brushing up on your reading comprehension, The CEO did not step down. He announced his retirement effective next year. His right hand man will assume his position and they will have a three person team Tom Ryan (current CEO), Larry Merlow (incoming CEO) and Per Lofberg (Head of Caremark) performing the CEO duties during the transition. So he is still there and is not running away....

Nice percent change charts Old Timer, the only problem is they dont accurately reflect stock price or true earnings from WAG and CVS. If WAG's PBM book of business was a 1/4 of what CVS's is there wouldnt be room for discussion as far as earnings are concerned.

It accurately reflects how the stock has grown over the time period in question. Walgreens has not been performing well. That's why their stock price has not done well. Your analogy about the PBM at Walgreens being smaller than Caremark is nonsensical. That's like saying Kroger would be better than Walgreens but they don't have 7000 stores.
 
Good because it has nothing to do with the discussion at hand. Also remember that The Mountain Man works retail in Texas for a grocery chain. He hates his job, he hates his life and he hates is wife & kids for all I know. He is the most negative pharmacist I know. Just so you know, anything he says is jaded by his personal negativity.

Your analogy about the PBM at Walgreens being smaller than Caremark is nonsensical. That's like saying Kroger would be better than Walgreens but they don't have 7000 stores.

Not to beeline towards a tangent from the thread, but how would you know this? Im fairly new to SDN so I am not fully aware of the connections members have off-line (whether it be personal or professional).

The only reason I drew a comparison to the two PBM's is for the same reason of the CVS/Caremark merger. Was not the purpose of the merger to package the biggest and most profitable PBM business with a retail chain that wanted to compete on the grand scale?
 
Not to beeline towards a tangent from the thread, but how would you know this? Im fairly new to SDN so I am not fully aware of the connections members have off-line (whether it be personal or professional).

Just read his threads. There are people who see the glass as 1/2 full and those that see the glass as 1/2 empty. This guy sees the glass as all the way empty. He is just an angry and bitter man who should just be avoided. Even when he does make a salient point, it's the case of the blind squirrel getting an acorn once in a while.

The only reason I drew a comparison to the two PBM's is for the same reason of the CVS/Caremark merger. Was not the purpose of the merger to package the biggest and most profitable PBM business with a retail chain that wanted to compete on the grand scale?

I think they saw the entire health care system changing and they wanted to create an entirely new model with complete care from the Minute Clinic to the Retail store to the PBM. They want to be an integrated health care company. In reality pharmacy is one of the few parts of the health care system without closed networks. Plans say what doctors, hospitals, labs, x-rays centers you can use. It's all about controlling costs. They want to sell comprehensive services to their clients and that makes them stand out when competing with Medco and Express scripts. They were more worried about mandatory mail order in a government run plan and having 7000 retail locations to fill Amoxicillin and Tylenol #3 scripts.....
 
Good because it has nothing to do with the discussion at hand. Also remember that The Mountain Man works retail in Texas for a grocery chain. He hates his job, he hates his life and he hates is wife & kids for all I know. He is the most negative pharmacist I know. Just so you know, anything he says is jaded by his personal negativity. Also since you are brushing up on your reading comprehension, The CEO did not step down. He announced his retirement effective next year. His right hand man will assume his position and they will have a three person team Tom Ryan (current CEO), Larry Merlow (incoming CEO) and Per Lofberg (Head of Caremark) performing the CEO duties during the transition. So he is still there and is not running away....



It accurately reflects how the stock has grown over the time period in question. Walgreens has not been performing well. That's why their stock price has not done well. Your analogy about the PBM at Walgreens being smaller than Caremark is nonsensical. That's like saying Kroger would be better than Walgreens but they don't have 7000 stores.

Seriously? That is the best you can do? Some random insults to defend the massive law breaking and wrong doing of your beloved CVS. You are an old idiot. CVS is a terrible company. They treat their employess like chit and now apparemtly treat the law like chit. You are one of the biggest idiot pharmacists I have ever run across. Keep cheer leading for CVS all the way to jail you idiot.
 
I am watching Mountain PharmD with excitement.
 
Seriously? That is the best you can do? Some random insults to defend the massive law breaking and wrong doing of your beloved CVS. You are an old idiot. CVS is a terrible company. They treat their employess like chit and now apparemtly treat the law like chit. You are one of the biggest idiot pharmacists I have ever run across. Keep cheer leading for CVS all the way to jail you idiot.

This is a funny post, but true.
 
This forum would not be complete without Sparda's images and the feud between the pro/con CVS peeps. I love you guys 😍
 
This forum would not be complete without Sparda's images and the feud between the pro/con CVS peeps. I love you guys 😍

I dreaded going to work for CVS...everyday was the same crap...for 5 years...
 
Sine any thread can be derailed it's amazing to see the response of people. It's nice to know MountainPharmD has proven Pavlov correct. He is on my ignore list. I only see his posts if someone quotes him. Just say the word CVS and he drools like a rabid dog. If you were to say CVS gave money to charity, he would find something to complain about. If it was reported tomorrow that Tom Ryn walked on water be would post a new topic entitled Tom Ryan can't swim. I could care less about the ravings of a bitter and unhappy man who could best be described by this cut from Good Morning Vietnam. Start at about 3:30
[YOUTUBE]http://www.youtube.com/watch?v=jGh-fxsMikk[/YOUTUBE]
http://www.imdb.com/name/nm0000245/

This is a discussion about the relative financial strengths of two massive companies who decided to have a giant pissing contest and the quickly thought otherwise. It has nothing to do with the way CVS operates or treats it's employees or anything else except who made out better in this transaction.
 
It's nice to know MountainPharmD has proven Pavlov correct. He is on my ignore list. I only see his posts if someone quotes him. Just say the word CVS and he drools like a rabid dog. If you were to say CVS gave money to charity, he would find something to complain about.

You put him on your ignore list but still feel the need to respond to him? That's the point then?
 
You put him on your ignore list but still feel the need to respond to him? That's the point then?

I really don't respond to him. The only reason he came up was to warn another poster that he is unusually critical of CVS. I will comment if I see something outrageous, but generally I don't go looking for his crap, sometimes it finds me and it's fun to piss him off....
 
You put him on your ignore list but still feel the need to respond to him? That's the point then?

He has been saying that for like 2 years yet he always resonds to me. Talk about Pavlovs dogs. Getting Old Idiot riled up is easier than taking candy from a baby. He is so predictable its really not fun making fun of him any more.

He is correct about one thing. I hate CVS. They are destroying our profession. They embody all that is wrong with pharmacy. The latest allegations of wrong doing should be no surprise to anyone. Yet Old Idiot continues to cheer lead and defend CVS. The dudes brain has been rotted out by two many PCI calls and 14 hour shifts.
 
He has been saying that for like 2 years yet he always resonds to me. Talk about Pavlovs dogs. Getting Old Idiot riled up is easier than taking candy from a baby. He is so predictable its really not fun making fun of him any more.

He is correct about one thing. I hate CVS. They are destroying our profession. They embody all that is wrong with pharmacy. The latest allegations of wrong doing should be no surprise to anyone. Yet Old Idiot continues to cheer lead and defend CVS. The dudes brain has been rotted out by two many PCI calls and 14 hour shifts.

He will be proven wrong when CVS/Caremark is broken up. I love when CVS says "The plan sponsor signs up for maintenance choice, we dont steer anybody to CVS"...Yeah, well no ****, when you throw that option in the plan sponsors face and say "Sign here", of course they are gonna sign...Either way, i dont care what anybody says, what they are doing is wrong, unethical and illegal...They will be broken up soon...
 
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