Detailed Analysis Available Live From HealthLeaders-InterStudy What: Live access to industry expert specializing in the pharmaceutical and managed markets Who: Chief Sales and Marketing Officer Joe Walsh How: Available to speak to media by phone and in person -- Waltham, MA at 615-369-4818
Shareholders of Caremark Rx Inc., the nation's No. 2 pharmacy benefits manager, this morning approved a $26.5 billion merger deal with drug store chain CVS Corp., the nation's No. 2 leading retail-drug chain. The votes came after months of corporate wrangling, that included lawsuits and sales pitches to investors and market analysts, as a result of a rival bid from Caremark competitor Express Scripts, the No. 3 pharmacy benefits manager.
In November, CVS November announced its plan to combine with Caremark with a bid of $12 billion, all-stock offer of 1.67 shares of CVS for each share of Caremark. However, in December, Express Scripts announced a hostile cash and stock offer of $26 billion for Caremark. CVS, in turn, increased its bid to include a $7.50 share special dividend.
Express Scripts Inc., of Maryland Heights, had asked Caremark shareholders to reject the CVS offer in favor of its hostile bid. Instead, shareholders chose to go with the CVS offer, the blessing of antitrust regulators and the approval of the Caremark's management and board of directors. The combination of these two organizations is expected to see earnings per share increase by double-digits next year.
Joe Walsh is a leading industry expert, with over 10 years experience in working with pharmaceutical and managed care organizations. He can provide insight into the effects this approval by Caremark's shareholders and combined organization will have on the pharmaceutical and managed care markets, and address questions such as:
- How will this combined organization of CVS and Caremark affect the way pharmacy benefit managers operate? - How much control will CVS have over prescription drugs and will they be able to steer Caremark's PBM customers to the drug store to get their prescriptions filled? - What impact will this merger have on the competitive environment for other retail pharmacy chains and pharmacy benefit providers?
To speak with Mr. Walsh, please contact Kelly Morphy at HealthLeaders- InterStudy at 615-369-4818 or firstname.lastname@example.org.
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PRNewswire -- March 16