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Cardinal Health, CVS Caremark renew distribution agreement
July 7th, 2009
DUBLIN, Ohio – Cardinal Health has renewed its distribution agreement with CVS Caremark Corp.
The company said this week that, under the pact, it will supply pharmaceuticals to CVS Caremark's national network of retail pharmacies through mid-2013. Other terms of the agreement weren't disclosed.
"We have a long-standing partnership with CVS Caremark, and we are proud to continue this important relationship," George Barrett, vice chairman of Cardinal Health and chief executive officer of the company's Healthcare Supply Chain Services segment, said in a statement.
"The footprint of the agreement is expected to be fundamentally the same as our existing relationship," Barrett added, "and the economic terms for Cardinal Health were already incorporated into our previous disclosure for fiscal 2010, given during our Investor Day event on June 2."
CVS Caremark operates more than 6,900 drug stores in over 40 states.