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McKesson renews distribution pact with CVS Caremark

SAN FRANCISCO – McKesson Corp. on Monday said it has renewed its current distribution agreement with CVS Caremark Corp.

The pact covers the supply of brand-name and generic drugs to Woonsocket, R.I.-based CVS Caremark, according to McKesson. Terms of the agreement weren't disclosed.

"CVS Caremark’s decision to renew its agreement with McKesson is reflective of the trusted relationship between our two companies and the value McKesson has delivered to CVS Caremark over the years," Paul Julian, executive vice president and group president at McKesson, said in a statement. "McKesson’s comprehensive supply chain solutions help CVS Caremark ensure the highest levels of product availability and product integrity, empowering CVS Caremark to provide outstanding pharmaceutical care and further strengthen its competitive position."

CVS Caremark operates more than 6,900 drug stores in over 40 states.