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June 4, 2008

CVS wins General Electric's business

Woonsocket-based CVS Caremark Corp. won General Electric Co.'s pharmacy benefits business from rival Medco Health Solutions Inc., effective Jan. 1.

Analysts estimate GE represents roughly $1 billion in annual pharmacy-benefits management business. A CVS spokesman confirmed the move, the Wall Street Journal reported in this morning's editions.

A Medco spokeswoman also confirmed the change, but added that Medco has had an "excellent sales year," with wins of clients from CVS Caremark.

Posted by John Kostrzewa  at 9:02 AM | Permalink

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