CVS Caremark renews distribution agreements

SAN FRANCISCO McKesson has renewed its distribution agreement to supply CVS Caremark with branded and generic drugs, the company announced on Monday.

“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,” stated Paul Julian, EVP, group president for McKesson. “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.”

In related news, the retail giant also announced that it has renewed its distribution agreement with Cardinal Health. CVS Caremark said Cardinal Health will supply pharmaceuticals to its national network of retail pharmacies through mid-2013.

“We have a long-standing partnership with CVS Caremark, and we are proud to continue this important relationship,” said George Barrett, vice chairman of Cardinal Health and CEO of the Healthcare Supply Chain Services segment. “The footprint of the agreement is expected to be fundamentally the same as our existing relationship.”

Additional terms of the agreement were not disclosed.