Internet and Catalog Retail
Company Overview of CVS Pharmacy, Inc.
CVS Pharmacy, Inc. operates an online pharmacy-shop for wellness and beauty products. It offers refill, transfer, and new prescriptions; drug information; and prescription management, mobile pharmacy, text alert, and personalized review programs. The company also sells baby and child products, including diaper and wipe, feeding and nursing, food and formula, and bath and skin care products; beauty products, such as fragrance, hair care, skin care, eye care, and nail care products; diet and nutrition products; and home health care products. In addition, it offers household products that comprise automotive products, bags, wraps and storage products, batteries and flashlights, cameras and film...
One CVS Drive
Woonsocket, RI 02895
Founded in 1969
Key Executives for CVS Pharmacy, Inc.
Chief Executive Officer of CVS Caremark and President of CVS Caremark
Chief Legal Officer and Executive Vice President of Strategy
Chief Marketing Officer of CVS Caremark Corporation and Executive Vice President of CVS Caremark Corporation
Senior Vice President of Stores -East
Compensation as of Fiscal Year 2013.
CVS Pharmacy, Inc. Key Developments
Birth Control Pill User's Negligence Claim Against Vintage Pharmaceuticals L.L.C. and CVS Pharmacy
Nov 8 13
The U.S. District Court for the Northern District of California dismissed on statute of limitations grounds an action brought by a consumer of birth control pills and the father of her child against a pharmacy company, alleging negligent failure to timely inform the plaintiffs of a product recall. In the summer of 2011, Ashley Manion purchased the birth control pill Tri-Previfem from a CVS Pharmacy. Manion later alleged that the packaging of the pills was defective because it incorrectly rotated 180 degrees, causing a mismatch between the actual sequence of pills and the sequence indicated on the package. This allegedly resulted in Manion taking placebo pills when she should have been taking active pills, and in an unintended pregnancy. Manion gave birth to a daughter on June 3, 2012. Manion and Brian Dodd sued Vintage Pharmaceuticals L.L.C. and CVS, alleging as against CVS a claim of negligence arising from CVS's alleged failure to notify the plaintiffs of a product recall involving Tri-Previfem until September 26, 2011, 11 days after the recall was issued. Manion and Dodd asserted that delay was a substantial factor in causing Manion's unintended pregnancy. CVS moved to dismiss. The district court found that in performing the drug recall activities, CVS operated as a health care provider engaged in rendering "professional services" and, as a result, was subject to a one-year statute of limitations governing the plaintiffs' negligence claim. Although the act of sending drug recall notices did not require professional training or skill, under applicable precedent, a task is not excluded from the scope of professional services simply because it does not require any particular skill, training, experience or exercise of professional judgment. The court further held the injury that commenced the limitations period was the conception, rather than the birth, of the plaintiffs' child. The essence of the complaint was that the birth control pills as packaged were defective because they were ineffective at preventing pregnancy, and the claim against CVS derived from that alleged defect. As a result, the claim was for wrongful pregnancy and not for wrongful birth.
CVS Pharmacy Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Nov 5 13
CVS Pharmacy announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net revenues of $19,483 million against $18,079 million a year ago. Operating profit was $1,012 million against $784 million a year ago. The increase in revenue was primarily driven by broad-based growth of claims as well as drug cost inflation in the specialty pharmacy business, partially offset by the impact of recent generic drug introductions.
For the nine months, the company reported net revenues of $56,593 million against $54,802 million a year ago. Operating profit was $2,186 million against $1,644 million a year ago.
CVS/pharmacy Announces Availability of Essence of Beauty(R) Fine Fragrance Bath & Body Collection
Sep 9 13
CVS/pharmacy announced new introductions to their number one best-selling fragrance and body care line, Essence of Beauty. The expanded and refreshed bath and body collection, available exclusively at the company, delivers four new evocative fragrances created by renowned perfumers and features luxurious formulations with premium ingredients in beautifully-designed packaging. The company said that with the addition of the new scent collections expertly crafted by master perfumers, as well as the launch of a new shea treatment line and the enhanced Signature Collection, the Essence of Beauty Fine Fragrance Collection brings a touch of indulgence into the everyday. The newest introductions to the comprehensive collection of pampering bath and body products allows women to choose among a variety of indulgent fragrance options crafted by expert international perfumers. Bringing their diverse experience and passion for innovation to the Essence of Beauty brand, the master perfumers drew inspiration from a variety of sources, including the duality of natural wilderness and chemistry, famed cities and exotic locations, and the imagined scents of a special photograph, childhood story, or time period in life. The Essence of Beauty Fine Fragrance Collection now consists of fourteen distinct scent offerings, including four new master-crafted scents and the Shea Indulgence treatment line. Secret Woods, Forever Paris; Wind Kissed; In The Tropics; Shea Indulgence Shea Butter Treatment. In addition, the current best-selling fragrance lines -- Sweet Paradise, Cool Rain, Sensual Night, Island Dream, Citrus Coconut, Japanese Garden, Lilies & Freesia, Sun Blossom, and White Lavender -- have been refreshed with new formulations and packaging. All fragrances are available in a variety of products, including Fine Fragrance Body Mists, Bath & Shower Gels, Body Lotions, Body & Hand Creams, and Travel Collections. Prices range between $1.99 and $12.99.
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