WOONSOCKET, R.I., June 11 /PRNewswire/ -- CVS Caremark (NYSE: CVS) today
applauded a Federal Trade Commission (FTC) report issued this week for its
pro-consumer leadership in the debate about how to create a legislative
pathway for the approval of biogenerics that reasonably balances innovation
with competition.
Dave Golding, R.Ph., Executive Vice President for Specialty Pharmacy
services at CVS Caremark, participated in an FTC Roundtable event last fall on
the issue. In addition, the company has provided data to the Commission to
assist in its research.
"CVS Caremark serves hundreds of thousands of patients who rely on
specialty and other biologic medicines to provide life-saving treatments for
their conditions. The FTC's expertise and their findings in support of a
legislative pathway allowing the Food and Drug Administration to approve
biogenerics in light of market-based competition that drives innovation should
be heeded by Congress as we consider health care reform," Golding said.
"CVS Caremark supports the Promoting Innovation and Access to Life-Saving
Medicine Act because it represents bipartisan legislation that seeks to give
patients access to safe and affordable medicines, even while fostering
pharmaceutical innovation. Increased competition in the biologics market will
benefit health plans, employers and federal programs, and more importantly,
will help make these medicines more affordable for patients, many of whom must
take these medicines for their entire lives," he said.
About CVS Caremark
CVS Caremark is the largest provider of prescriptions in the nation. The
Company fills or manages more than 1 billion prescriptions annually. Through
its unmatched breadth of service offerings, CVS Caremark is transforming the
delivery of health care services in the U.S. The Company is uniquely
positioned to effectively manage costs and improve health care outcomes
through its more than 6,900 CVS/pharmacy and Longs Drugs stores; its Caremark
Pharmacy Services division (pharmacy benefit management, mail order and
specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic;
and its online pharmacy, CVS.com. General information about CVS Caremark is
available through the Investor Relations section of the Company's Web site, at
www.cvscaremark.com/investors, as well as through the press room section of
the Company's Web site, at www.cvscaremark.com/newsroom.
Media Contact:
Christine Cramer
Corporate Communications
CVS Caremark
ckcramer@cvs.com
(401) 770-3317
Steve Campanini
Corporate Communications
CVS Caremark
slcampanini@cvs.com
(401) 770-5005
SOURCE CVS Caremark
