Now it is official: CVS Corporation (NYSE: CVS) has entered into a merger agreement with pharmacy benefit management company Caremark Rx, Inc. (NYSE: CMX) in a stock deal valued at about $21 billion.
This merger, which combines CVS' PBM, PharmaCare, with Caremark, will create a new company to be called CVS/Caremark Corporation.
Combined projected revenues for CVS and Caremark for 2006 are estimated to be about $75 billion, after adjusting for intercompany transactions, and the new business is expected to fill or manage more than one billion prescriptions per year.
Click here for more information on the CVS/Caremark merger.
Source: CVS Pressroom
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