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May 23, 2015 01:00 AM

CVS to buy pharmacy benefits provider Omnicare for $12.7 billion, and other news

Modern Healthcare
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    • CVS is buying the pharmacy benefits provider Omnicare in a deal valued estimated at $12.7 billion. The move is aimed at expanding its research into assisted-living and senior-care facilities. The planned deal comes at a good time for Omnicare. The Cincinnati-based company reported net sales of $1.7 billion in the quarter ended March 31, a 5.7% increase over the previous year’s quarter. CVS Health Corp saw an 18.2% increase in revenue of its pharmacy service segment during the three months ended March 31, 2015. The planned deal is expected to close near the end of 2015.

    • The 2nd U.S. Circuit Court of Appeals granted a preliminary injunction forcing Actavis to keep selling Namenda IR, an Alzheimer’s drug taken twice a day. Actavis had planned to pull the drug and replace it with Namenda XR, which is taken once a day. The state of New York alleged the move was meant to stifle competition from generics in violation of antitrust laws. By the time generic versions of the old drug were expected to become available in July, doctors and patients wouldn’t want to switch to them because of the convenience of taking the drug once, not twice a day, New York alleged.
    • Federal investigators say the current process to review and recommend how Medicare pays doctors leaves it susceptible to inaccurate reporting and conflicts of interests. A report released by the Government Accountability Office found that the recommendation process “relies on the input of physicians who may have potential conflicts of interest with respect to the outcomes of CMS’ process.” The office also says the data—compiled by annually surveying physicians to provide updates on existing procedures and to introduce new ones—were weak. They are concerned the result could be inaccurate Medicare payment rates.
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    • News
      • Current News
      • Providers
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      • Finance
      • Technology
      • Safety & Quality
      • Digital Health
      • Transformation
        • Patients
        • Operations
        • Care Delivery
        • Payment
      • ESG
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Opinion
      • Bold Moves
      • Breaking Bias
      • Commentaries
      • Letters
      • Vital Signs Blog
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
      • Data Center Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
      • Data Archive
      • Resource Guide: By the Numbers
      • Surveys
      • Data Points
    • Newsletters
    • MORE+
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