Company Directory - CVS Caremark Corporation
Company Details - CVS Caremark Corporation
CCI Score
CCI Score: CVS Caremark Corporation
-46.30
0.05%
Latest Event
FTC Lawsuit Proceeds Against Caremark for Unfair Practices
A judge ruled against blocking the FTC’s lawsuit over allegations that Caremark, a PBM owned by CVS Caremark Corporation, engaged in practices that artificially drove up insulin costs, allowing the legal action to proceed.
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QUISLING
CVS Caremark Corporation is currently rated as a Quisling.
Latest Events
- FEB202025
A judge ruled against blocking the FTC’s lawsuit over allegations that Caremark, a PBM owned by CVS Caremark Corporation, engaged in practices that artificially drove up insulin costs, allowing the legal action to proceed.
-70
Business Practices and Ethical Responsibility
March 29
The FTC lawsuit highlights allegations that Caremark engaged in unethical business practices by favoring higher priced insulin products to secure larger rebates, a move that can harm consumers and contribute to unjust healthcare costs. This event underscores detrimental business practices that run counter to ethical corporate responsibility and worker/community protection.
FTC case against Caremark, Express Scripts, Optum Rx can move forward, judge rules
- JAN142025
On January 14, 2025, the FTC released a report accusing CVS Caremark, along with other major pharmacy benefit managers, of inflating drug prices on specialty generics and favoring affiliated pharmacies over independent operators, practices that have contributed to rising drug costs and potentially harmed fair competition in the market.
-60
Business Practices and Ethical Responsibility
March 29
The report details how CVS Caremark reportedly marked up specialty generic drug prices by hundreds or thousands of percent and reimbursed its own affiliated pharmacies at higher rates than unaffiliated ones. Such practices undermine fair market competition, hurt independent pharmacies, and contribute to higher costs for patients. This unethical business practice reflects a disregard for equitable healthcare access and accountability.
FTC releases second report slamming pharmacy benefit managers
- DEC152024
House Republicans, led by Judiciary Committee Chair Jim Jordan, are investigating CVS Caremark for allegedly pressuring independent pharmacies to avoid using cost-saving services offered outside its network, a practice that may stifle competition and harm patient access to essential medications.
-60
Business Practices and Ethical Responsibility
March 29
The investigation centers on alleged anti-competitive business practices by CVS Caremark, where the company is accused of pressuring independent pharmacies to avoid using cost-saving services. Such behavior raises serious ethical concerns regarding fair competition and consumer welfare.
House Republicans Investigate CVS Caremark Over Alleged Antitrust Violations
-40
Economic and Structural Influence
March 29
The alleged practices indicate a strategic move to consolidate economic power by limiting competition in the pharmaceutical market. This behavior undermines the market structure and stifles innovation, which is concerning from a structural economic perspective.
House Republicans Investigate CVS Caremark Over Alleged Antitrust Violations
- DEC132024
House Republicans have launched an antitrust investigation into CVS Caremark over allegations that the company is using its dominant market position to block independent pharmacies from accessing digital pharmaceutical hubs, potentially stifling innovation and harming patient care.
-60
Business Practices and Ethical Responsibility
March 29
CVS Caremark is accused of leveraging its market dominance to exclude independent pharmacies from innovative digital services, an approach that undermines ethical business practices and could harm patient welfare and fair market competition.
REPORT: House Republicans Open Antitrust Investigation Against CVS Caremark
-40
Economic and Structural Influence
March 29
The alleged exclusionary practices by CVS Caremark contribute to structural market imbalances by hindering competition and potentially entrenching monopolistic power within the healthcare sector.
REPORT: House Republicans Open Antitrust Investigation Against CVS Caremark
- DEC122024
House Republicans launched an investigation into CVS Caremark for allegedly threatening independent pharmacies by limiting their access to pharmaceutical hubs, an action that could stifle fair competition and harm patient welfare.
-45
Business Practices and Ethical Responsibility
March 29
The investigation highlights alleged exclusionary tactics by CVS Caremark that restrict independent pharmacies from accessing cost-saving pharmaceutical hubs, undermining market transparency and fair competition. Such anticompetitive practices can harm patient welfare and hinder innovation, reflecting unethical business practices.
House Republicans launch investigation into CVS Caremark for potential antitrust violations
-30
Economic and Structural Influence
March 29
The alleged actions suggest an abuse of market power where CVS Caremark uses its economic influence to potentially foreclose competition by limiting access for independent pharmacies, negatively impacting the broader market structure.
House Republicans launch investigation into CVS Caremark for potential antitrust violations
- JUL232024
On July 23, 2024, during a House Oversight Committee hearing, CVS Caremark executives were questioned over practices that drive up prescription drug costs and harm independent pharmacies. The hearing revealed issues including steering patients to company-owned pharmacies, opaque pricing structures, and refusal to provide clear answers regarding retroactive DIR fees.
-30
Public and Political Behavior
March 29
CVS Caremark's conduct during the congressional hearing, marked by evasive testimony and lack of transparency, undermines public accountability. This behavior contributes to a climate of corporate obfuscation in political processes, which is harmful to democratic oversight.
-50
Business Practices and Ethical Responsibility
March 29
The practices highlighted in the hearing, including steering patients to company-owned pharmacies, using retroactive DIR fees, and engaging in non-transparent pricing, clearly reflect unethical business practices that prioritize corporate profits over patient welfare and fair competition.
-40
Economic and Structural Influence
March 29
CVS Caremark’s actions contribute to a structurally monopolized market where the company leverages its dominant position to engage in practices that hurt competition and lead to higher drug costs for consumers, thereby exerting negative economic influence.
- AUG012019
The FTC launched an inquiry into six pharmacy benefit managers, including CVS Caremark, focusing on opaque contractual arrangements and practices such as steering patients to their own pharmacies, which may undermine drug affordability and harm independent pharmacies.
-50
Business Practices and Ethical Responsibility
March 29
The FTC investigation highlights concerns over CVS Caremark's opaque business practices and potentially exploitative contractual relationships that can harm consumers and independent pharmacies. Such practices contribute to an unhealthy market environment and mirror broader issues of corporate misconduct affecting marginalized populations.
FTC Investigates Major Pharmacy Benefit Managers for Effects on Prescription Drug Market
-40
Economic and Structural Influence
March 29
CVS Caremark's vertical integration within the healthcare sector and its dominant market position raise concerns about its economic and structural influence. This concentration of power may distort pricing and limit access to affordable medications, impacting consumer welfare and contributing to broader economic imbalances.
FTC Investigates Major Pharmacy Benefit Managers for Effects on Prescription Drug Market
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