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76.51% of Longs' Shares Tendered Subsequent Offering Period Expiring October 28, 2008 Announced CVS Caremark Corporation (NYSE: CVS) today announced that its tender offer for shares of common stock of Longs Drug Stores Corporation (NYSE: LDG) at a price of $71.50 per share has been successful. The offer period expired at 6:00 p.m., New York City time, on Friday, October 17, 2008. [more...]September 14, 2008 : Longs Drug Stores Confirms Receipt of Expression of Interest from Walgreens "Longs Drug Stores Corporation today confirmed that it had received an unsolicited, non-binding expression of interest from Walgreens. The expression of interest suggests an offer of $75.00 per share in cash for all of Longs' outstanding shares and is subject to diligence and negotiating a definitive agreement. Longs' Board of Directors will consider the expression of interest, with the assistance of its financial and legal advisors, in accordance with the terms of its existing merger agreement with CVS Caremark Corporation. . [more...] August 12, 2008 : CVS Caremark Corporation to Acquire Longs Drug Stores "CVS Caremark Corporation and Longs Drug Stores Corporation today announced that they have entered into a definitive agreement under which CVS Caremark will acquire Longs for $71.50 per share in cash for a total purchase price of $2.9 billion including the assumption of net debt. Through this acquisition, CVS Caremark will acquire Longs' 521 retail drugstores in California, Hawaii, Nevada and Arizona as well as its Rx America subsidiary, which offers prescription benefits management ("PBM") services to over 8 million members and prescription drug plan benefits to approximately 450,000 Medicare beneficiaries. [more...] June 19, 2008 : RxAmerica offers e-Prescribing "RxAmerica, a leading pharmacy benefit management (PBM) company, announced today an agreement with SureScripts to provide electronic prescribing to its prescribers and plans. SureScripts operates the largest network of electronic communications between pharmacies and physicians to allow the electronic exchange of prescription information. [more...] May 19, 2008 : RxAmerica Partners with Google on Launch of Google Health "RxAmerica, a leading pharmacy benefit manager (PBM), announced their participation as an integration partner in the new Google Health product. Google Health launched today at an event at Google. The product allows patients to gather their medical and prescription records from various providers and organize it in one secure place on the web to create a clear picture of their healthcare. [more...] April 6, 2008 : Fight the Increasing Costs of Pharmacy Benefits with a Guarantee It doesn’t take a financial genius to realize that pharmacy benefit costs are still soaring. Although yearly increases have declined by nearly nine percentage points since their high of 19.5 percent in 2003, most analysts still project double digit growth rates for 2008 [more...] April 2008 : The Right Prescription (article from HR Managment) "The need for flexibility and value for money are essential to how PBMs are implemented. HRM sat down with six industry leaders to find out more [more...]
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