Caremark Says Product Sales in Compliance
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Pharmacy benefits manager Caremark Rx Inc.  on Monday said all the products it sells come from licensed wholesalers, a day after a published report said Illinois regulators were investigating whether it resold drugs that had been returned by patients.
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As part of a federal inquiry into drug and medical-device marketing, Boston Scientific Corp. was asked by Congress last week to submit to investigators internal documents, marketing plans, and clinical data related to its top-selling product, the Taxus drug-coated stent.
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Pfizer Inc. has agreed to license a  set of potential drugs for the prevention of stroke and heart  attacks from Germany's Schering, the two companies said on  Wednesday.
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The American Medical Association said  on Monday it will ask state and federal health authorities to  investigate retail health clinics such as those offered in  CVS/Caremark stores , Wal-Mart Stores  and  Walgreen Co.  for possible conflicts of interest.
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WELLINGTON (Dow Jones)--New Zealand medical equipment maker Fisher &amp; Paykel Healthcare Corp. (FPH.NZ) said Wednesday it is confident it can better the high revenue growth
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NEW YORK/CHICAGO  - CVS Corp. sweetened its bid for Caremark Rx Inc. on Tuesday by tripling a proposed special cash dividend for the pharmacy benefit manager's stockholders to $6 per share, after proxy advisory firms urged rejection of the previous offer.
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Microsoft Corp. on Monday said it has agreed to buy a Thai software vendor that specializes in hospital administration applications, and plans to sell the software in emerging markets.Global Care Solutions (GCS) of Bangkok, Thailand, is Microsoft&#39;s third purchase of a health-care software vendor in the past 13 months, according to Peter Neupert , vice president for the Health Solutions Group at Microsoft . The group was formed two years ago and the purchase of GCS is one more step to building the Microsoft health-care business, he said.GCS specializes in hospital software that takes care of patient scheduling, billing, clinical workflow, regulatory compliance and medical record-keeping. The privately held company has worked for years with Bumrungrad International Hospital , a facility made famous by its focus on catering to visiting tourists.What makes GCS software special is the amount of specialized record keeping required by Bumrungrad. Doctors at the hospital see over 1.2 million patients each year, including 400,000 foreign patients from 190 countries, meaning varying language, insurance and billing data. Half of the 3,200 patients seen at Bumrungrad each day walk in without an appointment, yet GCS&#39;s scheduling software ensures patients wait an average of 17 minutes to see a doctor.Microsoft will retain all GCS workers after the acquisition. Financial terms of the deal were not disclosed.The companies also announced a collaborative alliance with Bumrungrad Hospital to continue work on tweaking and improving technology to improve hospital care.&quot;We now have a partner that&#39;s willing to experiment with us,&quot; said Neupert. He said future work will include software development as well as experimenting on how RFID (radio frequency identification) can improve hospital care.Microsoft will focus GCS software sales on hospitals in emerging countries, said Neupert. The software fits well with emerging market hospital needs, requiring just a small investment in computer hardware, he said.Microsoft has not been receiving requests for the kind of software GCS provides, he said, but made the acquisition based on what its Health Solutions Group required, and because the company has a good understanding of its business. GCS software is in use in seven hospitals around the Asia-Pacific region, the company said.
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(InfoWorld) - Delivering on a promise made earlier this year, SAP has unveiled the first set of products to help businesses meet their compliance requirements, in addition to announcing a marketing agreement with Cisco Systems. The three new governance, risk, and compliance (GRC) applications, based on SAP's new SOA (service-oriented architecture), offer companies help with repository, process control, and risk management functions, the Walldorf, Germany, company said Wednesday. In May, SAP announced theÂ creation of a new GRC business unitÂ at its Sapphire customer event in Orlando. The unit was set up to develop new technology to help companies meet a growing list of compliance requirements, such as the Sarbanes Oxley Act (SOX), Food and Drug Administration (FDA) regulations for pharmaceutical companies, and Basel II regulations for the banking sector. The SAP GRC Repository application documents and maintains GRC information in a single central system, including corporate policies and regulations, and will also store and link risk and control libraries to multiple control frameworks and international regulations. The centralization of GRC information simplifies risk management, increases transparency and cuts costs associated with GRC initiatives, according to SAP. SAP GRC Process Control is designed to automatically aggregate business process risks for the entire company, provide supporting evidence of compliance and pinpoint control violations so that corrective action can be given a priority. The software integrates automated control monitoring for SAP and non-SAP applications. To help customers implement collaborative risk management processes, the SAP GRC Risk Management application provides a thorough analysis of key business risks at multiple levels of the company, across organization entities, business process and IT infrastructure, according to SAP. It is designed to help professional risk managers and company owners identify financial, legal and operational risks, analyze business opportunities in light of these and develop appropriate responses. SAP will sell all three products separately. The repository and process control applications will ship Nov. 30, with the risk management software product to follow in December. In addition, SAP has signed a joint marketing agreement with Cisco that will target GRC business processes and IT control issues across the entire IT infrastructure, including the network and application layers. Under the agreement, targeted at the U.S. and Canada, the companies will collaborate in sales and marketing activities, and provide complementary products that offer new levels of IT management and controls between Cisco's service-oriented network architecture (SONA) and SAP's three new GRC applications. Further information about the products isÂ available here.
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Retail drugstore chain CVS Corp. said it remains confident it will buy the pharmacy-benefit manager Caremark Rx Inc. , despite a higher, unsolicited offer for Caremark submitted yesterday by Express Scripts Inc.
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THURSDAY, June 21 (HealthDay News) -- A programmable device that allows professional caregivers to monitor how patients dispense their medications has been approved by the U.S. Food and Drug Administration, the agency said Thursday.
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WASHINGTON -- CVS Caremark Corp., the second-biggest US drugstore chain, and two former executives settled claims they used an improper trade of stuffed animals to overstate profit, the Securities and Exchange Commission said.
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Strong drug sales provide a dose of good medicine for this pharmaceutical company.
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LONDON (CBS.MW) -- European drugmakers Novartis, Schering and Sanofi-Aventis on Thursday all posted rising third-quarter sales, helped by sales lifts in the companies&#39; key products.
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The medical device and drug maker credited strong sales of its migraine and Crohnâs disease treatments.
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NASHVILLE, Feb. 12  â Two more investment advisory firms recommended Monday that shareholders of Caremark Rx reject a buyout offer from the drugstore operator CVS Corporation when it comes up for a vote next week.
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U.S. regulators issued new manufacturing standards on Friday for vitamins, herbs and other dietary supplements that are meant to make sure the products are free of contaminants and accurately labeled.
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The nation's largest drugstore chains say they are working to better protect patient privacy after an investigative TV report turned up sensitive information about hundreds of customers in trash bins in cities around the country.