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CVS Caremark And Cardinal Health Announce Creation Of Largest Generic Sourcing Entity In U.S.
Date:12/10/2013

nd pharmacy locations each day. The joint venture will maintain CVS Caremark and Cardinal Health's leadership positions as they drive value for their customers, clients and shareholders in a capital-efficient manner.

"Cardinal Health has been an outstanding strategic partner over many years and we are excited to form this new venture with them," said Larry J. Merlo, president and chief executive officer of CVS Caremark. "This partnership will enable us to maintain our leadership role in navigating the dynamic U.S. generics market.  With its combined volume and capabilities, the joint venture will develop innovative purchasing strategies with generic manufacturers and enhance supply chain efficiencies."

"We are excited to see our long-standing relationship with CVS Caremark expand to include this joint venture, which further enables both companies to focus on improving the cost-effectiveness of health care," said George Barrett, chairman and chief executive officer of Cardinal Health. "This venture is an extremely compelling combination where volume and efficiency matter. All customers will benefit from the enhanced volume and sourcing capabilities created by this partnership."

Click photo link below for full infographic on the transaction:

(Photo: http://photos.prnewswire.com/prnh/20131210/CL30757-INFO )

Cardinal Health 2013 Investor and Analyst Day
Cardinal Health management will be discussing this joint venture at its previously announced 2013 Investor and Analyst Day, which is currently underway in New York. To access the meeting and corresponding slide presentation, go to the Investors page at cardinalhealth.com.  

About Cardinal Health
Headquartered in Dublin, Ohio, Ca
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SOURCE Cardinal Health
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