Rite Aid (RAD), Walgreen (WAG) Mixed Following CVS-Cardinal Health News
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Mylan (MYL), Actavis (ACT) Continue Lower Following CVS/Cardinal Health Agreement
December 10, 2013 12:10 PM ESTMylan (Nasdaq: MYL), Actavis (NYSE: ACT) are lower Tuesday following CVS (NYSE: CVS) and Cardinal Health (NYSE: CAH) reaching a new generic sourcing entity agreement with Cardinal Health, which is said to be the largest in the U.S.
Mylan is down 3.4 percent, while Actavis is down 2.5 percent.... More
CVS (CVS), Cardinal Health (CAH) Enter Generic Sourcing Entity Agreement
December 10, 2013 11:04 AM ESTCVS Caremark (NYSE: CVS) and Cardinal Health (NYSE: CAH) announced the signing of an agreement to form the largest generic sourcing entity in the U.S., which is the world's largest generic drug market. Both companies are contributing their sourcing and supply chain expertise to this 50/50 joint venture and are committing to source generic drugs through it. The companies separately announced a three-year extension through June 2019 of Cardinal Health's existing pharmaceutical distribution agreements with CVS Caremark.
The U.S.-based joint venture is expected to be... More
