Change to Win: FTC Should Investigate CVS Caremark Merger
WASHINGTON-(Business Wire)-September 2, 2009 - Change to Win chair and SEIU Secretary-Treasurer Anna Burger issued the following statement regarding a meeting today with Federal Trade Commission Chairman Jon Leibowitz.
"Today we asked the FTC to open a full-scale investigation of CVS Caremark’s practices and re-examine the company’s 2007 merger. The merger of the largest retail pharmacy (CVS) and the second-largest PBM (Caremark) has created the nation’s largest provider of prescription services—and serious risks for consumers and health plans. The merged entity presents potential risks in such vital areas as patient privacy, value to health plans, conflicts of interest, and quality of service.
CVS Caremark now has access to patient prescription information on an unprecedented scale—handling almost 1 in 3 of all patient prescriptions in the country.
Change to Win represents workers in CVS Caremark plans that cover more than 10 million people. On behalf of these health plan members, Change to Win is greatly concerned that CVS Caremark could be exploiting its access to a massive amount of private patient information without meaningful consent or knowledge by plan participants.
We delivered to Chairman Leibowitz letters of concern about the merger from health plans and purchasing coalitions that cover more than two million individuals. These frontline payers for health care see the dangers of a pharmacy giant controlling the drug costs and data for their members.
I appreciate the FTC’s consideration of our concerns, and Change to Win will continue to sound the alarm about CVS Caremark to safeguard the health and privacy of millions of health care consumers across the nation."
www.AlarmedAboutCVSCaremark.org
Alarmed About CVS Caremark is a Change to Win initiative to educate consumers, health plan managers and trustees about the newly merged CVS Caremark, now the country's second largest pharmacy benefits manager (PBM) and largest retail pharmacy chain. Our report, An Alarming Prescription, details the troubling patterns exhibited by both CVS and Caremark prior to their merger, and explores the new risks presented by the merged entity CVS Caremark.
About Change to Win
Change to Win is a six million member partnership of seven unions founded in 2005 to represent workers in the industries and occupations of the 21st century economy. Change to Win committed to restoring the American Dream for a new generation of workers – wages that can support a family, affordable health care, a secure retirement, and the opportunity for the future. The seven affiliated unions are: Service Employees International Union, UNITE HERE, United Food and Commercial Workers International Union, International Brotherhood of Teamsters, Laborers' International Union of North America, United Brotherhood of Carpenters and Joiners of America and United Farm Workers of America.
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