|CVS Caremark and Generation Health Outline Target Medications That Will Be the Focus of New Pharmacogenomics Partnership|
WOONSOCKET, R.I. and UPPER SADDLE RIVER, N.J., June 2, 2010 /PRNewswire via COMTEX/ --CVS Caremark (NYSE: CVS), the nation's largest pharmacy health care provider, and Generation Health, Inc., today announced they will offer an integrated Genetic Benefit Management (GBM) service utilizing the industry's first Best Test(TM) Genetics Network for coordination of testing directed at tailoring prescriptions to members based on their DNA.
The initial product offering is available to CVS Caremark pharmacy benefit management services clients and focuses on thirteen (13) drug therapies. For medications generally dispensed through PBM services, the target medications will include: Imuran, Nolvadex, Plavix, Tabloid, Tegretol, and Ziagen. The partnership will also initially focus on seven (7) medications dispensed through CVS Caremark's specialty pharmacy business, including: Pegasys and Copegus, for treatment of hepatitis C, as well as the following oncology drugs: Gleevec, Tasigna, Sprycel, Tarceva, and Tykerb.
For each drug therapy, testing will be coordinated through the industry's first Best Test(TM) Genetics Network, a preferred provider organization of high-quality diagnostic service providers that offer evidence-based genetic and molecular testing.
"We developed this program by reviewing the scientific and clinical evidence to determine where we can have the greatest impact to improve pharmacy care for clients by making genetic benefit management an integral part of our PBM offering," said Troyen A. Brennan, MD, MPH, and Executive Vice President and Chief Medical Officer of CVS Caremark. "There is a growing desire by clients to tailor pharmaceutical treatment based on genetic inheritance and our new program helps save payors and patients time and money while improving health outcomes."
"This offering strengthens CVS Caremark's efforts to provide clients with a sophisticated, evidence-based clinical approach to genomic medicine," said Rick Schatzberg, CEO of Generation Health. "The emerging field of genomics is complex and challenging and this offering will allow employers to better manage the process for ensuring that their employees are receiving the most effective genetic testing and access to genetic experts, resulting in prescribing tailored to individuals."
This integrated GBM service offering will be launched for a select group of CVS Caremark's PBM clients in the months ahead, with the product becoming available to all clients starting in January 2011. Additionally, the CVS Caremark and Generation Health collaboration will be expanding its GBM service offerings as is warranted by research and medical advances.
CVS Caremark acquired a majority interest in Generation Health in December 2009. However, Generation Health operates as an independent business from CVS Caremark offering a full range of GBM services to employers, health plans, and provider networks.
About CVS Caremark
CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of health care services in the U.S. The Company is uniquely positioned to effectively manage costs and improve health care outcomes through its more than 7,000 CVS/pharmacy and Longs Drugs stores; its Caremark Pharmacy Services division (pharmacy benefit management, mail order and specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS Caremark is available through the Investor Relations section of the Company's Web site, at cvscaremark.com/investors, as well as through the press room section of the Company's Web site, at www.cvscaremark.com/newsroom.
About Generation Health
Generation Health provides a clinical and economic framework for harnessing the burgeoning field of genomic medicine in pursuit of quality health outcomes. This framework includes evaluation of clinical evidence to determine clinical utility; cost and outcome models to support evidence for reimbursement; a Best Test(TM) Genetics Network to manage the rapid growth of testing costs for payors; data and analytics to review gaps in care among patients; and outreach programs to ensure thorough communications between patients, physicians and pharmacists. Generation Health, a privately owned company, was established in November 2008 with funding from its founders and Highland Capital Partners, one of the country's leading venture capital organizations with a strong history and commitment to innovation in health care and life sciences. General information about Generation Health is available on the Company's website, at www.mygenerationhealth.com.
Contacts: Jon Sandberg Corporate Communications CVS Caremark 401-770-4914 Nancy Christal Senior Vice President Investor Relations, CVS Caremark 914-722-4704 Jeff Marrazzo Vice President, Sales and Business Development Generation Health 201-820-3455
SOURCE CVS Caremark