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CVS says SEC reviewing its Caremark unit

Associated Press / May 7, 2011

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NEW YORK — CVS Caremark Corp. is disclosing another government inquiry into its business, as the company said the Securities and Exchange Commission has requested documents related to its Caremark pharmacy benefits management unit.

The company said it received a subpoena from the SEC on Feb. 28.

The agency asked for corporate records on several issues, including public disclosures in 2009 related to pharmacy benefits management and its Medicare Part D prescription-drug benefit businesses.

The SEC also requested information about ownership and transaction in securities made by some of CVS Caremark’s officers.

The Woonsocket, R.I., company disclosed the subpoena on Thursday. CVS Caremark said it is complying with the SEC’s request and providing documents.

CVS Caremark resolved a previous government investigation in April when it agreed to pay $17.5 million to government agencies and 10 state governments.