Reuters: Market News: CVS names new president for its PBM business

Reuters: Market News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

CVS names new president for its PBM business Mar 30th 2012, 12:30 March 30 | Fri Mar 30, 2012 8:30am EDT March 30 (Reuters) - CVS Caremark Corp said on Friday Jon Roberts, currently the executive vice president and chief operating officer of its pharmacy benefits management business, will take on the role of president of that critical unit, effective Sept. 1. Roberts will continue to report to Per Lofberg, who currently leads that unit and will serve "effectively" as chairman of the unit, CVS said. Lofberg, who reached an extension of his employment agreement with CVS through December next year, as announced last December, will continue to report to Chief Executive Officer Larry Merlo. The news came just days after U.S. pharmacy benefit manager Express Scripts Inc said it may close its $29 billion acquisition of Medco Health Solutions Inc as soon as next week. Pharmacy benefit managers, or PBMs, administer drug benefits for employers and health plans and run mail-order pharmacies.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions