April 9, 2008

CVS Caremark to Provide PBM Services to AT&T’s Employees and Retirees

CVS Caremark, a provider of prescriptions and related healthcare services, has been awarded a contract to provide pharmacy benefit management services to AT&T's employees and retirees, effective January 1, 2009.

CVS Caremark will provide a comprehensive suite of integrated pharmacy services, including claims processing, network management, rebate contracting, mail order pharmacy and specialty pharmacy services. This will be supported by CVS Caremark's service infrastructure and pharmacy care strategies that proactively inform and engage consumers to take control of their health.

Tom Ryan, chairman, president and CEO of CVS Caremark, said: We are delighted that AT&T has chosen to consolidate its entire pharmacy benefit management (PBM) business with us. AT&T is one of our oldest and best customers, and we consider this decision to be a vote of confidence for our integrated model of delivering pharmacy health care. By consolidating their PBM business with CVS Caremark, they will be well positioned to consider a number of the unique services that only we can offer."