Projo Biz Blog

Eight federal lawmakers signed a letter requesting the U.S. Federal Trade Commission reexamine Woonsocket-based CVS Corp.'s acquisition of Caremark Rx Inc. in 2007.

"We strongly believe that CVS Caremark is engaging in unfair and deceptive business practices that are causing harm to consumers, patients and local community pharmacies,'' four Republican congressmen and four Democrats said in the letter.

The letter asks the FTC to take another look at the combination of the pharmacy chain and pharmacy-benefits manager that created the country's largest purchaser of generic drugs. Five U.S. senators, a union group and a community pharmacist association have also written or met with FTC Chairman Jon Leibowitz to pursue the issue.

"Any suggestions that our business practices are anti- competitive or that we are violating antitrust laws are totally false,'' Carolyn Castel, a CVS spokeswoman, said in an e-mail to Bloomberg News.

Signatories included Republicans John Boozman of Arkansas, Walter Jones of North Carolina, Robert Aderholt of Alabama and Michael Rogers, of Alabama. Democrats signing the letter were Anthony Weiner of New York, Marion Berry of Arkansas, Lloyd Doggett of Texas and Michael Arcuri of New York.

 Tags  CVS Corp. Federal Trade Commission Woonsocket RI

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