Prescribing PR: CVS Caremark account in review
WOONSOCKET, RI: Drugstore and benefits company CVS Caremark is reviewing its corporate PR account, attracting interest from several US agencies.
The Holmes Report understands that an RFP has already been issued, regarding an account that one source describes as “quite significant”.
CVS Caremark currently works with Weber Shandwick. The new brief focuses on strategic media relations and corporate reputation, and is thought to cover just one element of Weber Shandwick’s business with the healthcare provider.
CVS Caremark is described as the largest company that has operations solely in the US. Its CVS/pharmacy retail division runs more than 7,300 CVS/pharmacy and Longs Drug stores, and it also operates the retail-based MinuteClinic walk-in medical center in 600 of these locations.
In addition, CVS Caremark’s pharmacy services division provides prescription benefit management solutions. The company’s 2011 revenues of $107bn are almost evenly split between its retail and pharmacy units.
The company has attracted scrutiny in recent years. In 2008, it settled a civil lawsuit for deceptive business practices. Earlier this year, it paid $5m to compensate consumers following a two-year FTC probe of its business practices, which dismissed the more serious allegations of anticompetitive behavior.
CVS Caremark representatives had not returned request for comment as this story went live. A Weber Shandwick spokesperson declined to comment.