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Texas Pharmacies File RICO Suit Against CVS Caremark

Six independent pharmacies in Texas are suing CVS Caremark for Racketeer Influenced and Corrupt Organizations Act (RICO) violations and trade secret misappropriation. The complaint also says CVS Caremark contracts requiring patients to buy maintenance medications only from CVS Caremark violate the Texas "Any Willing Provider" law. The suit claims CVS Caremark violates the firewall between the retail pharmacy and the pharmacy benefit manager (PBM) entities as required when the Federal Trade Commission approved the CVS and Caremark 2007 merger. Instead, the combined company built an information technology platform that straddles all of CVS Caremark's business segments, capturing in-depth patient data for marketing and other purposes in violation of HIPAA patient privacy laws. To read the complete article from Business Wire, click here.

Full post as published by The Trade Secrets Vault on October 04, 2010 (boomark / email).