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CVS HEALTH (CVS)
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Court Rules Two CVS Florida Pharmacies Can't Ship Pain Pills

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03/22/2012 | 11:59pm CET
   By John Kell 
   Of  
 

A U.S. appeals court said two CVS Caremark Corp. (>> CVS Caremark Corporation) pharmacies in Florida cannot fill prescriptions for certain controlled drugs related to a Drug Enforcement Administration move to halt such sales.

The decision lifted a temporary, administrative stay that was granted to CVS earlier this month, at the time allowing the pharmacies to keep dispensing controlled medications after an appeals court denied the chain's request for preliminary injunction.

The case stems from DEA action that was taken last month against two Sanford, Fla., CVS stores that were alleged to be among four pharmacy customers of drug distributor Cardinal Health Inc. (CAH) that dispensed the pain drug oxycodone based on bad prescriptions.

The U.S. Court of Appeals for the District of Columbia Circuit on Thursday ruled CVS had "not satisfied the stringent requirements for a stay pending appeal." The decision comes roughly a week after an appeals court said a Cardinal Health distribution hub in Florida can't ship prescription painkillers.

In a prepared statement, CVS said it was "disappointed with today's ruling by the court," saying the company had taken actions that have substantially reduced the amount of oxycodone dispensed at the two Florida pharmacies.

"We remain committed to working with the DEA to do everything we can to reduce prescription drug abuse," CVS said.

-By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

-Jon Kamp and Timothy Martin of The Wall Street Journal contributed to this article

Stocks mentioned in the article : CVS Caremark Corporation
Stocks mentioned in the article
ChangeLast1st jan.
CARDINAL HEALTH 2.18% 69.31 Delayed Quote.10.71%
CVS HEALTH 0.24% 68.16 Delayed Quote.-6.21%
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Financials ($)
Sales 2018 189 B
EBIT 2018 9 905 M
Net income 2018 5 768 M
Debt 2018 20 750 M
Yield 2018 3,26%
P/E ratio 2018 12,25
P/E ratio 2019 11,24
EV / Sales 2018 0,48x
EV / Sales 2019 0,45x
Capitalization 69 653 M
Chart CVS HEALTH
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CVS Health Technical Analysis Chart | CVS | US1266501006 | 4-Traders
Technical analysis trends CVS HEALTH
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 88,1 $
Spread / Average Target 28%
EPS Revisions
Managers
NameTitle
Larry J. Merlo President, CEO & Non-Independent Director
David Wyatt Dorman Chairman
Jonathan C. Roberts Chief Operating Officer & Executive Vice President
David M. Denton Chief Financial Officer & Executive Vice President
Troyen A. Brennan Chief Medical Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
CVS HEALTH-6.21%69 653
WALGREENS BOOTS ALLIANCE-4.12%68 980
EXPRESS SCRIPTS HOLDING CO1.59%42 948
MCKESSON CORPORATION-4.08%31 186
CARDINAL HEALTH12.31%21 655
AMERISOURCEBERGEN7.35%21 653