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Two CVS Pharmacies Caught Up In DEA Prescription Probe

--Two CVS pharmacies in Florida banned from dispensing controlled medicines --DEA's action related to allegations four Cardinal Health customers dispensed pain drug based on illegitimate prescriptions --CVS says it is committed to compliance and supports measures taken by authorities to prevent drug abuse By John Kell Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- The Drug Enforcement Administration's efforts to crack down on allegedly illegitimate oxycodone prescriptions led it to ban two CVS Caremark Corp. (CVS) pharmacies in Florida from dispensing controlled medicines. The drugstore chain and pharmacy-benefits manager confirmed the DEA took action to prohibit two stores in Sanford, Fla., from distributing controlled medicines and that the ban is related to allegations that four Cardinal Health Inc. (CAH) wholesale retail-pharmacy customers dispensed the pain drug oxycodone based on illegitimate prescriptions. The other two pharmacies are independent, Cardinal Health has said. On Friday, the DEA suspended Cardinal Health's license to distribute controlled medicines from a Florida facility, though the company has objected to the action, saying it was being held accountable for a portion of the supply chain it can't control. A federal court judge followed late Friday afternoon by issuing a temporary restraining order that allowed Cardinal to resume shipments from that facility pending an upcoming hearing. CVS spokesman Michael DeAngelis said the drugstore chain is "unwavering in its compliance with and support of" the measures taken by federal and state authorities to prevent drug abuse. He added that the company, which is cooperating with the DEA, also is aiming to ensure customers of those two pharmacies could continue to get the medications they need. CVS said that, with DEA knowledge, the company last fall informed a small number of Florida physicians that CVS pharmacies would no longer fill prescriptions they wrote for Schedule II narcotics. This contributed to a steep decline in oxycodone distributions to the two pharmacies in question. Shares of CVS slid 0.6% to $43.26 in recent trading. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com --Jon Kamp contributed to this article.

Stock News for Cardinal Health (CAH)
DateTimeHeadline
05/02/201308:20:07Cardinal Health Profit Rose 3.6%; Dividend Raised
05/02/201308:00:12Cardinal Health Third-Quarter Profit Rose 3.6%; Dividend Raised
04/25/201308:21:03Cardinal, McKesson Renew Distribution Agreements With CVS
03/19/201309:25:51U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
02/19/201315:30:09Cardinal Health Borrows $1.3 Billion for AssuraMed Buy
02/19/201315:14:18Cardinal Health Borrowing $1.3 Billion to Acquire AssuraMed
02/14/201308:40:07Cardinal Health to Buy AssuraMed for $2.07 Billion
02/14/201308:23:17Cardinal Health to Buy Medical-Supplies Provider AssuraMed for...
02/05/201308:40:22Cardinal Health Profit Up 16% on Improved Margins
02/05/201308:30:05Cardinal Health 2nd-Quarter Profit Up 16% on Improved Margins
01/30/201319:44:24CORRECT: Cardinal Health Sees $79 Million in Costs From Production...
01/30/201318:37:32Cardinal Health Sees $79 Million in Costs from Production Move
01/30/201309:49:57AmerisourceBergen Signs New Deal With Big Customer PharMerica
12/19/201214:00:25Glaxo in $150 Million Settlement in Generic Nasal Spray Case
12/19/201213:45:34GlaxoSmithKline in $150 Million Settlement in Generic Nasal Spray...
11/09/201209:23:14Cardinal Health: DOJ Requested Documents on Customer Discounts
11/06/201214:11:34Fitch Lowers Outlook for Cardinal Health to Stable on Growth...
10/31/201211:14:28Correction to Tuesday's Cardinal Health Earnings Story
10/30/201211:43:02Cardinal Health's 1st-Quarter Profit Up 14% on Lower Costs; Unveils...
10/04/201209:07:48McKesson Renews Drug-Supply Deal With Large Customer Rite Aid

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