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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
07/18/201616:22:41Statement of Changes in Beneficial Ownership (4)
07/13/201609:00:00MD Anderson Laboratory Professional Named 2016 Cardinal Health...
07/05/201616:29:56Statement of Changes in Beneficial Ownership (4)
07/05/201616:23:25Initial Statement of Beneficial Ownership (3)
06/30/201616:15:00Cardinal Health Appoints Pamela O. Kimmet Chief Human Resources...
06/30/201616:06:24Current Report Filing (8-k)
06/27/201603:50:00Akers Biosciences Signs US Distribution Pact for Breath Check...
06/21/201609:23:02Current Report Filing (8-k)
06/21/201608:30:00Cardinal Health to Release Fourth-Quarter and Year-End Results...
06/15/201616:44:06Annual Report of Employee Stock Plans (11-k)
06/15/201616:42:46Annual Report of Employee Stock Plans (11-k)
06/09/201607:51:30Cardinal Health to Prepare NETSPOT™ Doses for Advanced Accelerator A...
05/31/201607:47:24Specialized Disclosure Report (sd)
05/23/201616:43:43Statement of Changes in Beneficial Ownership (4)
05/17/201609:00:00Fort McMurray Fire Victims to Receive Aid from Cardinal Health
05/17/201609:00:00Fort McMurray Fire Victims to Receive Aid from Cardinal Health
05/12/201609:00:00Cordis Announces Return to the Drug-Eluting Stent Market
05/04/201617:40:00/C O R R E C T I O N -- Cardinal Health/
05/04/201616:08:00Cardinal Health Board of Directors Approves Quarterly Dividend...
04/28/201608:30:00Cardinal Health's Revenue Climbs, Driven by Pharmaceuticals Segment

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