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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
04/02/201417:42:06Cardinal Health to Pay $320 Million to Buy AccessClosure
11/15/201308:55:36Highbridge Capital Management 3Q 13F: Holdings As -2-
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:04:50Bridgewater Associates LP 3Q 13F: Largest Purchases
11/15/201307:04:50Bridgewater Associates LP 3Q 13F: Holdings As Of -2-
11/15/201307:04:50Bridgewater Associates LP 3Q 13F: Largest -2-
11/15/201307:04:49Bridgewater Associates LP 3Q 13F: Holdings As Of Sep 30
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep -2-
11/15/201306:39:13CR Intrinsic Investors 3Q 13F: Holdings As Of Sep 30
11/15/201306:38:48CR Intrinsic Investors 3Q 13F: Largest Sales
10/31/201309:00:09Cardinal Health 1st-Quarter Profit Up 25%
10/31/201308:56:35Correction to Cardinal Health Earnings Story
10/31/201308:11:07Cardinal Health 1st-Quarter Profit Up 25% on Stronger Margins...
08/01/201308:18:04Cardinal Health Swings to 4th-Quarter Loss on Asset Write-Down
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

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