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FTC investigating CVS Caremark Corp.
Drug company denies any wrongdoing
Updated: Friday, 06 Nov 2009, 12:18 PM EST
Published : Friday, 06 Nov 2009, 4:07 AM EST
WOONSOCKET, R.I. (AP) - CVS Caremark Corp . says the Federal Trade Commission is investigating some of the chain's business practices.
The drugstore chain and pharmacy benefits manager did not disclose the details of the "nonpublic investigation," but said it has not violated any antitrust laws.
CVS suggested the FTC inquiry is connected to complaints made by the Change to Win coalition of labor unions. Change to Win has said CVS Caremark's size and buying power is bad for consumers, and accused CVS of a stocking expired products and violating patients' privacy, among other issues.
Change to Win also opposed CVS' acquisition of Longs Drugs Stores last year. The Woonsocket, R.I., company says the turmoil began in early 2007, when the coalition began trying to unionize CVS employees.
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