NEW YORK (AP) — CVS Caremark Corp. is disclosing another government inquiry into its business, as the company said the Securities and Exchange Commission has requested documents related to its Caremark pharmacy benefits management unit.
The company said it received a subpoena from the SEC on Feb. 28.
The agency asked for corporate records on several issues, including public disclosures in 2009 related to pharmacy benefits management and its Medicare Part D prescription-drug benefit businesses.
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The SEC also requested information about ownership and transaction in securities made by some of CVS Caremark's officers.
The Woonsocket, R.I., company disclosed the subpoena on Thursday. CVS Caremark said it is complying with the SEC's request and providing documents. The company said it does not believe any of the issues will have a significant effect on its results or financial condition.
CVS Caremark expanded its Medicare Part D business on April 29, when it acquired Universal American Corp.'s Medicare Part D business in a deal valued at $1.25 billion.
CVS Caremark resolved a previous government investigation in April when it agreed to pay $17.5 million to government agencies and 10 state governments.
State and federal agencies asked for retail pharmacy claims data for customers with both Medicaid and private insurance coverage, or "dual eligible" patients.
The company also reported its first-quarter results on Thursday. Its adjusted profit and revenue were about equal to Wall Street expectations. CVS Caremark stock rose 20 cents to $36.99 in Friday morning trading.
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