Good morning, everyone, and how are you today? We are just fine, thank you, especially now that the middle of the week is upon us. This is reason for optimism. After all, you made it this far, so why not hang on for another couple of days, yes? And what better way to make the time fly than to keep busy. So grab that cup of stimulation — our flavor today boasts the aroma of blueberries — and get started. Meanwhile, do keep us in mind if you hear anything interesting. Have a smashing day …
CVS (CVS) hired Derica Rice, a former Eli Lilly (LLY) finance chief to run its Caremark pharmacy benefit business, The Wall Street Journal reports. This is the second time this month that a large pharmacy benefit manager hired a former pharma executive to run operations. Last week, Optum, the pharmacy benefit manager owned by UnitedHealthcare, hired former GlaxoSmithKline chief executive Andrew Witty. Rice will succeed Jonathan Roberts, who was promoted last year to chief operating officer at CVS Health.
Slicing 20% off a pharma budget is no sweat. If my boss asked me to do it at 9 am it would be done by lunch time, including a coffee break and a trip to the bathroom.
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