CVS Caremark task force probe includes Illinois, Connecticut

The attorneys general of Illinois and Connecticut are part of a multistate task force investigating the consequences of CVS Caremark Corp.'s 2007 purchase of Caremark Rx Inc.

The task force is reviewing "specifically the relationship and practices by CVS and Caremark following the companies' 2007 merger," Connecticut Attorney General Richard Blumenthal said yesterday in an e-mailed statement. Natalie Bauer, a spokeswoman for Illinois Attorney General Lisa Madigan, said yesterday by telephone that the state is involved in the probe and she couldn't comment further.

The office of Florida's attorney general, Bill McCollum, confirmed earlier this week that it's part of the task force. The Caremark unit provides pharmacy-benefits management to employers and accounted for about half of the company's 2009 sales of $98.7 billion.

"Although we have seen various media reports on the topic, we have not received any notice of a multistate investigation," Carolyn Castel, a CVS spokeswoman, said in an e-mail.

CVS advanced 91 cents, or 2.6 percent, to $36.42 yesterday in New York Stock Exchange composite trading. Shares of the Woonsocket, Rhode Island-based company have climbed 13 percent this year. CVS has a local division in Northbrook.