CVS Corporation (CVS), as of December 30, 2006, operated 6,202 retail and specialty pharmacy stores in 43 states and the District of Columbia, which are more pharmacy stores than any other retailer. CVS currently operates in 77 of the top 100 U.S. drugstore markets and holds the number one or number two market share in 58 of these markets. Overall, CVS holds the number one or number two market share position in 75% of the markets in which its retail pharmacies operate. During fiscal 2006, CVS filled approximately 513 million retail adjusted prescriptions, or approximately 16.0% of the U.S. retail pharmacy market. CVS and Caremark Rx, Inc. announced in March 2007 that they have formally closed their transformative merger of equals, creating the nation's premier integrated pharmacy services provider. The combined company, renamed CVS/Caremark Corporation, unifies the nation's largest pharmacy chain with a leading pharmaceutical services company, creating the opportunity to deliver unique products and services that will help manage costs for employers and improve access and choice for consumers. On June 2, 2006, CVS acquired certain assets and assumed certain liabilities from Albertson's, Inc. ("Albertsons") for $4.0 billion. The assets acquired and the liabilities assumed included approximately 700 standalone drugstores and a distribution center. |