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CVS, Cardinal Health enter 50-50 JV for generics

Dec 10, 2013 - The Deal Pipeline

CVS Caremark Corp. and Cardinal Health Inc., have agreed to form a 50/50 joint venture that would be the largest generic drug sourcing entity in the U.S.

In addition, Cardinal Health said it would extend its current pharmaceutical distribution agreement with CVS Caremark for three more years, through June 2019. Cardinal Health executives made the announcement at an investor conference Tuesday, Dec. 10, in New York.

Dublin, Ohio-based Cardinal Health's customer base has shifted, as it...