CVS Pharma is one of the subsidiaries of Melville Corporation, where its full name was initially Consumer Value Stores. Melville changed its name to CVS Corporation in 1996. CVS Pharma founded on May 8, 1963, Lowell, Massachusetts, United States. Today CVS Pharma CEO is Karen S. Lynch who is an American businesswoman and the president and chief executive officer of CVS Health. Lynch serves on the board of directors of AHIP, CVS Health, and U.S. Bancorp. In 2015, she became the first female president of Aetna. She has held executive positions at Magellan Health Services and Cigna.
Karen S. Lynch As President and Chief Executive Officer at CVS HEALTH CORP, Larry J. Merlo made $11,168,073 in total compensation. Of this total $1,630,000 was received as a salary, $4,694,000 was received as a bonus, $4,185,131 was received in stock options, $0 was awarded as stock and $658,942 came from other types of compensation.
CVS Pharma Former CEO Tom Ryan has said he considers “CVS ” to stand for “Convenience, Value, and Service”.
Today CVS is the US’s largest pharmacy chain, ahead of chief rival Walgreens Boots Alliance. CVS Pharma Health competitors include Express Scripts, Avella Specialty Pharmacy, Walgreens and Rite Aid and CVS has slightly better deals than Walgreens.
Notably, CVS Pharma Health, the largest chain drugstore in 2018 by total prescription revenues, according to the Drug Channels Institute, trailed Good Neighbor, Health Mart, Rite Aid, Walgreens and the drugstore average in satisfaction.
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