NEW YORK — CVS Caremark executives shared plans to address the challenges facing health care during the company's annual Analyst Day in New York City. The company also said Tuesday it also expects to buy back the $3 billion left in its share repurchase program.
Executives confirmed the company's 2011 guidance and provided 2012 guidance, underscoring a strong growth outlook. CVS senior management also outlined their plans to achieve long-term growth targets that are expected to generate more than $30 billion in cash available to enhance shareholder value from 2011 through 2015.
Chief executive Larry Merlo cited several healthcare industry trends that present opportunities for the company, including the nation’s expensive and over-burdened health care system that is increasingly challenged by the aging population; the need for low-cost solutions, such as preventive care and improved medication adherence; the increasing role of the consumer in healthcare decisions as more costs shift from employers to their employees; and the rapidly growing primary care physician shortage combined with an increasing need for better integration between physicians and other healthcare providers.
"As the healthcare industry adapts to the rapidly-changing landscape, CVS Caremark will continue to deliver innovative solutions that lower costs for payors and provide increased access, lower costs and better health outcomes for patients,” Merlo said.