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NEW YORK - McKesson Corp. and Cardinal Health Inc. said Monday they renewed drug distribution agreements with CVS Caremark Corp., the largest U.S. drugstore chain.
The companies did not disclose terms, but Cardinal Health said it will supply drugs to CVS's retail pharmacies through mid-2013, and said rates were essentially the same as its previous agreement with CVS. Cardinal Health says it has distributed drugs to CVS stores for more than 15 years.
McKesson also said it will supply brand-name and generic drugs to CVS.
CVS Caremark is based in Woonsocket, R.I., and operates more than 6,900 drugstores. In morning trading, its shares fell 25 cents to $30.82.
Shares of Dublin, Ohio-based Cardinal Health lost 37 cents to $29.52, and shares of San Francisco-based McKesson were down 20 cents to $42.92.
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