WILMINGTON, Delaware – A unit of CVS Caremark Corp., the largest U.S. provider of prescription drugs, was sued by market-intelligence firm IMS Health Inc. for allegedly violating contracts to supply drug-sales data.
IMS, based in Norwalk, Conn., is asking a Delaware Chancery Court judge to force the CVS unit to comply with the agreements. The contract terms weren’t disclosed in the complaint, filed under seal in Wilmington on Feb. 7.
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“IMS has suffered and is suffering injury, which can be only incompletely compensated through a later award of damages,” the company said in redacted court papers made public on Wednesday.
More than 4 billion prescriptions are dispensed in the U.S. annually, IMS said. It collects data from pharmacies for use by drug companies, marketers and government agencies for research, sales, compliance, safety and tracking disease.
CVS fills about 1 billion prescriptions a year, IMS lawyers said in a filing. CVS, based in Woonsocket, has 7,000 affiliated stores.
Eileen Howard Dunn, a CVS spokeswoman, wasn’t immediately available at her office to comment on the lawsuit.
CVS fell 54 cents, or 1.7 percent, to $32.16 in New York Stock Exchange composite trading at 1:20 p.m.
The case is IMS Health v. Caremark LLC, CA6174, Delaware Chancery Court (Wilmington).
