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CVS’ Chris Bodine to retire from post by 2009

BY Antoinette Alexander

WOONSOCKET, R.I. —Longtime CVS Caremark executive Chris Bodine has decided, for personal reasons, to scale back his day-to-day responsibilities and prepare for retirement in 2009.

Bodine, executive vice president and president of CVS Caremark Health Care Services, has assumed a new position as special adviser to the chief executive officer of CVS Caremark, according a recent filing with the Securities and Exchange Commission.

In his new role, Bodine will retain responsibility for trade relations/Rx purchasing and MinuteClinic, as well as a role in the continued development of the company’s new healthcare model.

Bodine is scaling back at an interesting time as—through the merger with Caremark Rx—CVS transforms into a pharmacy healthcare service company and marks a new paradigm for retail pharmacy. Bodine has made significant contributions to the company during his 20-plus year tenure.

Over the years, Bodine has served in different aspects of the business, including stints as senior vice president of healthcare services and senior vice president of merchandising, which helped give him an acute sense of merchandising strategies. In 2002, he was named executive vice president of merchandising and marketing.

Bodine has helped manage several of the company’s largest acquisitions—including some 1,260 Eckerd stores and 700 stand-alone Sav-on and Osco drug store from Albertsons—and helped position the pharmacy retailer as a leader in the industry.

In 2007, he was named executive vice president and president of CVS Caremark Health Care Services, with responsibility for pharmacy merchandising, business development, information technology, MinuteClinic and PharmaCare.

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JPMA refutes media reports about dangers of baby bottle materials

BY Jenna Duncan

MT. LAUREL, N.J. The media has been asked by the Juvenile Products Manufacturers Association to halt stories with claims of purported negative health effects from using baby products containing bisphenol A (BPA). JPMA claims that statements of ill health linked to items containing BPA are often misleading and frighten consumers.

According to JPMA, research has shown that when used properly, products made with BPA do not pose a health threat.

Robert Waller, Jr., the president of JPMA, said, “JPMA is extremely disappointed in the media for speculating that Health Canada’s assessment of BPA would recommend labeling the chemical a dangerous substance, when in fact the report has not even been issued yet.”

Claims in the media have stated that risk may come from the plastic shields on pacifiers, parts of baby bottles or sippy cups being broken down or chewed, and then ingested with food or saliva. Scientific findings indicate that BPA may cause estrogenic effects in laboratory animals, and so concerns about the safety of baby products, especially bottles, has been under scrutiny.

JPMA, whose mission is to educate consumers and industry professionals about juvenile products and safety, is referring consumers to its Web site, www.babybottles.org, for more information on BPA and related health findings.

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American Greetings reports fiscal 2008 profit

BY Doug Desjardins

CLEVELAND American Greetings generated $83.3 million in earnings for fiscal 2008, including $15.6 million in the fourth quarter ended Feb. 29, and more than $1.77 billion in total sales for year. Total sales were down about 1 percent from $1.79 billion the previous year, but earnings were up 96 percent from $42.4 million.

“I’m pleased we were able to achieve earnings within our forecasted range and exceed our cash flow guidance,” said American Greetings chief executive officer Zev Weiss. “Our strong cash flow allowed us to make two acquisitions in the digital photo space and repurchase shares.”

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