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September 24, 2025

Omnicare files for Chapter 11

DALLAS, Texas (AP) — CVS Health subsidiary Omnicare has filed for Chapter 11 bankruptcy protection two months after the long-term care business was ordered to pay $949 million when a federal court found it liable for filing fraudulent claims for some prescription drugs.

Omnicare, which CVS Health bought for more than $10 billion in cash in 2015, said in its bankruptcy petition that it had up to $10 billion in debt and up to $500 million in assets.


 
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