Derica Rice Joining CVS

Posted: Updated:
(Image courtesy of Eli Lilly and Co.) (Image courtesy of Eli Lilly and Co.)
WOONSOCKET, Rhode Island -

The former chief financial officer of Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has been named president of CVS Caremark. Derica Rice, who spent 27 years with Lilly, will take the helm of CVS Health Corp.'s (NYSE: CVS) pharmacy benefit management business next week.

Rice's experience at Lilly included roles as CFO, executive vice president of global services, CFO of Lilly Canada and the company's European operations, general manager of Lilly's affiliate in the United Kingdom and controller.

CVS Chief Operating Officer Jon Roberts says "our PBM clients and the members they serve are asking for innovation, especially around value-based reimbursement models and the role pharmacy can play in improving health outcomes and lowering total health care costs. We believe Derica is a great addition to our team, and the experience he brings with regard to innovation in these value-based models in particular will help us continue to serve our clients' needs while also developing and delivering innovative solutions and offerings."

Rice was a key voice for Lilly when the company returned from a so-called YZ period that involved patent expiration of multiple treatments in its pipeline and the subsequent rebuilding of its potential portfolio in recent years. Lilly announced his retirement about a year ago.

  • Perspectives

    • Expand Your Workforce to Include The Deaf Community

      While there are arguably many minority groups that are grossly underutilized in the workforce, I’d wager that most people do not consider the Deaf community when thinking about diversity and inclusion strategies. The Deaf community shares a unique culture that is closely networked, but few employers know how to tap into this community, which comprises 10 percent of the population. In fact, many people probably see barriers for the Deaf community when it comes to employment...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Union Club Hotel was built in 1929. (photo courtesy of Purdue University)

      $30M Gift to Fund Purdue Hotel Renovation

      Purdue University says it plans to use a $30 million gift to transform an existing building into a world-class hotel. The gift from Bruce White, a Purdue alumnus and former trustee, his wife Beth, and the Dean and Barbara White Foundation, will fund the renovation of the Union Club Hotel, which will also serve as a laboratory learning environment for students. The university says the renovations will feature upgrades in furnishings, fixtures, and amenities for the hotel, as well as a...
    • (Image courtesy of Harrison College.)

      Milhaus Details Purchase of Harrison College Indy Campus

      Indianapolis-based Milhaus says it plans to build a 183-unit apartment complex on the same lot as the Indianapolis campus of recently-closed Harrison College. The development, construction and management company purchased the property last month for $6.3 million and Marketing Director Raven Reckley says the college's decision to close was "news to us." She adds Milhaus is "disappointed for the students and staff who are affected most" and will be evaluating...

    • Ribbon Cut on Downtown Fishers Housing

      The city of Fishers and Indianapolis-based Gradison Design-build have cut the ribbon on the first homes of a $30 million downtown residential development. The developers say the first section will have 20 homes, with a total of 50 coming over the next five years. Partner Joe Gradison says South Village of Nickel Plate gives residents high-demand housing options in a walkable, urban environment. In interviews with Inside INdiana Business Reporter Mary-Rachel Redman, Gradison and...

    • PGA TOUR Superstore to Open in Indy

      A popular golf retailer will Saturday open its first location in Indiana. The PGA TOUR Superstore location in Indianapolis replaces the recently-closed Babies"R"Us location at the Clearwater Crossing Shopping Center.

    • Indiana Lands $21M in Opioid Treatment Funding

      The U.S. Department of Health and Human Services has awarded more than $18 million to the Indiana Family and Social Services Administration. The two-year grant will be used for opioid treatment services throughout the state.