Thursday, 28 March 2024


CVS Health, Walmart enters PBM Pharmacy network agreement

18 January 2019 | News

With the continuing participation of Walmart, the CVS Caremark national pharmacy network will have nearly 68,000 participating pharmacies for members to choose from, including independently-owned, community-based pharmacies, other local pharmacies in grocery stores and mass merchants, as well as regional and national chains.

CVS Health and Walmart announced the companies have reached a multi-year agreement on terms under which Walmart will continue participating in the CVS Caremark pharmacy benefit management (PBM) commercial and Managed Medicaid retail pharmacy networks. The companies are not disclosing the financial terms of the new contract.

With the continuing participation of Walmart, the CVS Caremark national pharmacy network will have nearly 68,000 participating pharmacies for members to choose from, including independently-owned, community-based pharmacies, other local pharmacies in grocery stores and mass merchants, as well as regional and national chains.

Walmart and CVS Health already have an existing agreement in place for Walmart's participation in the CVS Caremark Medicare Part D pharmacy network. In addition, Walmart's Sam's Club division has an existing agreement to participate in the CVS Caremark pharmacy networks.

As a PBM CVS Caremark works hard to bring down the cost of drugs for clients and members through the implementation of highly effective clinical programs, innovative purchasing and formulary design and enhanced data analytics.

Walmart is committed to providing affordable healthcare through innovative programs like its $4generic drug price program that lowered the cost of healthcare for millions of Americans.  Walmart also gives communities across the nation access to convenient, quality healthcare by offering clinical services such as low-cost immunizations and medication counseling by Walmart Pharmacists, who are there to assist customers on their healthcare journey.  

 

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