March 27, 2018 by Chain Drug Review
Amazon, Amazon's health care aspirations, health care, Jeff Bezos, Joseph Johnson, L.E.K. Consulting, PBM, pharmacy benefit manager, retail pharmacy, Rob Haslehurst, telemedicine
Business, Featured Articles, Leading Headlines, Pharmacy, Retail News
BOSTON — Online retail giant Amazon will enter the broader health care market — it’s just a question of how, according to global management consulting firm L.E.K. Consulting. In a new report released yesterday, L.E.K. said Amazon has the right combination of capabilities for “its big health care-industry ambitions” and could launch offerings running the gamut from
March 2, 2017 by Geoff Walden and Chain Drug Review
CVS Caremark, CVS Health, CVS Pharmacy, Jon Roberts, Larry Merlo, PBM, pharmacy benefits management
Business, Featured Articles, Leading Headlines, Pharmacy, Retail News
WOONSOCKET, R.I. — Veteran CVS Health executive Jon Roberts has been named the company’s executive vice president and chief operating officer, a new position. CVS said Thursday that Roberts, who was president of the CVS Caremark pharmacy benefits management unit, will continue to report to CVS Health president and chief executive officer Larry Merlo. As
February 9, 2017 by Chain Drug Review
Alan Rosenbloom, drug price transparency, H.R. 244, MAC Transparency Act, Mark Merritt, PBM, PCMA, Pharmaceutical Care Management Association, prescription drug costs, prescription drug pricing, Rep. Doug Collins, Senior Care Pharmacy Coalition, video
Videos
With high prescription drug costs a pillar of the national debate on health care, the Pharmaceutical Care Management Association (PCMA) is trying to shed some light on drug pricing. The Washington, D.C.-based PBM trade group on Wednesday released a video titled, “What is drug price transparency?”. PCMA said the goal is to show how transparency
October 4, 2016 by Chain Drug Review
CVS, Deutsche Bank Securities, Express Scripts, George Hill, PBM, pharmacy benefit manager, Tricare, Walgreens
Leading Headlines, Pharmacy, Retail News
ST. LOUIS — Express Scripts Inc. is changing out CVS Pharmacy for Walgreens in its retail pharmacy network for TRICARE, the U.S. military’s health care and drug benefits program. Plans call for Walgreens pharmacies to join the Express Scripts network for TRICARE on Dec. 1. At that time, CVS pharmacies — including CVS locations in
August 29, 2016 by Chain Drug Review
Alex Gourlay, Jim DuCharme, PBM, pharmacy benefit management, Prime Therapeutics, specialty pharmacy, Walgreens, Walgreens Boots Alliance, WBA
Featured Articles, Leading Headlines, Pharmacy, Retail News
DEERFIELD, Ill., and ST. PAUL, Minn. — Walgreens has entered into a long-term alliance with Prime Therapeutics, the nation’s fourth-largest pharmacy benefit manager, that will include the creation of a joint pharmacy services company. Under the partnership, Walgreens and Prime will combine their central specialty pharmacy and mail service businesses, the companies said Monday. The
March 17, 2016 by Chain Drug Review
Alex Gourlay, Larry Renfro, OptumRx, PBM, pharmacy benefit manager, pharmacy care, prescription drug services, Walgreens
Featured Articles, Leading Headlines, Pharmacy, Retail News
DEERFIELD, Ill. and EDEN PRAIRIE, Minn. — Walgreens and pharmacy benefit manager OptumRx are collaborating on an an integrated pharmacy care solution that blends attributes of in-store and mail-order prescription drug services. The companies said Thursday that OptumRx members enrolled in the program will get the option to fill 90-day prescriptions at home delivery co-payment levels at
February 23, 2016 by Chain Drug Review
CVS Caremark, CVS Health, drug price inflation, Jonathan Roberts, PBM, pharmacy benefit management, prescription drug trend, prescription spending, Troy Brennan
Featured Articles, Leading Headlines, Pharmacy, Retail News
WOONSOCKET, R.I. — CVS Health reported a significant decrease in the prescription drug trend for its Caremark pharmacy benefit management (PBM) clients last year. CVS said Tuesday that the prescription trend, a growth measure of prescription spending, came in at 5% for 2015, down from a high of 11.8% in 2014. While the trend drivers
January 18, 2016 by John Schultz and Chain Drug Review
CVS Health, CVS/caremark, Jonathan Roberts, Laura Hungiville, PBM, pharmacy benefits management, WellCare Health Plans
2016, Issue 01-18-2016, Issues, News
TAMPA, Fla. — WellCare Health Plans Inc., a provider of managed care services for government-sponsored health care programs, has shifted its pharmacy benefits management to CVS Health. With the move, CVS Health now administers pharmacy benefits and processes pharmacy claims for approximately 3.8 million WellCare members who participate in the company’s Medicaid, Medicare and Prescription
September 10, 2015 by Chain Drug Review
Express Scripts, George Paz, PBM, pharmacy benefits management, Tim Wentworth
Business, Leading Headlines, Pharmacy, Supplier News
ST. LOUIS — Next spring, George Paz is slated to retire as chief executive officer of Express Scripts Holding Co. and be succeeded by president Tim Wentworth. Express Scripts said late Wednesday that Wentworth will take the helm as CEO in May 2016 after the pharmacy benefits management (PBM) company’s annual shareholders meeting, when Paz’s
July 6, 2015 by Mark Baumgartner and Chain Drug Review
Envision Pharmaceutical Services, EnvisionRx, Frank Sheehy, John Standley, PBM, Rite Aid
2015, Issue 07-06-2015, Issues, News
CAMP HILL, Pa. — Rite Aid has completed its acquisition of Envision Pharmaceutical Services from private investment firm TPG and other shareholders in a transaction valued at about $2 billion, including about $1.8 billion in cash, and around 27.9 million Rite Aid shares. EnvisionRx will operate as a wholly owned subsidiary of Rite Aid under
June 24, 2015 by Chain Drug Review
Envision Pharmaceutical Services, EnvisionRx, Frank Sheehy, John Standley, PBM, pharmacy benefit management, Rite Aid
Business, Leading Headlines, Pharmacy, Retail News
CAMP HILL, Pa. — Rite Aid Corp. has finalized its acquisition of pharmacy benefit management company Envision Pharmaceutical Services. The closing of the deal, valued at about $2 billion, came early in the timetable that Rite Aid initially reported. When the acquisition was announced in February, Rite Aid said it expected to complete the transaction
May 1, 2015 by Chain Drug Review
CVS Health, first quarter, fiscal 2015, Larry Merlo, net income, net sales, PBM, pharmacy services, prescription count, retail pharmacy, same-store sales
Business, Featured Articles, Leading Headlines, Retail News
WOONSOCKET, R.I. — Citing a strong performance by its pharmacy benefit management business, CVS Health posted a double-digit sales gain for the first quarter, with adjusted earnings topping Wall Street’s projections. CVS said Friday that net sales for the three months ended March 31 totaled $36.33 billion, up 11.1% from $32.69 billion a year earlier. Sales for CVS’ retail pharmacy business
March 30, 2015 by Chain Drug Review and Chain Drug Review
Catamaran Corp., Larry Renfro, Mark Thierer, Optum, OptumRx, PBM, pharmacy benefit management, Timothy Wicks, UnitedHealth Group
Business, Leading Headlines, Pharmacy, Retail News
NEW YORK and SCHAUMBURG, Ill. — Reflecting the ongoing consolidation in the pharmacy benefit management (PBM) sector, UnitedHealth Group plans to acquire Catamaran Corp. in a deal valued at $12.8 billion. The companies said Monday that Catamaran would integrated into OptumRx, UnitedHealth’s freestanding pharmacy care services business and part of its Optum health services unit.
March 16, 2015 by Greg Jacobson and Chain Drug Review
EnvisionRx, Frank Sheehy, John Standley, PBM, pharmacy benefits manager, Rite Aid
2015, Issue 03-16-2015, News
CAMP HILL, Pa. — Rite Aid Corp. has broadened and deepened its health care footprint by agreeing to acquire pharmacy benefits manager Envision Pharmaceutical Services (EnvisionRx) for around $2 billion in cash and stock from TPG, a private investment firm. The transaction, which has been approved by the boards of directors of both companies, is