PP_1170x120_10-25-21

PBM

PCMA explains drug price transparency

PCMA explains drug price transparency

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

Express Scripts replaces CVS with Walgreens for TRICARE

Express Scripts replaces CVS with Walgreens for TRICARE

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

Walgreens, Prime Therapeutics form alliance

Walgreens, Prime Therapeutics form alliance

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

Walgreens, OptumRx plan integrated Rx offering

Walgreens, OptumRx plan integrated Rx offering

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

CVS sees drop in PBM prescription drug trend

CVS sees drop in PBM prescription drug trend

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

CVS wins WellCare PBM contract

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

Express Scripts announces CEO succession

Express Scripts announces CEO succession

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

Rite Aid finalizes the acquisition of EnvisionRx

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

Rite Aid closes acquisition of EnvisionRx

Rite Aid closes acquisition of EnvisionRx

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

CVS Health gets 1Q boost from PBM

CVS Health gets 1Q boost from PBM

  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

PBMs OptumRx, Catamaran to merge in $12.8 billion deal

PBMs OptumRx, Catamaran to merge in $12.8 billion deal

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.

Rite Aid enters PBM business via acquisition

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

PBM addition key for Rite Aid

PBM addition key for Rite Aid

Rite Aid’s acquisition of PBM EnvisionRx was seen by industry observers as a big plus for the drug chain. Fitch Ratings called the deal “a positive move as it will enable the company to expand its distribution channels by getting a foothold in the specialty and mail-order channels.” “The acquisition is supported by Rite Aid’s improved

CVS bullish about ‘unmatched suite of assets’

NEW YORK — CVS Health “has made the right moves,” and is “very excited about the enterprise that we have become,” president and chief executive officer Larry Merlo said at the company’s annual Analyst Day here. CVS is well positioned to meet the changing needs of consumers, payers and providers with its integrated retail pharmacy,