Walmart opts to leave CVS partnerships over pricing dispute
Walmart sought reimbursement increases that would lead to higher costs for clients and consumers, CVS Health says
Bengaluru — Walmart has opted to end its involvement in the network of commercial and Medicaid pharmacies run by CVS Health after the two companies failed to agree on pricing, CVS says. Walmart sought reimbursement increases that would lead to higher costs for clients and consumers, CVS said, adding that the dispute would not affect the pharmacy networks in its Medicare plans and Walmart’s Sam’s Club stores. “At a time when everyone is working hard to find ways to reduce healthcare costs, Walmart’s requested rates would ultimately result in higher costs for our clients and consumers,” Derica Rice, president of CVS Caremark, the company’s pharmacy benefits unit, said. CVS said it has requested Walmart to remain in its networks until April 30 and did not expect the split to affect its 2019 financial results. Walmart spokeswoman Marilee McInnis said the retailer was continuing discussions with CVS Caremark. “We are committed to providing value to our customers across our business, incl...
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