Walmart, CVS Health hammer out new PBM pharmacy network deal

Walmart, CVS Health hammer out new PBM pharmacy network deal

BENTONVILLE, Ark. (AP) — Walmart will continue to operate through CVS Health's pharmacy benefit management commercial and managed Medicaid retail pharmacy networks.

Shares of CVS, which have been under pressure since Tuesday when it said it could not come to an agreement with Walmart on pricing, rose more than 2 percent before the opening bell Friday.

Including 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 and regional and national chains.

Walmart Inc. and CVS Health Corp. have an existing agreement for Walmart’s participation in the CVS Caremark Medicare Part D pharmacy network. Walmart’s Sam’s Club also has an existing deal to participate in the CVS Caremark pharmacy networks.