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CVS Health And Walmart Announce PBM Pharmacy Network Agreement

CVS Health (CVS) and Walmart (WMT) said that they reached a multi-year agreement on terms under which Walmart will continue participating in the CVS Caremark pharmacy benefit management or PBM commercial and Managed Medicaid retail pharmacy networks.

The companies are not disclosing the financial terms of the new contract.

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.

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