Tag Archive for: CVS

Pharmacy operators CVS (CVS.N), Walmart (WMT.N), and Walgreens (WBA.O) on Tuesday urged Ohio’s highest court to conclude they cannot be held liable for fueling an opioid epidemic in two of the state’s counties that won a $650.9 million judgment against them.

Walgreens said it expected to begin dispensing the pills within a week, in select locations in New York, Pennsylvania, Massachusetts, California, and Illinois. CVS will begin filling prescriptions for the medication in Massachusetts and Rhode Island in the weeks ahead and expand to additional states, where allowed by law, on a rolling basis.

The company, however, beat Wall Street estimates for fourth-quarter profit on strength in its drugstores and its pharmacy benefits management (PBM) unit, which negotiates drug prices between insurers and manufacturers.

The pharmacy benefit management subsidiary of CVS Health is favoring Humira’s biosimilars for its major formularies, with AbbVie’s branded product to be nixed on April 1, 2024.

These are exciting times for U.S. health care: market access disruption is upon us. It’s great news for patients – and with an informed approach to access strategies, it could be great news for pharma brands, too.  

Blue Shield, whose health plans cover 4.8 million members, said it will now work with five different companies, including Mark Cuban’s drug company, to provide “convenient, transparent access to medications while lowering costs.”

More than 3,000 state and local governments will receive nearly $19 billion in payments from drugmakers and pharmacy chains in the most recent round of opioid settlements.

Less than two years after announcing the launch of its clinical trial services business, CVS Health reported that it will shut down the division by the end of 2024.

CVS’ potential acquisitions of two healthcare service providers Signify and Oak Street Health, along with other such deals, have been facing increasing scrutiny over their impact on cost of healthcare in the United States.

The letter from New York Governor Kathy Hochul and Attorney General Letitia James asked the companies to respond in writing within 10 business days about their commitment to dispense mifepristone at U.S. drug regulator-certified pharmacy locations and via mail in the state.