CVS Pharmacy Upending How It Prices Prescription Medication

CVS Pharmacy announced a major change to how it prices drugs.
CVS Pharmacy Upending How It Prices Prescription Medication
Bottle of pills sit on shelves at Rock Canyon Pharmacy in Provo, Utah, on May 20, 2020. George Frey/AFP via Getty Images
Jack Phillips
Updated:
0:00

Retail chain CVS Pharmacy announced it would overhaul how it pays for drugs in a move that it says will simplify costs and increase transparency.

In an announcement on Tuesday, the firm stated that its more than 9,000 locations will be paid by contracted pharmacy benefit managers (PBMs) and payors using a formula that uses the cost of the drug.

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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