Associated Press is reporting that Walgreen Co. will end its relationship with competitor CVS Caremark’s pharmacy benefits management business because of complaints about prices and policies designed to drive customers toward CVS stores.
This decision does not effect current Caremark plans, but if Walgreen’s stands by this decision it won’t handle any Caremark-managed prescriptions in about three (3) years.
Walgreen’s will not participate in plans that are awarded to Caremark or contracts renewed with Caremark starting yesterday, Monday, June 7th.
Walgreen’s is giving up billions of dollars in revenue with this move.
And you thought that contract negotiations couldn’t get any worse!!! Bet the County doesn’t know about this one yet?!?!