Walgreens Extends CVS Caremark Network Provider Agreement
DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreens (NYS: WAG) (NAS: WAG) today said it has extended its agreement as a network pharmacy provider in the CVS Caremark pharmacy benefit management (PBM) national retail network. The companies are not disclosing the financial and other confidential terms of the agreement.
"We are pleased to have reached a mutual, multi-year agreement that meets our business objectives, remains consistent with our principles of receiving predictable and fair reimbursement for the services and value we provide and helps drive cost-effective pricing for payers and patients," said Kermit Crawford, Walgreens president of pharmacy, health and wellness.
As the nation's largest drugstore chain with fiscal 2012 sales of $72 billion, Walgreens (www.walgreens.com) vision is to become America's first choice for health and daily living. Each day, Walgreens provides more than 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. The company operates 8,086 drugstores in all 50 states, the District of Columbia and Puerto Rico. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.
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