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Post# of 648882
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Tuff-Stuff

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Tuff-Stuff

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Wednesday, 10/18/2017 7:27:59 AM

Wednesday, October 18, 2017 7:27:59 AM

Post# of 648882
CVS Health (NYSE:CVS) is up 2% premarket on light volume in response to its announced five-year agreement with Anthem (NYSE:ANTM) to provide services to support the latter's new pharmacy benefit manager (PBM) IngenioRx.

CVS will be responsible for claims processing and prescription fulfillment. It will also leverage its bundled suite of assets, including CVS Pharmacy and MinuteClinic to broaden the scope of clinical services at the pharmacy counter to drive better outcomes.

The new agreement goes into effect on January 1, 2020 and runs through 2024.

CVS expects to incur implementation costs related to the transition of members but these should be immaterial to 2017 results.

Pray for A Pain Free Day!

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