Anthem launching its own PBM with CVS

John Gregory | | Health Exec | Precision Medicine

The nation’s second-largest health insurer, Anthem, has announced it will launch its own pharmacy benefit management (PBM) company in partnership with CVS Health in 2020, breaking off its rocky relationship with Express Scripts.

Express Scripts had said earlier this year it would likely lose Anthem, its biggest client, due to being far apart on price concessions for the final years of their contract, due to expire at the end of 2019. Anthem had also sued for $15 billion, alleging Express Scripts was overcharging the insurer.

The Wall Street Journal reported Anthem’s new PBM, called IngenioRx, will likely go after the business of other Blue Cross Blue Shield insurers. The financial terms of the deal with CVS were not disclosed, though Anthem did say the new contract will last for five years.

Read the full article at the link below:

Anthem to Launch Its Own Pharmacy-Benefit Manager

""
John Gregory, Senior Writer

John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.

Related Content

Pitching the business case for 3D printing labs in radiology
FDA issues first-ever clearance for OTC oximeter
Augmented reality company secures $15M in funding from Cleveland Clinic, Mayo, GE Healthcare and more
Merck to acquire Prometheus Biosciences for $10.8B
Johnson & Johnson scraps RSV vaccine after trial
Intermountain Health launches new biotech company

Around the web

Cardiovascular Business
FDA commissioner urges clinicians to join fight against medical misinformation

FDA Commissioner Robert Califf, MD, said the clinical community needs to combat health misinformation at a grassroots level. He warned that patients are immersed in a "sea of misinformation without a compass."
 

AI in Healthcare
4 points crucial to the nimble regulation of GenAI

With generative AI coming into its own, AI regulators must avoid relying too much on principles of risk management—and not enough on those of uncertainty management.

Cardiovascular Business
Q&A: Why are cardiovascular devices involved in so many recalls? FDA policies may be to blame

Cardiovascular devices are more likely to be in a Class I recall than any other device type. The FDA's approval process appears to be at least partially responsible, though the agency is working to make some serious changes. We spoke to a researcher who has been tracking these data for years to learn more. 

Design by Adaptive Theme
Trimed Popup
Trimed Popup