Fri June 18, 2010
Walgreen's, CVS end dispute
By Megan Hall
Providence, R.I. – A dispute that would have prevented around 24,000 Rhode Islanders from filling their prescriptions at Walgreen's pharmacies has been resolved. Woonsocket based CVS/Caremark and Walgreen's companies announced today that they have reached a new contract agreement.
Last week, Walgreen's decided to stop using the pharmacy benefits management services offered by CVS/Caremark. Walgreen's complained that CVS/Caremark was offering unfair reimbursement rates and was trying to steer Walgreen's customers towards getting their prescriptions from CVS instead.
CVS responded by canceling all existing plans at Walgreen's.
CVS/Caremark manages prescription plans for Blue Cross Blue Shield of Rhode Island, so the decision would have prevented all Blue Cross members from getting their prescriptions at Walgreen's.
CVS/Caremark and Walgreen's will not disclose the terms of their new contract.