CVS Retains Blue Plan’s Specialty Pharmacy Business And That’s Where The Money And Costs Are

Stocks of companies that operate large PBMs, including CVS Health, UnitedHealth Group, which runs OptumRx, and Cigna, which runs the Express Scripts, PBM, were hit hard Thursday.Long gone are the days when health plans and PBMs had to worry about the launch of a new cholesterol pill or prescription antidepressant that would cost $4 each and be taken by millions of Americans.

“Based on nearly 20 years of success, we have retained the specialty business for Blue Shield of California,” CVS Health said in a statement Thursday afternoon. “Specialty pharmacy spend now represents over 50% of pharmacy benefit spend in the marketplace.

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