CORRECTED-UPDATE 2-Health insurer Anthem takes pharmacy business in house, taps CVS to help [Reuters (UK)]
Anthem, Inc. (ANTM)
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Source: Reuters
Health insurer Anthem takes pharmacy business in house, taps CVS to help | Reuters Reuters Staff 3 Min Read (Reuters) - Health insurer Anthem Inc will start managing its billions of dollars of patient prescriptions itself in 2020, it said on Wednesday, ending a deal with Express Scripts Holding that had deteriorated into lawsuits over terms. Anthem, which has said Express Scripts overcharged it by $3 billion annually through unfavorable prices, said it would use drug retailer CVS Health Corp to handle prescription fulfillment and claims processing for five years for the new company, called IngenioRX. Pharmacy benefit managers negotiate prices with drugmakers and determine which treatments are included on their list of covered drugs and how much of a co-payment to charge for them versus their rivals. As drug prices have posted annual double-digit gains, companies, insurers and the U.S. government have pushed benefit managers to better manage costs. Leerink analyst Ana Gupte estimated t
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