CVS wins back Walmart in pharmacy deal, sending shares higher [Business News Network (BNN) Energy & Resources (Canada)]
Walmart Inc. (WMT)
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Source: Business News Network
CVS wins back Walmart in pharmacy deal, sending shares higher CVS Health Corp. ( CVS.N ) shares climbed after the resolution of a disagreement over pricing that led Walmart Inc. to cut some ties with the health-care giant earlier this week. In a statement by the companies on Friday, CVS said Walmart will allow its stores to continue to participate in CVS’s pharmacy networks to provide prescription drugs to patients through commercial and managed Medicaid programs. Financial terms of the pact weren’t disclosed. The agreement comes days after CVS said Walmart was withdrawing from its prescription networks. The retailer indicated at the time that it was resisting an attempt by CVS to steer consumers to certain pharmacies to have their prescriptions filled. CVS shares gained more than 3 per cent to US$65.30 in premarket trading in New York. Through the close of trading Thursday, shares of the giant drugstore operator and pharmacy-benefits manager had fallen 20 percent over the past year a
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