UPDATE 3-CVS, Walmart resolve pharmacy contract impasse [Reuters (UK)]
Walmart Inc. (WMT)
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Source: Reuters
CVS, Walmart resolve pharmacy contract impasse | Reuters 3 Min Read (Reuters) - Walmart Inc ( WMT.N ), the world’s largest retailer, will remain part of CVS Health Corp’s ( CVS.N ) network for commercial and Medicaid pharmacy customers, the companies said on Friday, breaking a contract impasse disclosed earlier this week. The companies did not provide financial terms of the new contract. On Tuesday, CVS said the companies had failed to agree on pricing and that Walmart was leaving the pharmacy network for prescription drug plans that CVS manages for companies and health insurers and for the government-run Medicaid program for low-income people. Walmart and CVS also said on Tuesday they were still in discussions. CVS shares gained 1.6 percent to $64.76 in premarket trading, recouping some of the stock’s losses on Tuesday. “We view the agreement positively for CVS,” Cantor Fitzgerald analyst Steven Halper said in a research note, explaining that the loss of Walmart pharmacies could
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