Becker's Healthcare January 24, 2024
CVS Caremark will no longer handle pharmacy costs for Tyson Foods’ 140,000 employees after the company cut its contract, CNBC reported Jan. 24. A few months ago, Blue Shield California curbed its yearslong partnership with the pharmacy benefit manager.
Both Tyson Foods and Blue Shield of California are choosing new players in the PBM industry, bucking a trend of large employers partnering with the three biggest PBMs: CVS Caremark, Cigna’s Evernorth and UnitedHealth Group’s OptumRx.
A wave of drug price transparency seems to be slowly submerging the precedent of relying on six PBMs, which accounted for 96% of the market in 2022.
Tyson Foods tapped Rightway — the first PBM partner of Mark Cuban Cost Plus Drugs —...
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