Fierce Healthcare January 24, 2024
Amid an ongoing conversation about pharmacy benefit managers and the role they play in rising drug costs, a Fortune 100 company is making the jump from one of the industry’s biggest players to a startup.
Tyson Foods will be one of the first major companies to drop one of the so-called “big three” of the PBM industry by moving on from its long-term contract with CVS Health’s Caremark to sign on with Rightway, a startup that was founded in 2017.
The new contract went into effect on Jan. 1.
Tyson has about 140,000 employees. In an interview with CNBC, Renu Chhabra, the company’s vice president and head of global benefits, said that it began considering alternative options as it struggled...
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