Anthem Transitions its PBM Contract to CVS, Express Remains in a Favorable Long-Term Position
On Oct. 18, Anthem announced it will officially move its pharmacy benefit manager contract from Express Scripts over to CVS once the current agreement ends in 2020. Anthem will also transition most of the PBM plan management related functions inhouse and service its claims through a segment it will call, IngenioRx. This move was largely expected and upon our initial analysis, we are leaving our moats and fair value ratings intact for Anthem and Express. We plan to leave our moat rating for CVS a...Walgreens Boots Alliance is a holding company. Through its subsidiaries, the company is engaged in retail and wholesale pharmacy. The company's operations are organized into three divisions, which are also its reportable segments: Retail Pharmacy USA; Retail Pharmacy International; and Pharmaceutical Wholesale. The Retail Pharmacy USA division has pharmacy-led health and beauty retail offerings. The Retail Pharmacy International division has pharmacy-led health and beauty retail businesses. The Pharmaceutical Wholesale division, which mainly operates under the Alliance Healthcare brand, supplies medicines, other healthcare products and related services to pharmacies, doctors, health centers and hospitals.
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