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Anthem recently struck a new pharmacy benefits deal with CVS. Photo: Darron Cummings / AP

Anthem has the power to back out of a pharmacy management deal with CVS, now that CVS is planning to acquire one of Anthem's biggest competitors. But CVS CEO Larry Merlo said Monday the pending CVS-Aetna merger "has no bearing" over its agreement with Anthem.

The bottom line: Anthem recently partnered with CVS to start its own pharmacy benefit manager, called IngenioRx, where CVS would do a lot of back-end work. But Anthem could call off that deal, presumably because it may not want to share sensitive data with a company is trying to own its health insurance competitor.

When asked about the CVS-Aetna deal, Anthem sent this statement:

  • "Anthem's new PBM IngenioRx will be able to combine our scale, deep provider relationships and holistic approach to managing the total cost of health care with significantly improved pharmaceutical pricing to offer a competitive and truly integrated product that will resonate well in a very competitive market. As part of our work to develop IngenioRx, Anthem considered various strategic possibilities and prioritized flexibility in structuring our contract to maintain the ability to adapt to a changing and dynamic marketplace if appropriate."

Between the lines: Anthem can cancel that CVS deal if it wants.

Go deeper

Kaine, Collins' censure resolution seeks to bar Trump from holding office again

Sen. Tim Kaine (center) and Sen. Susan Collins (right). Photo: Andrew Harnik/Pool via Getty Images

Sens. Tim Kaine (D-Va.) and Susan Collins (R-Maine) are forging ahead with a draft proposal to censure former President Trump, and are considering introducing the resolution on the Senate floor next week.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction, Axios Alayna Treene writes. "I think it’s important for the Senate's leadership to understand that there are alternatives," Kaine told CNN on Wednesday.

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.

Ina Fried, author of Login
Updated 3 hours ago - Technology

Apple's quarterly sales top $100 billion for first time

Credit: Apple

Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.