Walmart

Walmart, CVS settle pharmacy pricing dispute

A CVS pharmacy in San Francisco.
CVS and Walmart reached a new deal. Photo: Justin Sullivan/Getty Images

Walmart pharmacies will stay in the network of CVS Health's pharmacy benefit manager after the two sides agreed to a new pricing contract.

The big picture: So much for that spat. However, the Wall Street Journal reported Walmart "didn't ask CVS to increase the amount it pays when shoppers fill a prescription," and instead asked to "maintain rates at current levels." That detail fits with a new Columbus Dispatch story, which showed the CVS pharmacy benefit manager paid Walmart stores 46% less for some drugs than CVS' own pharmacies.

Walmart to pull pharmacies from CVS networks

A man walks in front of an aisle near Walmart's pharmacy.
Walmart is leaving CVS Health's pharmacy network. Photo: John Gress/Corbis via Getty Images

Walmart is prepared to remove its pharmacies from the drug benefit network owned by CVS Health, as the two retail giants spar over drug pricing terms.

Why it matters: If a new agreement isn't reached by May, millions of people who fill their prescriptions at Walmart may have to find new pharmacies, and some of them inevitably will find their way to CVS' own drugstores.

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