Realizing that at the end of the day they still need each other, drugstore giants CVS Caremark and Walgreen’s have finally reached an agreement which will allow customers who are enrolled in CVS Caremark‘s prescription benefit plans to get their prescriptions filled at Walgreen’s and still be reimbursed.
Months of tense negotiations between CVS Caremark and Walgreen’s over prescription drug reimburesments had resulted in a stalemate during which Walgreen’s announced that it would no longer accept customers in any new CVS Caremark prescription drug benefit plans because of CVS Caremark‘s business practices. CVS Caremark in turn announced that even people currently enrolled in its plans would no longer be able to fill prescriptions at Walgreen’s, starting next month.
In end, neither CVS Caremark nor Walgreen’s were willing to risk alienating valuable customers. Walgreen’s risked losing customers who be no longer be able to fill their prescriptions in Walgreen’s stores, and CVS Caremark risked fraying relationships with employers intent on giving their workers a full choice of drugstores to fill their prescriptions.
The consequences of the dispute had the potential to disrupt the lives of thousands of Americans, particularly those who regularly take prescriptions for chronic conditions. Walgreen’s operates approximately 7,500 drugstores across the country, and CVS operates more than another 7,000 drugstores.
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