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CVS Caremark (formerly Caremark Rx) (stylized as CVScaremark, previously CVS/caremark) is the pharmacy benefit management subsidiary of CVS Health, headquartered in Woonsocket, Rhode Island. Company history
CVS Specialty is the specialty pharmacy division that provides specialty pharmacy services for individuals with chronic or genetic diseases who require complex and expensive drug therapies. CVS Health operate 24 retail specialty pharmacy stores and 11 specialty mail order pharmacies, making them the largest specialty pharmacy in the United States.
Founded in 1993 as MedPartners, Caremark Rx was acquired by CVS in 2007. It accounted for an estimated 50.8% of CVS's $357.8 billion in revenue in 2023. Express Scripts
The new pharmacy services business, including the combined pharmacy benefits management (PBM), specialty pharmacy, and disease management businesses, is headquartered in Nashville, Tennessee. The new CVS Caremark Corporation is expected to achieve about $75 billion in yearly revenue for 2007.
As of 2022, CVS Caremark led the way with 34% market share while Express Scripts accounted for 24% and Optum Rx accounted for 21%. ... health insurance, retail pharmacy, specialty pharmacy, and ...
CVS Caremark’s business suffered a significant blow over the summer when a major California health insurer, Blue Shield of California, announced it will no longer use the company as its pharmacy ...
By the end of 2000, CVS's specialty pharmacy business consisted of mail-order operations and 46 CVS ProCare pharmacies located in 17 states and the District of Columbia. Overall, CVS saw its revenues surpass the $20 billion mark for the first time in 2000, while net income reached a record $746 million." [17]
Pharmacy benefit managers, which serve as the middlemen between drug makers, insurers and pharmacies, reaped $7.3 billion in revenue from marking up the prices of dozens of specialty generic drugs ...