A
AALARD
Guest
Walgreens, CVS settle dispute
WOONSOCKET, R.I., (UPI) -- Walgreen Co. and CVS Caremark Corp. said they settled a dispute that could have prevented patients from filling prescriptions at Walgreens stores.
The companies did not disclose terms of the settlement. The dispute centered on how Caremark determines discounts for medications filled at Walgreens pharmacies, the Chicago Tribune reported. Caremark not only operates drug stores but also handles prescription benefit plans for employers nationwide.
The settlement is expected to prevent what could have been a disruption for Walgreen customers. Caremark covers one out of every 10 Walgreen pharmacy customers.
Wall Street welcomed word of the end of the dispute and shares of both companies were up Friday after falling more than 5 percent since the feud became public two weeks ago.
Earlier this month, Walgreens said it would no longer participate in the Caremark prescription network because, it said, Caremark paid too little for Walgreen prescriptions to encourage patients to move their business to CVS. But Caremark countered that Walgreens wanted excessive discounts and said it would remove Walgreen from the network.
WOONSOCKET, R.I., (UPI) -- Walgreen Co. and CVS Caremark Corp. said they settled a dispute that could have prevented patients from filling prescriptions at Walgreens stores.
The companies did not disclose terms of the settlement. The dispute centered on how Caremark determines discounts for medications filled at Walgreens pharmacies, the Chicago Tribune reported. Caremark not only operates drug stores but also handles prescription benefit plans for employers nationwide.
The settlement is expected to prevent what could have been a disruption for Walgreen customers. Caremark covers one out of every 10 Walgreen pharmacy customers.
Wall Street welcomed word of the end of the dispute and shares of both companies were up Friday after falling more than 5 percent since the feud became public two weeks ago.
Earlier this month, Walgreens said it would no longer participate in the Caremark prescription network because, it said, Caremark paid too little for Walgreen prescriptions to encourage patients to move their business to CVS. But Caremark countered that Walgreens wanted excessive discounts and said it would remove Walgreen from the network.