October 18, 2017

Anthem deal with CVS will provide new pharmacy benefits services

Health insurer Anthem said Wednesday it is establishing a new pharmacy benefits manager that will begin to offer services in 2020.

The Indianapolis-based insurer, with offices in Wallingford, has signed a five-year agreement with CVS Health, which will service the new benefits manager, called IngenioRx.

It will begin to offer services Jan. 1, 2020, which is when Anthem's current benefits manager contract with Express Scripts Holding Co. ends, the insurer said.

Anthem said IngenioRx will serve customers of Anthem affiliated health plans, as well as non-Anthem customers in a national marketplace.

"The launch of IngenioRx will allow us to break through what is now a complex and fragmented landscape," said Joseph R. Swedish, Anthem CEO. "It also positions Anthem to take advantage of a unique opportunity to grow and diversify our business within our existing footprint as well as nationally."

The deal comes after Anthem sued Express Scripts in 2016 for allegedly overcharging on prescription drugs, according to the Wall Street Journal. Express Scripts has denied the claims, the Journal reported.

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