CVS

WOONSOCKET, R.I. — CVS Health’s contract to provide specialty pharmacy services for the Blue Cross and Blue Shield Federal Employee Program (FEP) will end at the end of 2017.

“Given that the contract expires at year end, the loss of this contract does not affect the company’s 2017 financial results. The loss of this specialty pharmacy contract, which is expected to generate revenues of approximately $2.8 billion in 2017, is not expected to have a material impact on the company’s operating profit in 2018,” CVS wrote in a statement.

WOONSOCKET, R.I. — CVS Health on Wednesday officially announced the opioid overdose-reversal medicine naloxone is available without a prescription at all CVS Pharmacy locations in Iowa.

WOONSOCKET, R.I. — CVS Pharmacy, looking to meet growing shopper demand for Korean beauty products, is launching its K-Beauty HQ at 2,100 stores nationwide starting in April, the company announced Wednesday.

K-Beauty HQ will include more than 100 new products from South Korean beauty brands, several of which are exclusive to CVS. To curate the collection of skin care and makeup products, CVS Pharmacy said it worked with Korean beauty expert Alicia Yoon, who founded online beauty store Peach & Lily.

WOONSOCKET, R.I. — CVS Health is teaming up with the University of Pittsburgh School of Pharmacy and the Pittsburgh Public Schools that will bring its prescription drug abuse prevention program, Pharmacists Teach, to students in the Pittsburgh Public Schools.

WOONSOCKET, R.I. — CVS Health will launch Reduced Rx, a prescription savings program that will offer discounts on certain medications through CVS Health's pharmacy benefits manager, CVS Caremark directly to patients. The program will help patients with high out of pocket costs afford essential medications.

WOONSOCKET, R.I. — CVS Health’s pharmacy benefits management clients achieved the lowest drug trend in the past four years, despite rising drug prices. CVS Caremark clients saw their prescription drug trend drop to an average of 3.2% compared to 5.0% in 2015, according to the company. In addition, 38% of CVS Caremark commercial clients achieved a negative trend, which means they actually spent less on their prescription benefit in 2016 than they did in 2015, despite rising drug prices. Out-of-pocket costs for members also dropped 3.0% compared to the previous year.