Anthem Partners With CVS To Start Its Own Pharmacy Business, IgenioRX

On October 18, 2017, Anthem Inc., announced a partnership with CVS Health to launch a new pharmacy benefit manager (PBM) company to be called IngenioRx.  The IngenioRx agreement goes into effect on January 1, 2020, and runs through December 31, 2024.

Since 2009, Anthem has contracted with Express Scripts to provide PBM services after Express Scripts acquired Anthem's PBM, WellPoint Inc. The ten-year contract between the two expires on December 31, 2019. By creating IngenioRx, Anthem seeks to gain "complete control" over its formulary and preferred drug list. In its contract with Express Scripts, Anthem was not able . . .