It was a busy summer in the pharmacy benefits management business. First, in June, pharmacy chain Walgreens announced it would withdraw from Express Scripts’ pharmacy provider network starting Jan. 1, 2012. Walgreens said the poor contract terms Express Scripts was offering – including prescription reimbursement rates below the industry average – made it impossible for the pharmacy chain to continue its relationship with the PBM.
“Under the terms proposed by Express Scripts, it would not make good business sense for the strategic direction of our company to continue our relationship with them,” said Greg Wasson, president and CEO of Walgreens.
