Wal-Mart Enters Pharmacy Benefit Manager Business

BENTONVILLE, Ark. — Setting up the possibility that other retailers might broaden their operations, Wal-Mart Stores chief executive officer Lee Scott said last week, the company has already entered into pharmacy benefit contracts with select employers in the U.S. Wal-Mart’s position in the contracts is to “help them manage how they process and pay prescription claims.” This is traditionally the role of a pharmacy benefit manager, although one other retailer, CVS/pharmacy, Woonsocket, R.I., stepped into a similar position by acquiring Caremark, Nashville, Tenn., to form CVS Caremark Corp. last year. “Our approach will be based on taking out unnecessary costs while providing high quality health care products and services,” Scott said. He estimated that Wal-Mart could save participating employers over $100 million this year.

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