CVS Chief: Don’t Blame Us for Greater Drug Costs

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CVS Well being Corp. Chief Govt Larry Merlo stated Wednesday that trade middlemen aren’t accountable for rising U.S. drug costs, noting that costs are rising quicker for medicines with smaller producer rebates.

CVS owns Caremark, one of many largest pharmacy-benefit managers, which course of prescriptions for insurers or corporations that pay for medicines and use their measurement to barter with drugmakers and pharmacies. Mr. Merlo stated CVS expects three%, or about $300 million, of its 2018 earnings to come back from rebates it…

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