Posted by Michael Wonder on 09 Feb 2017
CVS Health says it is not to blame for skyrocketing drug costs
9 February 2017 - Don't blame us for dramatic drug price hikes—that was the clear message from drugstore and pharmacy benefits manager CVS Health on Thursday.
PBMs, like CVS's massive Caremark unit, have come under fire from pharmaceuticals who blame them for contributing to higher prices. Meanwhile drug makers are facing their own accusations from President Trump that they're gouging consumers and "getting away with murder."
But "any suggestion that PBMs are causing drug prices to rise is erroneous," CVS CEO Larry Merlo told analysts Thursday on a conference call to discuss fourth-quarter results. "We are the solution, not the problem."
