Anthem launches in-house pharmacy business with CVS Health after Express Scripts fallout

Indianapolis-based Anthem will establish an in-house pharmacy benefits manager called IngenioRx.

Here are four things to know about the PBM.

1. IngenioRx will offer PBM services beginning in 2020 when Anthem's contract with Express Scripts expires. 

2. Anthem notified Express Scripts in April it would drop the PBM after Dec. 31, 2019. The decision came during an ongoing legal battle between the two parties.

3. Anthem instead signed a five-year agreement with Woonsocket, R.I.-based CVS Health to manage prescription fulfillment and claims processing for IngenioRx beginning Jan. 1, 2020.

4. Anthem anticipates the deal will save it $4 billion annually, Reuters reports. 

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