WOONSOCKET – CVS Health Corp. said its contract to provide specialty pharmacy services for the Blue Cross and Blue Shield Federal Employee Program will stop at the end of this year.
The company, in a news release issued Friday, said because the contract expires at the year’s end, it will not affect 2017 financial results.
The loss of this specialty pharmacy contract, which is expected to generate revenues of approximately $2.8 billion in 2017, “is not expected to have a material impact on the company’s operating profit in 2018,” the release said.
Under separate agreements, which run through 2018, CVS Health said it will continue to provide integrated pharmacy benefit-management services, including mail-service pharmacy and clinical care programs, to FEP’s more than 5.4 million federal employees, retirees and dependents.
