CVS Health: Blue Cross and Blue Shield FEP specialty pharma contract expires at year end

CVS Health said Friday that its contract to provide specialty pharmacy services for the Blue Cross and Blue Shield Federal Employee Program (FEP) will end at the end of the year. In a statement, CVS Health wrote: "Given that the contract expires at year end, the loss of this contract does not affect the company's 2017 financial results.

CVS Health said Friday that its contract to provide specialty pharmacy services for the Blue Cross and Blue Shield Federal Employee Program (FEP) will end at the end of the year. In a statement, CVS Health wrote: "Given that the contract expires at year end, the loss of this contract does not affect the company's 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 company noted it will continue to provide integrated PBM services to FEP's more than 5.4 million federal employees, retirees, and dependents under separate agreements that run through 2018.