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Pharmacy

CVS offers ‘guaranteed net cost’ for pharmacy benefit clients

WASHINGTON: Pharmacy chain and benefits manager CVS Health Corp on Wednesday said as of Jan. 1 it will offer a new prescription benefit option guaranteeing its health plan clients 100 percent of any rebates, discounts or other fees paid by drugmakers. The new plan model is aimed at providing greater drug cost simplicity, predictability and transparency, CVS said. The “guaranteed net cost” option could also deflect growing criticism that pharmacy benefit managers (PBMs) reap gains off the widening gap between…

Alibaba injects pharmacy assets into healthcare unit in $1.4 billion deal

SHANGHAI: Chinese e-commerce giant Alibaba Group Holding Ltd will inject some of its online pharmacy business into a listed unit in a deal valued at HK$10.6 billion ($1.35 billion), the firm said in a statement on Tuesday. Alibaba Health Information Technology Ltd will buy Ali JK Nutritional Products Holding Limited, which controls sales of medical devices, healthcare products, adult products and healthcare services on Alibaba’s Tmall platform. The deal will see parent Alibaba receive newly issued shares in Ali Health,…