February 9, 2017 / 3:07 PM / a year ago

BRIEF-CVS Health says PBMs are the solution and not the problem

Feb 9 (Reuters) - CVS Health Corp

* CVS Health- DIR performance network-based fees charged to pharmacies are allowed under CMS regulation; CVS does not keep or profit from performance network-based DIR

* CVS Health says dir performance network-based fees do not represent a material risk to CVS Health - Conf call

* CVS Health says extremely difficult for us to comment on possible scenarios that may play out in coming months; CVS health can pivot to address policy changes - Conf call

* CVS Health says any suggestion that PBMs are causing drug prices to rise is simply erroneous - conf call

* CVS Health says we are the solution and not the problem. That’s why both public and private insurers continue to count on PBMs as indispensable partners - conf call

* CVS Health says tax code that includes meaningful reduction in effective corporate tax rate would allow cvs to unlock even greater opportunities - conf call

* CVS Health says “we continue to focus on growing our beauty, healthcare and personal care businesses” - conf call

* CVS Health says have started to further reduce mass promotion in 2017 for front stores - conference call

* CVS Health says reducing script growth expectations at retail to account for some softness that we are seeing in our business - Conf call

* CVS Health says important the story be told in existing and factual way starting with the key policymakers and decision-makers - conf call

* CVS Health says part of the challenge is just the complexity of the pricing model in pharmacy - conf call

* CVS Health says when you look at the industry broadly, lines are blurry in terms competitors are at the same time partners - conf call Further company coverage:

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