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CVS Pharmacy, Inc. is an American retail corporation. A subsidiary of CVS Health, it is headquartered in Woonsocket, Rhode Island. Originally named the Consumer Value Stores, it was founded in Lowell, Massachusetts in 1963.
CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands.
CVS Caremark (formerly Caremark Rx) (stylized as CVScaremark, previously CVS/caremark) is the pharmacy benefit management subsidiary of CVS Health, headquartered in Woonsocket, Rhode Island.
CVS is revamping the way it reimburses its pharmacies for prescription medications, a move that could make prescription drug pricing simpler and change how much consumers pay for their medicines.
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Under Lynch, CVS announced CVS CostVantage, a straightforward, cost-plus model that based the cost of prescription drugs on the amount paid by CVS plus a small markup. Fortune called her work one of the biggest CEO successes of 2023, saying the new system was "a sea change" for the industry.