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Walmart, CVS reach agreement to contract disputes

When businesses want to grow and create business relationships, they often reach out to other well-established companies that could help them strengthen their business operations. When these relationships are formed, contracts are typically put in place to protect the parties involved. Still, even well-established businesses can end up in contract disputes.

Florida readers may be interested in a dispute that recently came to an agreement between Walmart and CVS Health. According to reports, the dispute began after CVS acquired Aetna, a company that sells health insurance plans and other services. Walmart stated that the company would no longer take prescription drug coverage from CVS Health's pharmacy benefit manager as pharmacy prices became a point of contention between the two companies.

More recently, the two major companies were able to come to a new contract agreement that would involve Walmart continuing to be included in the CVS Health's PBM and retail pharmacy networks. It was noted that the agreement was a multi-year contract, and representatives for both companies stated that they were pleased to have been able to reach agreeable terms. Further details regarding the agreement were not disclosed.

Contract disputes can happen with companies big or small. When these events do occur, it is important that Florida business owners understand how to resolve the issues in ways that support the best interests of their companies. Working with their legal counsel can often allow concerned parties to gain reliable information about their options, negotiation tactics and general impacts that such disputes and outcomes could have.

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