WOONSOCKET, R.I. — CVS Health has issued a statement in response to the passage of House Bill 1150, which prevents pharmacy benefits managers from owning pharmacies in Arkansas. It was signed by governor Sarah Huckabee on April 16.
“CVS Health welcomes a good-faith discussion with policymakers in Arkansas and across the country on ways to make medicine more affordable and accessible. Unfortunately, HB1150 is bad policy that accomplishes just the opposite. It will take away access to pharmacy care in local communities, hike prescription drug spending across the state by millions of dollars each year and cost hundreds of Arkansans their jobs.”
Thorvardur de Shong
CVS said that the law will close 23 community pharmacies across Arkansas, affecting 340,000 Arkansans and resulting in 500 jobs lost, reduced access to specialty care for 10,000 Arkansas patients and an increase in Arkansas health benefits costs by millions of dollars annually.
“Facts should matter more than rhetoric, and a simple economic analysis could have avoided all this chaos,” the statement reads. “Factoring in both closures and openings, there are 14 more independent pharmacies operating in Arkansas today than there were in 2019, and CVS Caremark reimburses independent pharmacies in Arkansas 61 percent higher than it does CVS pharmacies.”
