Blue Shield of California's Shakeup: Ditching CVS for Amazon and Mark Cuban's Drug Company Sends Shockwaves

Blue Shield of California is shaking up the pharmacy benefit management (PBM) industry by dropping most services from CVS Caremark and partnering with Mark Cuban's Cost Plus Drugs, Amazon Pharmacy, and other companies to purchase and deliver drugs. The move aims to lower prescription drug prices and could potentially save the insurer up to $500 million annually. This shift may encourage other insurers to follow suit or pressure PBMs to modify their practices. Blue Shield's new model will begin ramping up next year and fully launch in 2025.