Walmart and Express Scripts Sign Three-Year Agreement to Deliver Greater Value to Insured and Uninsured Pharmacy Customers
BENTONVILLE, Ark. and ST. LOUIS, Dec. 12, 2018 /PRNewswire/ -- Today, Walmart and Express Scripts (NASDAQ: ESRX) announced an extension to the companies' existing network agreement to provide access to Walmart's prescription services for Express Scripts clients' covered members. The companies also made a commitment to deliver additional affordable prescription solutions to millions of underinsured and uninsured Americans.
As part of the ongoing relationship, Walmart is partnering with Express Scripts' to access their unique pricing on dozens of brand-name prescription drugs, and create additional value for its customers. As one example, Express Scripts has introduced a novel solution – InsideRx -- to provide discounts, on average 40%, to uninsured Americans on a growing number of important brand-name prescription drugs. Express Scripts works with major drug manufacturers to lower the cost of high-priced medications and will continue to expand the program and deliver savings on additional medications for the whole family.
"Helping customers save money and live better is our mission at Walmart, and a key component of that is to help them save money on healthcare like prescription drugs," said Luke Kleyn, Vice President, Payer Relations at Walmart. "This new Agreement helps both insured and uninsured Americans access to affordable prescriptions."
Walmart has been delivering value to its shoppers through its $4 Program since 2006 and is committed to continued collaboration with Express Scripts on pricing solutions for people with no healthcare coverage and products not covered by insurance. Millions of people rely on Walmart as a convenient and affordable place to access health and wellness products and services, including their prescription needs. Walmart currently operates more than 4,700 locations with pharmacies, which provide important healthcare access points in urban, rural and suburban areas.
Express Scripts is the nation's leading pharmacy benefit manager, delivering better care, greater choice and lower costs. Last year alone, Express Scripts saved its clients $32 billion on their prescription drug bills through an innovative set of solutions that help payers and patients get the most value from the pharmacy benefit. Express Scripts serves more than 3,000 clients – employers, health plans, government agencies, unions and others – and helps 83 million Americans achieve better health.
"Prescription drugs are the first line of treatment for many illnesses, and it is critical to create and sustain affordable access to innovative therapies," said Amy Bricker, President, Supply Chain at Express Scripts. "Our clients and patients value our ability to deliver quality, cost-effective care on their terms, and we are pleased to partner with Walmart to expand affordable access for insured and uninsured patients."
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, nearly 265 million customers and members visit our more than 11,200 stores under 55 banners in 27 countries and eCommerce websites. With fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
About Express Scripts
Express Scripts is a healthcare opportunity company. Empowered by our legacy as an industry innovator, we dare to imagine - and deliver - a better healthcare system with improved health outcomes and lower costs. From pharmacy and medical benefits management, to specialty pharmacy care and everything in between - we uncover opportunities to make healthcare work better.
Our home base is St. Louis, but our reach extends to millions of Americans across the nation. We stand alongside our clients and partners, collaborating to develop personalized solutions that make a meaningful difference in the lives of those we serve. We believe healthcare can do more. We are Champions For Better.
For more information, visit Lab.Express-Scripts.com or follow @ExpressScripts on Twitter.