Report: CVS Caremark inks deal to manage Chicago's prescription drug benefits

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CHICAGO CVS Caremark has secured a contract worth roughly $800 million to manage prescription drug benefits for Chicago and other local government agencies, according to a Crain's Chicago report.

A spokeswoman told Crain's that Chicago Public Schools, which managed the bid process, chose CVS Caremark on Friday. The three-year contract also covers employees of the Chicago Transit Authority and Cook County.

CVS Caremark already had been managing pharmacy benefits for the agencies, the report stated.

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