Episode Details

CVS Threatens to Close 134 Tennessee Stores Over PBM Bill

CVS, a major pharmacy chain, warns of potential store closures in Tennessee due to Senate Bill 2040, the Fair RX Act. The bill targets pharmacy benefit managers (PBMs) owned by big chains, with CVSs Caremark serving 87 million people. CVS argues the bill would make it impossible to run pharmacies without shutting down Caremark. The company has spent over $1 million on ads urging customers to contact legislators. Smaller pharmacy owners support the bill, citing a state audit showing CVSs PBM pays affiliated pharmacies higher rates than independents. State officials warn of higher costs if stores close, but fiscal experts assume pharmacies would restructure and stay open. The bill faces amendments in committee, with debate centering on whether divestment truly means closures or just business tweaks.

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