OKLAHOMA CITY – Attorney General Gentner Drummond has announced a settlement of more than $5 million with CVS Caremark to resolve allegations that the Pharmacy Benefit Manager (PBM) paid Oklahoma pharmacies less than what the medications actually cost. PBMs act as middlemen between insurance companies and pharmacies, determining how much pharmacies get paid for dispensing prescriptions.
Under the settlement, CVS Caremark will pay $5,081,520.69 to the Attorney General's Office. The money will repay pharmacies for 68,099 prescriptions filled between January 2024 and August 2025 where they were paid less than what the drugs cost them.
'When your local pharmacy is paid pennies on the dollar, or even loses money filling your prescription, it can't keep its doors open,' Drummond said. 'This settlement puts millions of dollars back into Oklahoma pharmacies so they can continue serving their communities. We're protecting your access to the prescriptions you need and the pharmacists you trust, especially in small towns where the local pharmacy is often the only option for healthcare.'
Watonga’s only locally- owned pharmacy may be in line for some compensation from the suit according to sources inside the business.