The companies said the new pharmacy platform will increase transparency, enhance customer experience and result in lower costs.
Centene last year bought stake in RxAdvance, a cloud-based PBM. As part of the new partnership, Walgreens will also invest stake into RxAdvance.
The partnership comes as health insurance companies increasingly look to buy PBMs or form their own. Last year, Aetna joined CVS Health, which owns PBM CVS Caremark. Cigna merged with Express Scripts, and Anthem rolled out its own PBM. UnitedHealth Group also owns its own PBM, OptumRx.
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