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Walgreens Boots Alliance Displaces CVS from Tricare Pharmacy Network

Executive Summary

  • Walgreens Boots Alliance (WBA) will replace CVS as the in-network pharmacy for Tricare, the healthcare program of the US Department of Defense Military Health System.
  • Tricare, which accounts for $13 billion in prescription spending every year, will remove more than 9,600 CVS pharmacy stores from its network, while adding around 8,000 Walgreens stores.
  • The change is expected to add $2.3 billion to Walgreens Boots Alliance’s top line, or $0.06–$0.08 in EPS, at the expense of CVS.

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