Blue Shield of California to drop CVS Health’s Caremark PBM, WSJ says

Blue Shield of California announced it will drop the complicated system that Americans use to pay for drugs, and create something that seeks to be better, with partners including Amazon.com (AMZN) and entrepreneur Mark Cuban, The Wall Street Journal’s Anna Wilde Mathews reports. Blue Shield of California said it is dropping CVS Health’s (CVS) Caremark, the pharmacy-benefit manager it currently uses, which negotiates drug prices and wraps in other services such as a mail-order pharmacy. Instead, Blue Shield will work with a selection of companies that each perform a designated function. Amazon will offer at-home drug delivery. Cuban said Mark Cuban Cost Plus Drug Company will provide access to low-cost medications, including through retail pharmacies. Another company, Abarca, will process drug claims.