Walgreen to stay in pharmacy benefit deal with CVS

NEW YORK (AP) - CVS Caremark and Walgreen say they have agreed on a deal under which Walgreen will continue participating in its drug store rival's pharmacy benefit management program.

Details of the deal announced Friday were not disclosed. Shares of both companies surged.

CVS Caremark Corp., based in Woonsocket, R.I., said Walgreens' participation means the CVS Caremark national pharmacy network will have more than 64,000 participating pharmacies.

Walgreen Co., based in Deerfield, Ill., wanted to be paid more for filling prescriptions. Caremark makes money by reducing costs for plan members and sponsors.