CVS Caremark to cut off Walgreen from network

WOONSOCKET, R.I. (AP) - CVS Caremark says it's ending rival Walgreen's participation in its retail pharmacy network starting next month.

The Woonsocket, R.I. pharmacy benefits manager and drugstore retailer says it will stop participation 30 days from Wednesday or as required by law or contract requirements. It also will end Walgreen's participation in its Medicare Part D retail pharmacy network on Jan. 1.

Walgreen Co., of Deerfield, Ill., had said earlier this week it will no longer do business with CVS Caremark Corp.'s pharmacy benefits management operation because it wants better prices and objects to policies that drive customers to CVS stores.

Walgreen is the largest U.S. drugstore chain based on locations and revenue, slightly ahead of CVS Caremark.