A bill introduced by Rep. Buddy Carter would ban PBMs’ use of spread pricing in Medicaid, among other reforms.

The contract, though sizable, is likely immaterial to CVS’ earnings. But it moves the company in a positive direction as it continues to struggle with recent challenges, an analyst said.

CVS Health’s Caremark business signed a new pharmacy benefits contract with the California Public Employees’ Retirement System, known as Calpers.