CVS taps key pharmacy services, consumer products execs

CVS Health has named two key leaders for its pharmacy and consumer products business, including a returning face to the company.

David Joyner, a former executive at the company, will make a return as the leader of its pharmacy services segment, which includes the Caremark pharmacy benefit manager, people familiar with the matter told the outlet. Joyner left CVS three years ago and will succeed Alan Lotvin, M.D., who is set to retire.

In addition, former Express Scripts President Amy Bricker will join the company as the chief product officer for the consumer segment, which centers on developing new products for CVS' consumer health brands.

Both will report CVS Health CEO Karen Lynch, according to the article. Joyner's first day on the job is Jan. 30, while Bricker will step into her role next month.

“David and Amy are accomplished leaders with proven track records of anticipating and meeting customer and client needs,” said Lynch in a press release. “David has deep experience in pharmacy benefit management that will help us deliver on our growth strategy for the business.”

The news was first reported by Bloomberg and later confirmed by CVS in the announcement.

That Bricker had departed Express Scripts, a subsidiary of Cigna, was revealed last week when the PBM announced it had named a new president, veteran supply chain leader Adam Kautzner. What was next for Bricker, however, was conspicuously absent from the announcement.

Express Scripts and Caremark are major rivals in the PBM space as two of the three companies that dominate the market, alongside UnitedHealth Group's Optum Rx. 

In November, government insurance giant Centene announced that it had selected Express Scripts as its PBM, switching from Caremark and adding about 20 million people to Express Script's rolls. The contract, valued at about $35 billion, is one of the largest swaps in recent years.

Lynch said on CVS' third-quarter earnings call that while Caremark may have lost a major client, the PBM was still an "important driver of growth" for the company.