ELV · 10-Q · 2026Q2 · Full report

CarelonRx CVS Agreement

Elevance Health, Inc. · 2026-07-15 · Importance 26 · Surprise 24

CarelonRx delegates certain core pharmacy services to CaremarkPCS Health, L.L.C. (a CVS subsidiary) under the CVS Agreement with a contractual term through December 31, 2027. Elevance may elect to extend CVS services for a three-year extension period on the same terms and conditions if either party terminates or does not renew the agreement. This contractual arrangement affects the delivery of home delivery, specialty pharmacy, claims adjudication and other core pharmacy services to both affiliated and unaffiliated customers, and therefore is operationally significant for CarelonRx. The company continues to operate under this delegation while evaluating its pharmacy services strategy.

Key facts

• CarelonRx delegates certain core pharmacy services to CaremarkPCS Health, L.L.C. pursuant to an agreement with the current contractual term extending through December 31, 2027. source
• We can elect to have CVS continue to provide services to us for a three-year extension period on the same terms and conditions as in the current CVS Agreement in the event of a termination or non-renewal by either party. source