---
schema_version: "secwatch.filing_event.v1"
accession: "0000947871-23-000871"
form_type: "8-K"
ticker: "CVS"
cik: "0000064803"
company_name: "CVS HEALTH Corp"
filed_at: "2023-08-17T23:59:59+00:00"
generated_at: "2026-06-11T08:05:45.959927+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Blue Shield of California to drop CVS Caremark as PBM except specialty; CVS reaffirms 2023 guidance

## Summary
- Blue Shield of California will use multiple pharmacy providers starting 2024; CVS Caremark retained only for specialty pharmacy.
- Partial contract termination has no impact on CVS's 2023 guidance and immaterial longer-term impact.
- CVS reaffirms 2023 GAAP diluted EPS range $6.53-$6.75, adjusted EPS $8.50-$8.70, cash flow from ops $12.5B-$13.5B.
- CVS states CVS Caremark remains the leading U.S. PBM by members and health plans served.

## SEC filing metadata
- accession: 0000947871-23-000871
- form_type: 8-K
- ticker: CVS
- cik: 0000064803
- company_name: CVS HEALTH Corp
- filed_at: 2023-08-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64803/000094787123000871/0000947871-23-000871-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64803/000094787123000871/ss2400841_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000947871-23-000871
- JSON: https://secwatch.observer/filing/0000947871-23-000871.json
- Plain text: https://secwatch.observer/filing/0000947871-23-000871.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.