Florida Attorney General James Usmeyer has launched an investigation into CVS Health Corporation and its pharmacy benefit management company Caremark, alleging that their business practices may be harming Florida’s families, seniors and independent pharmacies.
Usmeyer announced that his office has filed a civil investigative demand against CVS Health Corporation, which owns both Caremark and hundreds of CVS retail pharmacies across Florida.
“Florida’s families and seniors deserve access to affordable medicine and real pharmacy options, not a system manipulated by giant corporations that favor their own stores and potentially crowd out their competitors,” Usmeyer said. “This investigation will uncover the truth and protect fair competition for all Floridians.”
The investigation focuses on whether CVS and Caremark used their market positions to drive patients to CVS-affiliated pharmacies, reimbursed CVS-affiliated pharmacies at higher rates than independent competitors for the same prescriptions, imposed burdensome audits, and enforced restrictive agreements that could threaten smaller pharmacies.
Pharmacy benefit managers, commonly known as PBMs, play an important role in the prescription drug market. They help determine which drugs are covered by insurance plans, how much they will be reimbursed at pharmacies, and where patients can fill prescriptions. Caremark is one of the nation’s largest PBMs.
According to the Attorney General’s Office, the three major PBMs, including Caremark, handle about 80% of prescriptions in the United States. CVS Health also owns more than 9,000 pharmacies across the United States, including approximately 800 pharmacies in Florida. State officials say the merger raises concerns about vertical integration and whether the company favors its pharmacies over its competitors.
Health Care Agency Director Shevan Harris said the investigation was part of a broader effort to seek accountability in the health care system.
“Floridians expect a health care system that works for them, not against them,” Harris said. “The Attorney General’s action is an important step toward that future, and AHCA is proud to collaborate in this effort to ensure PBM accountability.”
Advocates for independent pharmacies also praised the move. Aneesh Lakhani, president-elect of the Florida Pharmacy Association, said this study sends a strong message to the PBM industry.
“The Attorney General’s actions today send a clear and necessary message that the days of unchecked PBM abuse in Florida are over,” Lakhani said. “My patients deserve better. Florida deserves better. The system isn’t broken, the PBMs broke the system. We won’t rest until they are held fully accountable.”
According to the attorney general’s office, the subpoena asks CVS Health & Caremark to produce thousands of documents and sworn testimony regarding reimbursement rates, pharmacy contracts, patient relations, audits, rebates, treatment of CVS-owned and independent pharmacies, expansion plans, and more.
The company must respond to the civil investigation request by July 28, 2026.
State officials say the investigation is aimed at determining whether CVS Health and Caremark’s practices limit consumer choice, increase prescription costs or contribute to pharmacy closures and so-called “pharmacy deserts” in Florida communities.
