CVS pharmacy upending the way it prices prescription drugs

One of the nation's largest pharmacy chains is planning to overhaul the way it reimburses its pharmacies for prescriptions as the industry works to provide greater clarity on drug pricing.

CVS Pharmacy announced on Tuesday that it is launching a new reimbursement model, CVS CostVantage, that will reset how reimbursement happens in an industry and ensure drug prices reflect how much pharmacies pay for the drugs themselves. 

It will not only bring "greater transparency" but "simplicity to the system," CVS said.