CVS Health and Walgreens to Administer Free Coronavirus Vaccines

President Trump announced a coronavirus vaccine deal with two of the country's largest retail pharmacy chains, CVS Health (NYSE:CVS) and Walgreens (NASDAQ:WBA), during a speech in Florida on Friday afternoon.

The Pharmacy Partnership for Long-term Care Program is a new arrangement between the U.S. Department of Health and Human Services (HHS), the Department of Defense (DOD), CVS Health, and Walgreens. Once a vaccine becomes available, vaccines administered by one of the pharmacy chains partnered with the government will not be attached to any out-of-pocket costs.