According to a recent Fierce Healthcare article, CVS Health is shutting down its clinical trials arm, Clinical Trial Services, just two years after its launch. CVS plans to wind down the business in a phased manner and expects a full exit by the end of 2024. A company spokesperson stated that they would provide career transition support for affected employees who are unable to find another role within the company. The launch of Clinical Trial Services in May 2021 aimed to enhance participation in clinical trials and build upon CVS's existing relationships with drugmakers and community engagement efforts.
The COVID-19 pandemic, which highlighted the need for clinical trials and diversity in participant representation, played a big role in the national conversation. CVS had partnered with Medable in February 2022 to further develop its clinical trials business at MinuteClinics. Meanwhile, rival companies Walgreens and Walmart had also entered the clinical trials space in 2022.