A formulary drug is a brand-name medication that the plan has determined to be reasonable in cost and effective for treatment. These drugs are placed on a formulary list. Using a drug on the formulary list will save you money over a non-formulary drug. A group of practicing physicians and pharmacists routinely reviews drugs to include in a formulary. If clinical data shows several drugs are equally effective, the most cost-effective drug is usually chosen. View CVS Caremark’s formulary list at caremark.com.