Walgreens expands prescription delivery program nationwide
Walgreens is joining rival drugstore chain CVS Health in expanding home deliveries for prescriptions nationwide, as stores continue adjusting to a retail world made more consumer-friendly by online competition.
Aetna puts up strong 3Q numbers as CVS deal nears close
The health insurer Aetna made $1 billion and beat Wall Street expectations in what was likely its final full quarter as a publicly traded company before drugstore chain CVS Health takes over.
Lower federal taxes and growth in Aetna's Medicare business helped Aetna counter a $130-million hit it took in the third quarter from its former business in the Affordable Care Act's insurance marketplaces.
Aetna easily exceeds 2Q expectations
Aetna easily topped second-quarter earnings expectations as another drop in benefit expenses and lower taxes helped the nation's third-largest health insurer.
Net income inched up less than 1 percent to $1.21 billion, while earnings adjusted for non-recurring gains totaled $3.43 per share, the insurer said Thursday.
Analysts expected, on average, $3.07 per share, according to Zacks Investment Research.
Walgreens gave investors a better-than-expected third quarter, raised its dividend and detailed a big share buyback Thursday. None of this seemed to matter once markets opened.
Shares of the nation's largest drugstore chain and its competitors tanked after Amazon.com took another step into their territory by announcing the purchase of PillPack, a relatively new online pharmacy that offers pre-sorted prescription dose packaging and home delivery.
Health insurer Cigna is buying the nation's biggest pharmacy benefit manager, Express Scripts, the latest in a string of proposed tie-ups as health care's bill payers attempt to get a grip on rising costs.
The $52 billion deal announced Thursday follows the drugstore chain CVS Health Corp.'s roughly $69 billion bid to buy the insurer Aetna Inc., an acquisition the companies detailed in December.
CVS Pharmacy promises to end touchups of its beauty images
NEW YORK (AP) — Pharmacy giant CVS said it will stop significant touchups of images used in its advertising for beauty products.
The company said it has a responsibility to think about sending messages of unrealistic body images to girls and young women.
CVS Health Corp. said Monday it will not "materially" alter photos used in stores, on websites and on social media by changing a model's shape, size, skin or eye color or wrinkles.
CVS bids $69 billion for Aetna amid health care changes
Drugstore operator CVS is making a $69 billion offer for insurer Aetna as it tries to position itself as a one-stop shop for Americans' health care needs with prescription drugs, clinics and insurance plans to cover those goods and services.
The companies announced Sunday that CVS Health Corp. will pay about $207 in cash and stock for each share of Aetna Inc., a 29 percent premium over Aetna's stock price before the first report about a possible deal in October.
The Latest: CVS confirms its $69 billion for Aetna
DALLAS (AP) — The Latest on CVS' plan to buy insurance giant Aetna in a roughly $69 billion deal (all times local):
CVS is confirming that it's buying Aetna for $69 billion in a deal that will help the drugstore chain reach deeper into customer health care and protect a key client.
CVS Health Corp. released a statement Sunday saying it will pay cash and stock for Aetna Inc.
3 reasons why CVS would want to buy health insurer Aetna
A CVS-Aetna combination could create a health colossus that would reach deeper into the average customer's life to manage care and cut costs, according to analysts who follow the companies.
Drugstore chain and pharmacy benefits manager CVS Health Corp. has agreed to buy the nation's third-largest insurer, Aetna Inc., a person familiar with the matter told The Associated Press on Sunday. The deal would be worth about $69 billion.
The pharmacy market is one of the biggest potential new targets for Amazon.com Inc.
In June, the online retail giant moved into the roughly $800 billion U.S. grocery space by buying Whole Foods Market Inc. Drugs, a $450 billion industry in the U.S., are likewise most often sold from brick-and-mortar stores.
WASHINGTON — The big news in health care last week was the disclosure that CVS Health Corp. — owner of a vast network of drug stores — is considering buying Aetna Inc., one of the nation's largest health insurers, for about $66 billion. It's undeniably important, but why?
3 reasons why CVS would want to buy health insurer Aetna
A CVS-Aetna combination could create a health colossus that can reach deeper into the average customer's life to manage care and cut costs, according to analysts who follow the companies.
Aetna Inc. gained in New York trading after the Wall Street Journal reported that CVS Health Corp. is in talks to buy the insurer, offering more than $200 a share.
Aetna jumped 12 percent to $178.60, closing at a record high, while CVS fell 2.9 percent to $73.31. Spokesmen for Aetna and CVS declined to comment.
Aetna’s stock surges on report of CVS deal talks
OMAHA, Neb. (AP) — Aetna's stock has surged after a news report said CVS Health is in talks to buy the insurer a deal that could be worth more than $60 billion.
The Wall Street Journal reported on the deal talks Thursday. The newspaper cited people familiar with the matter and said CVS might pay more than $200 a share for the nation's third-largest health insurer.
Spokesmen for both companies declined to comment on the report.
HARTFORD — Attorney General George Jepsen is leading a bipartisan group of attorneys general in demanding health care companies that provide pharmacy benefit management services mitigate prescription opioid abuse.
“All of us - law enforcement, first responders, policymakers, healthcare providers, individuals and families - have an important role to play in addressing this epidemic,” Jepsen said.
Anthem will turn to CVS after troubled Express Scripts deal
Anthem has found a new partner to help run prescription drug coverage after the Blue Cross-Blue Shield insurer's rocky relationship with Express Scripts ends.
The nation's second-largest insurer says it will create a pharmacy benefits manager called IngenioRx starting in 2020 and will work with CVS Health Corp. to manage the business. Terms of the deal were not disclosed.
Shares of all three companies climbed on the news after markets opened Wednesday.
CVS customer seeks dismissal of recent drug prices lawsuit
A CVS customer wants to end a short-lived, federal lawsuit that hit the drugstore chain in a sensitive area: The prices it charges for prescriptions.
The customer accused CVS Health Corp. of conspiring with pharmacy benefits managers to charge insured patients more for some generic medicines than people who pay cash. The lawsuit filed earlier this month also said the chain wasn't telling customers about the potential savings they could gain by paying cash.
CVS generic competitor to EpiPen, sold at a 6th the price
CVS is now selling a rival, generic version of Mylan's EpiPen at about a sixth of its price, just months after the maker of the life-saving allergy treatment was eviscerated before Congress because of its soaring cost to consumers.
The drugstore chain says it will charge $109.99 for a two-pack of the authorized generic version of Adrenaclick, a lesser-known treatment compared to EpiPen, which can cost more than $600.
Total Employees: 243,000Year Founded: 1963CVS Health operates more than 9,600 stores globally.
Walgreens, Rite Aid shed 865 stores to close $9.4B deal
Walgreens and Rite Aid will sell 865 stores to rival retailer Fred's for $950 million, potentially removing the final roadblock thwarting a tie up between the nation's largest and third-largest drugstore chains.
Wall Street certainly saw it that way, sending shares of all three companies higher in early trading Tuesday.
CVS Health’s 3Q profit jumps, but revenue disappoints
CVS Health Corp. missed Wall Street's revenue expectations in the third quarter, despite sales jumping due to acquisitions. The company trimmed its profit forecast for this year, triggering a stock sell-off.
CVS Health Corp. to cut 600 employees in corporate offices
WOONSOCKET, R.I. (AP) — CVS Health has announced that it is letting go of about 600 employees as it streamlines operations.
The layoffs this month and next mostly affect corporate offices in three states. The Woonsocket, Rhode Island-based company employs more than 240,000 people nationwide.
About 250 jobs are being cut in Rhode Island, 70 in Arizona and 50 in Illinois.
Omnicare to shell out another $28M on kickback litigation
Omnicare will pay more than $28 million to resolve allegations that the drug distributor accepted kickbacks for pushing an anti-seizure medication on doctors treating nursing home patients.
CVS to pay Massachusetts $795K, tighten policies for opioids
BOSTON (AP) — CVS Health Corp. has agreed to pay Massachusetts $795,000 and will tighten its policies for dispensing opioids following an investigation into its drug prescription practices, Attorney General Maura Healey said Thursday.
Healey said a settlement reached between the state and the Woonsocket, Rhode Island-based drug store giant resolves past allegations.
The acquisition of more than 1,600 Target pharmacies by Rhode Island-based CVS Health Corp. doesnt inspire the same retail nostalgia as did the buyout of Daytons department stores nor should it. Customers in Minnesota and elsewhere were well-served by the Target staff. That shouldnt change under CVS, a trusted brand name whose stores are a fixture on the East Coast.
But as Target customers transfer their prescriptions, CVS is missing a key chance to ensure that its new...
CVS Health beat second-quarter earnings expectations and nudged its 2016 forecast higher after the drugstore chain and pharmacy benefits manager reaped gains from a couple of deals and its sales of pricey specialty drugs rose.
The Woonsocket, Rhode Island, company said Tuesday that acquisitions of Omnicare Corp. and a separate purchase of the pharmacy and clinic business of retail giant Target Corp. helped revenue for its retail/long-term care business. Meanwhile, new...
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