“People are finally starting to understand that this isn’t a transition year [for CVS], it’s a transition decade,” one analyst says.
The company said it expects to complete its acquisition of Aetna by Thanksgiving.
It may take awhile, but the recent mergers of health insurers and pharmacy benefits managers could meaningfully mitigate the costs of care.
A 9.5% surge in same-store prescription volume in Q2 helped offset a 1% decline in front-end same-store sales.
Aetna, CVS Health, Bed Bath & Beyond, BankMobile, Bruker, Sealed Air, CPI Card Group, Lumentum, FactSet Research, Cal-Maine Foods, F5 Networks
The state alleges distributors and pharmacies have contributed to the opioid epidemic by failing to prevent the "diversion" of the addictive painkillers.
The deal continues the health insurance giant's shift to patient care services as it tries to cut medical costs.
The $69 billion deal is "a case of a sector self-disrupting before an actual disruptor shows up," Forbes says, referring to Amazon.
Pharmacy services continues to be a bright spot for CVS amid increasing pressure on its traditional retail drugstore sales.
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The deal will further CVS' goal of "becoming the most significant company in the drug distribution and reimbursement system.”
The $12.7 billion deal will boost the drug store chain's business of providing prescription services to senior-living facilties.
