ATLAS News · Companies
CVS Health plans a breakup into two companies, separating insurer Aetna and Caremark from its retail pharmacies, according to Word & Brown General Agency.
CVS Health plans to divide into two separate companies, according to Word & Brown General Agency. The move is described as one of the largest corporate breakups in history.
One company would house the insurance arm Aetna and the pharmacy benefit manager Caremark. The other would hold the retail business, with its 9,000 pharmacies.
Word & Brown General Agency says media reports had rumored the split on Tuesday and that executives confirmed it on Wednesday. It adds that the plan comes a decade after a $78 billion merger. Quiver Quantitative also refers to a raised outlook alongside the breakup plan, while Yahoo Finance notes an upgrade of the stock to Zacks Rank #2 (Buy).
CVS Health combines retail pharmacies with health insurance and pharmacy benefit management in one corporate group.
A breakup of this scale could change how investors view each business and how CVS Health is structured, though the outcome is not known.
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
Healthcare · NYSE
live price · USD
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