February 6, 2020 / 11:11 AM / 22 days ago

Health insurer Cigna posts near seven-fold jump in quarterly profit

Feb 6 (Reuters) - Cigna Corp reported a near seven-fold jump in quarterly profit on Thursday, benefiting from its $52 billion acquisition of pharmacy benefits manager Express Scripts.

The health insurer, which closed the deal in 2018, said net income attributable to shareholders rose to $977 million, or $2.60 per share, in the fourth quarter ended Dec. 31, from $144 million, or 55 cents per share, a year earlier.

Total revenue jumped to $38.25 billion from $14.30 billion.

Reporting by Tamara Mathias and Manojna Maddipatla in Bengaluru; Editing by Arun Koyyur

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