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CVS Health Corp (CVS)

CVS on New York Consolidated

53.70USD
26 Jun 2019
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Latest Key Developments (Source: Significant Developments)

Premier Inc. To Exit Specialty Pharmacy Business
Monday, 6 May 2019 05:15pm EDT 

May 6 (Reuters) - Premier Inc ::PREMIER INC. TO EXIT SPECIALTY PHARMACY BUSINESS.PREMIER INC - TO MOVE REINFORCES STRATEGIC FOCUS ON CORE BUSINESSES.PREMIER INC - RELATED IMPAIRMENT AND EXIT-COST CHARGES EXPECTED TO BE RECORDED IN CURRENT QUARTER.PREMIER INC - WILL SELL CERTAIN ASSETS RELATED TO ITS SPECIALTY PHARMACY BUSINESS FOR $22.5 MILLION, PLUS UP TO ADDITIONAL $20.0 MILLION FOR INVENTORY.PREMIER INC - SALE MADE IN CONNECTION WITH PLANS TO DISCONTINUE SPECIALTY PHARMACY OPERATIONS BY ACRO PHARMACEUTICAL SERVICES, COMMCARE PHARMACY.PREMIER INC - PROCEEDS FROM DEAL TO BE USED PRIMARILY TO FUND COSTS ASSOCIATED WITH DEAL, WIND DOWN & EXIT FROM SPECIALTY PHARMACY OPERATIONS.PREMIER INC -TO RECORD NON-CASH IMPAIRMENT CHARGE OF ABOUT $87 MILLION-$92 MILLION FOR GOODWILL, PURCHASED INTANGIBLES, OTHER ASSETS OF SPECIALTY PHARMACY BUSINESS.PREMIER INC - EXPECTS TO INCUR ONE-TIME, DEAL AND EXIT-RELATED PRE-TAX CHARGES OF ABOUT $11 MILLION-$15 MILLION.PREMIER INC - MONDAY'S ACTIONS EXPECTED TO INCREASE CONSOLIDATED NON-GAAP ADJUSTED EBITDA MARGIN TO ABOUT 45% FOR FULL 2019 FY.PREMIER INC - SOME CONSOLIDATED SUBSIDIARIES ENTERED INTO DEFINITIVE ASSET PURCHASE AND SALE AGREEMENT WITH PROCARE PHARMACY LLC.  Full Article

DFS says Acts Against Health Insurers For Violations Related To Contraceptive Coverage
Friday, 3 May 2019 11:21am EDT 

May 3 (Reuters) - Department of Financial Services::DFS TAKES ACTION AGAINST HEALTH INSURERS FOR VIOLATIONS OF INSURANCE LAW RELATED TO CONTRACEPTIVE COVERAGE.DFS - INVESTIGATION FINDS THAT TEN HEALTH INSURERS, INCLUDING AETNA AND OXFORD, IMPROPERLY EXEMPTED EMPLOYERS FROM PROVIDING CONTRACEPTIVE COVERAGE.DFS - INSURERS TO PAY $509,000, ISSUE CLAIM RESTITUTION AND REIMBURSEMENTS FOR INSUREDS WHO SHOULD HAVE RECEIVED CONTRACEPTIVE COVERAGE.DFS - INSURERS IMPROPERLY GRANTED RELIGIOUS EMPLOYER EXEMPTION REQUESTS TO MORE THAN 30 ENTITIES THAT DID NOT MEET REQUIREMENTS OF INSURANCE LAW.  Full Article

CVS Health Corp Says CEO Larry Merlo's FY 2018 Total Compensation Was $21.9 Million
Friday, 5 Apr 2019 04:22pm EDT 

April 5 (Reuters) - CVS Health Corp ::CVS HEALTH CORP SAYS CEO LARRY MERLO'S FY 2018 TOTAL COMPENSATION WAS $21.9 MILLION VERSUS $23.3 MILLION IN FY 2017 - SEC FILING.CVS HEALTH CORP SAYS COO JONATHAN ROBERTS' FY 2018 TOTAL COMPENSATION WAS $16.1 MILLION VERSUS $6.9 MILLION IN FY 2017.CVS HEALTH CORP SAYS RATIO OF CEO ANNUAL COMPENSATION TO MEDIAN EMPLOYEE FOR 2018 IS 618-TO-1.  Full Article

Aetna Heads A $25 Mln Investment Round Into Map Health Management
Thursday, 7 Mar 2019 09:05am EST 

March 7 (Reuters) - CVS Health Corp ::AETNA HEADS A $25 MILLION INVESTMENT ROUND INTO MAP HEALTH MANAGEMENT.MAP HEALTH MANAGEMENT - COMPLETION OF $25 MILLION PLACEMENT OF SERIES A PREFERRED AND COMMON UNITS IN A ROUND HEADED BY AETNA, A CVS HEALTH BUSINESS.  Full Article

CVS CEO Says Sees Proposed Rebate Rule "Taking Us Backwards Not Forward"
Wednesday, 20 Feb 2019 12:58pm EST 

Feb 20 (Reuters) - CVS Health Corp ::CVS HEALTH CORP SAYS PRICES FOR NON SPECIALTY MEDICATIONS FELL 4.2 PERCENT FOR COMMERCIAL CLIENTS; PRICES FOR SPECIALTY PRODUCTS GREW 1.7 PERCENT IN 2018.CVS HEALTH CORP SAYS OPERATING INCOME FOR PBM BUSINESS WILL BE DOWN MID-SINGLE DIGITS VERSUS 2018 - CONF. CALL.CVS SAYS ANTHEM PBM CONTRACT IS A "STRONG HEADWIND" DUE TO INVESTMENT NEEDED TO ACCELERATE START DATE.CVS CEO SAYS SEES PROPOSED REBATE RULE "TAKING US BACKWARDS NOT FORWARD" - CONF. CALL.  Full Article

CVS Health Reports Q4 Adjusted Earnings Per Share Of $2.14
Wednesday, 20 Feb 2019 06:55am EST 

Feb 20 (Reuters) - CVS Health Corp ::CVS HEALTH REPORTS FOURTH QUARTER AND FULL YEAR RESULTS AND PROVIDES 2019 FULL YEAR GUIDANCE.Q4 ADJUSTED EARNINGS PER SHARE $2.14.Q4 GAAP LOSS PER SHARE $0.37 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE ESTIMATE $2.05 -- REFINITIV IBES DATA.SEES FY 2019 ADJUSTED EARNINGS PER SHARE $6.68 TO $6.88.SEES FY 2019 GAAP EARNINGS PER SHARE $4.88 TO $5.08 FROM CONTINUING OPERATIONS.QTRLY REVENUES INCREASED 12.5% TO $54.4 BILLION.CVS HEALTH - SEES 2019 CASH FLOW FROM OPERATIONS BETWEEN $9.8 BILLION TO $10.3 BILLION.Q4 GAAP LOSS PER SHARE FROM CONTINUING OPERATIONS INCLUDED A $2.2 BILLION, OR $1.99 PER SHARE, GOODWILL IMPAIRMENT CHARGE RELATED TO LTC BUSINESS.Q4 REVENUE VIEW $54.58 BILLION -- REFINITIV IBES DATA.  Full Article

Omega Advisors Reports Share Stake Of 795,900 Shares In CVS Health As Of Dec 31 Vs 394,600 Shares As Of Sept 30
Thursday, 14 Feb 2019 11:29am EST 

Feb 14 (Reuters) - Omega Advisors: :OMEGA ADVISORS REPORTS SHARE STAKE OF 795,900 SHARES IN CVS HEALTH CORP AS OF DEC 31 VERSUS 394,600 SHARES AS OF QUARTER ENDED SEPT 30, 2018 - SEC FILING.OMEGA ADVISORS - CHANGE IN HOLDINGS ARE AS OF DECEMBER 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF SEPTEMBER 30, 2018.  Full Article

Aetna Announces Attain, Which Combines Health History With Apple Watch Information
Tuesday, 29 Jan 2019 05:00am EST 

Jan 29 (Reuters) - CVS Health -:AETNA ANNOUNCES ATTAIN, A PERSONALIZED WELL-BEING EXPERIENCE THAT COMBINES HEALTH HISTORY WITH APPLE WATCH INFORMATION TO EMPOWER BETTER HEALTH.LAUNCH BUILDS ON 2016 COLLABORATION BETWEEN AETNA AND APPLE; ATTAIN APP IS EXPECTED TO BE AVAILABLE IN APPLE APP STORE IN SPRING 2019.  Full Article

Walmart Remains "Focused On Continuing Discussions With CVS Caremark"
Tuesday, 15 Jan 2019 01:20pm EST 

Jan 15 (Reuters) - Walmart Inc ::WALMART REMAINS "FOCUSED ON CONTINUING DISCUSSIONS WITH CVS CAREMARK AND TRYING TO FIND A SOLUTION THAT BENEFITS ALL PARTIES" - SPOKESPERSON.  Full Article

Walmart Expected To Leave CVS Caremark Pharmacy Network Amid Dispute - WSJ
Tuesday, 15 Jan 2019 07:40am EST 

Jan 15 (Reuters) - :WALMART EXPECTED TO LEAVE CVS CAREMARK PHARMACY NETWORK AMID DISPUTE - WSJ.CVS HAS ASKED WALMART TO REMAIN IN ITS NETWORKS THROUGH APRIL 30. IF WALMART DOESN'T AGREE,SPLIT WILL TAKE EFFECT IN EARLY FEB. - WSJ CITING SOURCE.  Full Article

Former CVS exec can't work for Amazon's PillPack, judge rules

A federal judge on Tuesday blocked a former CVS Health executive from working at Amazon.com Inc's PillPack online pharmacy unit, saying that allowing him to take a job where he would help drive its "disruptive strategy" would violate a non-compete agreement.