Humana Inc reported a 28 percent drop in quarterly profit as it set aside more money to cover losses in its Obamacare business, and the company said it would discontinue next year most of these plans sold off public exchanges.
Aetna Inc said on Tuesday that it no longer planned to expand its Obamacare business next year and would sell some Medicare Advantage assets as it fights to gain antitrust regulators' approval for its takeover of Humana Inc .
Keryx Biopharmaceuticals Inc withdrew its full-year forecast due to a disruption in production of its only approved drug, Auryxia, sending its shares down by more than a third in morning trading on Monday.
Health insurer Cigna Corp reported a lower-than-expected quarterly profit due to losses in its group disability and life business, and said it would look at acquisition targets if its proposed takeover by Anthem Inc did not materialize.
Health insurer Anthem Inc on Wednesday vowed to fight U.S. government efforts to block its planned acquisition of Cigna Corp and said it expects to lose money this year on its business selling individual health coverage under President Barack Obama's healthcare law.
Health insurer Anthem Inc on Wednesday
said it was committed to its planned acquisition of Cigna Corp
and again vowed to fight U.S. government efforts to block
the deal, saying the merger will help lower costs for consumers.
Centene Corp's chief executive said the mid-cap health insurer did not have the network for the Medicare Advantage assets Aetna Inc or other large managed care companies are looking to sell as part of the industry-wide consolidation.
Abbott Laboratories reported better-than-expected quarterly sales and profit as strong sales in its medical device business more than made up for the hit from an economic turmoil in Venezuela.
UnitedHealth Group Inc is still losing
money on the individual insurance business created under U.S.
President Barack Obama's national healthcare reform law due to
customers' high medical costs, the company said on Tuesday.
General Mills Inc said it was recalling two flavors of Betty
Crocker cake mix in the United States and one in Canada as part of a recall of
some flour products following an E. Coli outbreak.