DIRS.INFO The most relevant business & tech news

☆ Many people using GLP-1s for weight loss stop treatment too soon, research shows, and results are not one-size-fits-all
▼ + stars: | 2024-05-21 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +8 min

Professional organizations have set this as a guideline for when to reassess whether a treatment is providing clinically meaningful weight loss. People who met with their providers less frequently – and those living in underserved regions with broader health inequities – were more likely to discontinue GLP-1 treatment sooner. But using GLP-1 treatments are still an investment in many ways. These injected medications, called GLP-1 agonists, are in high demand because they have proved to be so effective for weight loss. And experts warn that the GLP-1 treatment process can be different for everyone.

Persons: ”, Disha, Wegovy, Jody Dushay, Beth, There’s, Razia Hashmi, ” Hashmi, it’s, “, Dr, Sanjay Gupta, ” Narang, ” Dushay Organizations: CNN, Endeavor Health, Beth Israel Deaconess Medical Center, Harvard Medical School, Shield, Dandelion Health, CNN Health, “ Locations: Chicago, –, GLP

☆ CVS posts big earnings miss, cuts profit outlook on higher medical costs
▼ + stars: | 2024-05-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. The drugstore chain expects 2024 adjusted earnings of at least $7 per share, down from a previous guidance of at least $8.30 per share. The company said its new outlook assumes that higher medical costs in its insurance business during the first quarter will persist throughout the year. Medicare Advantage, a privately run health insurance plan contracted by Medicare, has long been a key source of growth and profits for the insurance industry. Excluding certain items, such as amortization of intangible assets and capital losses, adjusted earnings per share were $1.31 for the quarter.

Persons: LSEG, Karen Lynch, Caremark, Tyson Foods, CVS's Caremark, Cuban's Organizations: CVS Health, CVS, Aetna, UnitedHealth, Medicare, LSEG, Blue, Amazon Pharmacy, Oak Street Health Locations: California

☆ Exclusive: Ex-Truepill CEO just scored $6 million to help health plans and pharma companies ditch middlemen and work closely with patients
▼ + stars: | 2024-03-11 | by ( ) www.businessinsider.com time to read: +5 min

He's launched a new company, Foundation Health, to help them do that quickly and at a low cost. Foundation aims to make it easy for insurers to set up their own online pharmacies and pharma companies to sell drugs directly to consumers. "The main focus area for us is to help health plans disintermediate PBMs," Afridi said. Foundation Health wants to help customers ditch big PBMsFoundation's software enables a few different things. Finally, direct-to-consumer health companies can plug into Foundation's technology to power their services, instead of building their own pharmacies and hiring doctors.

Persons: Umar Afridi, disruptors, Afridi, He's, disintermediate, Garry Tan, Y, they've, pocketing, Eli Lilly's, Jack Altman Organizations: California, Cuban, Plus, Business, Foundation Health, Foundation, pharma, Alt, Liquid Ventures, Exceptional, Storm Ventures, PageOne Ventures, Federal Trade Commission Locations: drugmakers

Mark Harris has won the Republican nomination for a U.S. House seat in North Carolina, giving the pastor a second chance to go to Washington after a 2018 absentee ballot scandal. Harris will face Democrat Justin Dues in November in a district running from Charlotte east to Lumberton that was drawn to heavily favor Republicans. While the investigation led to charges against several people and some convictions, Harris wasn’t charged, cooperated with investigators and called for a new election. Harris did not run again, however, and the seat was won by Republican U.S. Rep. Dan Bishop. In addition, Republicans Bishop and U.S. Rep. Patrick McHenry decided not to run again, opening their Republican-dominated districts to new representation.

Persons: Mark Harris, Harris, Allan Baucom, Justin, Harris wasn’t, Dan Bishop, Bishop, ”, Kelly Daughtry, Brad Knott, Daughtry, Addison McDowell, Mark Walker, Patrick McHenry Organizations: Republican, U.S, Union, U.S . House, State Board, Republican U.S . Rep, Blue Shield, U.S . Rep, Democratic, Republicans, Assembly, Republicans Bishop Locations: North Carolina, Washington, state's, Union County, Charlotte, Lumberton, District, Smithfield, Raleigh, 6th, North Carolina's

☆ Cyberattack on health insurance IT giant continues to disrupt business for doctors, therapists
▼ + stars: | 2024-02-28 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +6 min

“I’ve begun manually billing and I’m praying that I will be paid,” Disney told CNN. Lack of payment isn’t sustainableCarter Groome, chief executive of Health First Advisory, a cybersecurity firm whose clients include big health care organizations, estimated that some health care providers are losing more than $100 million per day because of the outage. “That’s just not sustainable in an industry with not a lot of cash on hand,” Groome told CNN. As of Wednesday morning, Change Health Care said the company’s affected network was still offline. Hackers using the malware have claimed a slew of attacks on US universities, health care providers and hotels in the last 18 months.

Persons: “ I’ve, ” Disney, Purvi, Parikh hasn’t, Carter Groome, That’s, ” Groome, ”, Leslie Porras, ” Porras, Tyler Mason, Mason, Parikh, ” Mason, Amy Cizik, Cizik, ” Cizik, Andrea Palm, ALPHV ransomware, John Riggi, ” Riggi Organizations: Washington CNN, CNN, Disney, Health, Advisory, Pipeline, ”, Healthcare, Care, “, Senior US, FBI, Human Service, Homeland Security, Reuters, Justice Department, American Hospital Association, AHA Locations: Maryland, New York, Utah, Salt Lake City

Humana surprised Wall Street again on Thursday with a lower-than-expected earnings forecast as insurers that sell Medicare Advantage plans continue to struggle with rising care costs. Health insurance stocks tumbled last week after Humana also scaled back its 2023 profit expectations due to those rising costs. Humana said then that its Medicare Advantage patients used more inpatient care than it expected in November and December. The health insurer also saw more growth in care that doesn’t involve a hospital stay, like doctor visits and outpatient surgeries. Medicare Advantage plans are one of Humana’s biggest forms of coverage outside insurance it provides for military families and retirees.

Persons: Wall, Humana, UnitedHealth Organizations: Humana, Medicare, Inc, Humana Inc, Analysts, Elevance Health Locations: Louisville , Kentucky

☆ Walgreens is following Mark Cuban's blueprint as it embarks on a big strategy shift for prescription drugs
▼ + stars: | 2024-01-05 | by ( ) www.businessinsider.com time to read: +5 min

Pharmacies are changing how they get paid, and Walgreens wants a piece of the action. It's a departure from the traditional, complicated way drugs are paid for, and proponents say it could make drug pricing more transparent and predictable. It's not a given patients will pay less for drugs at the pharmacy counter under this kind of model. These companies are taking cues from Mark Cuban's Cost Plus Drugs, which is starting to gain traction in the market. The big question is whether Walgreens can compete with CVS and other pharmacies in delivering those extra pharmacy and healthcare services.

Persons: Tim Wentworth, Mark, Wentworth, Borja, Hojas, they're, Caremark, Brian Tanquilut, Tanquilut, CVS, Cigna, Mark Cuban's, It's, Rosalind Brewer Organizations: Walgreens, Business, CVS Health, Getty, CVS, Jefferies, Health Locations: California

☆ OpenAI's nonprofit arm showed revenue of $45,000 last year, even though company is worth billions
▼ + stars: | 2023-12-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +6 min

That's from the nonprofit parent's 990 filing with the Internal Revenue Service, a form that has to be filled out by organizations wishing to maintain their tax-exempt status. Thad Calabrese, a professor of public and nonprofit financial management at New York University, said OpenAI's current status is confusing, and is unlike anything he has seen in the nonprofit world. He said OpenAI could give up its nonprofit status, and he cited the Blue Cross Blue Shield Association, which in 1994 allowed associated nonprofit medical insurance plans to switch into for-profit entities. An OpenAI spokesperson didn't respond to a question about whether the organization is considering giving up its nonprofit status. Unlike OpenAI, Mozilla never raised money from venture and corporate investors, who expect returns on their investments.

Persons: Sam Altman, OpenAI's financials, OpenAI, That's, PlainSite, Altman, Helen Toner, Tasha McCauley, Ilya Sutskever, Thad Calabrese, Calabrese, didn't, Mark Surman, Surman, Altman's, hasn't, Bret Taylor Organizations: Internal Revenue Service, CNBC, New York University, Shield Association, Mozilla Foundation, Mozilla Corporation, Mozilla, Microsoft, Duke University Locations: California

☆ CVS will change the way it prices drugs
▼ + stars: | 2023-12-05 | by ( Tami Luhby | Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN —CVS is revamping the way it reimburses its pharmacies for prescription medications, a move that could make prescription drug pricing simpler and change how much consumers pay for their medicines. It’s a similar model to the one entrepreneur Mark Cuban is pushing with his Cost Plus Drugs company. This shift in payment models could change the cost of prescription drugs for some patients, although it will not necessarily make all medicine cost less. Some drugs may cost less, while others might rise in price, CVS executives said. Americans spend around $1,200 a year on average for prescription drugs — more than any other country — according to the Organization for Economic Co-operation and Development.

Persons: Mark Cuban, ”, Prem Shah, Nick Fabrizio, Fabrizio, they’ve Organizations: New, New York CNN, CVS, Plus, CVS Pharmacy, CVS Health, Cornell University, Organization for Economic Co, Kaiser Family Foundation, Amazon Pharmacy, Cuban, Plus Drug, Blue Locations: New York, California

☆ How Mark Cuban forced the biggest US pharmacy to upend its business
▼ + stars: | 2023-12-05 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

The new program includes a set markup for medication costs, a step toward drug pricing transparency. The retailer has been facing pressure from new models like Mark Cuban Cost Plus Drugs. They've been especially focused on pharmacy-benefit managers and the lack of transparency around how much drugs cost. How Mark Cuban changed drug pricingCuban's pharmacy buys drugs directly from manufacturers and sells them to consumers at a 15% markup, plus pharmacy fees. AdvertisementBut the announcement looks to be a step in the right direction for drug pricing transparency.

Persons: —, Mark, Prem Shah, Mark Cuban, GoodRx, PBMs, Kroger, it's Organizations: CVS, Cuban, Plus, Service, Mark Cuban, Federal, US Federal Trade Commission, CVS Health, Kroger, Walgreens, Drug, Wall Street Locations: California

☆ How an L.A. Rams Training Complex Could Help Transform Urban Sprawl
▼ + stars: | 2023-11-23 | by ( Arielle Paul | ) www.nytimes.com time to read: +1 min

The San Fernando Valley, once an endless ramble of orange groves in Southern California that evolved into the porn capital of the world in the 1970s and later gave way to big-box retailers and strip malls, will now become the home of the 2021 season’s Super Bowl champions, the Los Angeles Rams. In a $650 million land deal by the team’s owner, Stan Kroenke, Rams executives laid out their vision last week for revitalizing nearly 100 acres in the valley’s Woodland Hills neighborhood into a sports-centric, live-work-play development, including a practice facility and team headquarters. The deal includes two properties owned by Westfield, a shopping center developer that is pulling out of the U.S. market, as well as an abandoned 13-story building and parking lot that Anthem Blue Cross Blue Shield owned. After the coronavirus pandemic hastened the embrace of online retail and remote work, blighted malls and office buildings have closed their doors. The vacant properties and their adjoining parking lots now offer a chance to redevelop valuable square footage in neighborhoods like Woodland Hills.

Persons: Stan Kroenke Organizations: Bowl, Los Angeles Rams, Rams, Westfield Locations: San Fernando Valley, Southern California, Woodland, U.S

☆ Largest Starbucks strike in history is planned for Thursday. It shows US labor unrest isn’t over yet
▼ + stars: | 2023-11-16 | by ( Chris Isidore | Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

But the union said the limited duration strike on a key promotion day for Starbucks is important in its efforts to win their first contract at the chain. The union, Starbucks Workers United, won its first representation vote at the company in December 2021, at a store in Buffalo, New York. But many of the stores on strike remained open in past strikes, because management replaced the unionized striking workers with workers from nearby non-union stores and managers. That’s possible because of the close proximity of many Starbucks stores to one another. The union earlier this fall filed an unfair labor practice charge with the NLRB over Starbucks’ refusal to bargain around promotion days.

Persons: haven’t, Moe Mills, Mills, “, ” Mills, ” Organizations: New, New York CNN, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, CNN, National Labor Relations Board, NLRB, Red, Kaiser Permanente, Los Angeles, Teamsters, UPS, Michigan, Boeing Locations: New York, Buffalo , New York, St, Louis , Missouri, Kaiser, Detroit, East Coast

ATLANTA (AP) — The state of Georgia will start paying for gender-affirming health care for state employees, public school teachers and former employees covered by a state health insurance plan, settling another in a string of lawsuits against Georgia agencies aiming to force them to pay for gender-confirmation surgery and other procedures. The December lawsuit argued the insurance plan illegally discriminated by refusing to pay for gender-affirming care. But Brown said Thursday's settlement requires the health plan to pay for care deemed medically necessary for spouses and dependents as well as employees. That means the health plan could be required to pay for care for minors outside the state even though it's prohibited in Georgia. “The plan can’t treat the care any differently from other care that’s not available in the state,” Brown said.

Persons: “, ” David Brown, Micha Rich, Benjamin Johnson, Brown, it's, ” Brown, John Doe, ” Rich, Jeff Amy Organizations: ATLANTA, State, of Community Health, Civil, University, Georgia, University of Georgia, Department of Community Health, Circuit, Appeals, Georgia Department, School District, Family, Children Services, U.S, Opportunity Commission Locations: Georgia, Atlanta, Clayton County, Houston, Houston County, U.S, Bibb, Macon ., Paulding County, North Carolina, Wisconsin, West Virginia, Iowa, Florida, Arizona

New York CNN —An 11th-hour tentative contract agreement reached between Mack Trucks and the United Auto Workers union late Sunday narrowly averted a strike by 3,900 employees at the company. There are other UAW members on strike elsewhere also receiving the same strike benefit, including more than 1,000 members on strike at Blue Cross Blue Shield of Michigan. It last struck Mack Trucks in October of 2019, just after a six-week strike at GM. The walkouts began on September 15 and have since expanded to include more than 25,000 union members across the three companies. Mack Trucks is one of the major US makers of heavy duty and medium duty trucks, with deliveries of 27,000 in 2022, and 16,000 in for the first half of 2023.

Persons: Mack Trucks, Mack, China’s Geely Organizations: New, New York CNN, United Auto Workers, Sunday, ” UAW, Twitter, Big Three, UAW, of Michigan, Mack, GM, General Motors, Ford, Sweden’s Volvo Group, Volvo Locations: New York, Pennsylvania , Maryland, Florida

☆ Mum's the bad word: Most big Menendez donors won't say if they will keep backing New Jersey senator
▼ + stars: | 2023-09-26 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Several top party donors have privately told Menendez's campaign that he should resign, according to a longtime past supporter who spoke with CNBC. The PAC so far has raised approximately $300,000 for Menendez's 2024 reelection campaign, according to its president, Dr. Ben Chouake. NorPAC has donated a combined $15,500 toward the Menendez campaign and separate leadership PAC since 2017, according to OpenSecrets data. Prudential Financial , the large insurer, has donated $35,000 through their PAC toward Menendez's political operation since 2017, according to OpenSecrets. A Prudential spokeswoman declined to comment when asked whether the company's PAC would continue to support Menendez following his indictment.

Persons: Robert Menendez, Nadine Menendez, Sen, Bob Menendez, Menendez, NorPAC, Jon Kaiden, Kaiden, Cory Booker of, Ben Chouake, Chouake, We've, Couake, Goldman Sachs, General Atomics, Greenberg Traurig Organizations: New, New Jersey Democrat, CNBC, Baleon Capital, Menendez, Fund, Senate Foreign Relations, Banking, Finance, Democratic, Senate, Menendez's, PAC, Pfizer, Prudential Financial, Prudential, company's PAC, FEC, Comcast, Merck, Holtec Locations: Jersey, Union City , New Jersey, U.S, New Jersey, Israel, Manhattan, Cory Booker of New Jersey, OpenSecrets, Jerusalem

☆ Explainer: What you need to know about RSV and the new vaccines
▼ + stars: | 2023-09-22 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

That Pfizer (PFE.N) shot and one developed by GSK (GSK.L) in May became the first two RSV vaccines to win U.S. approval, for use in people aged 60 and over to prevent severe illness. Still, infants and older adults have a higher risk of developing severe RSV. RSV leads to 58,000 to 80,000 hospitalizations among children under age 5, and 60,000 to 160,000 hospitalizations among adults age 65 and older each year, according to the CDC. Early data suggests that the RSV shots are protective for at least two years, but it is not yet clear how often older adults will need to be revaccinated. Can I get the RSV shot alongside my COVID and flu shots?

Persons: Pfizer's, Synagis, it's, Jeffrey Duchin, you've, Michael Erman, Bhanvi, Caroline Humer, Bill Berkrot Organizations: . Centers for Disease Control, Prevention, Pfizer, GSK, CDC, FDA, Sanofi, AstraZeneca, Infectious Diseases Society of America, CVS, Humana, Thomson Locations: U.S, Aetna, New York, Bengaluru Edtiting

☆ Fall Covid shot rollout gets off to a bumpy start as some patients see insurance delays
▼ + stars: | 2023-09-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The rollout of a new round of Covid vaccines in the U.S. is off to a bumpy start as some patients report delays in health insurance coverage for the shots. Private insurance plans and government payers such as Medicare are required to cover the new jabs from Pfizer and Moderna , which became available late last week. It also comes after a huge shift in how Covid vaccines are covered in the U.S. Previously, the federal government purchased Covid vaccines directly from manufacturers at a discount to distribute to all Americans for free. Sarah Lindsey, an owner of a Florida-based jewelry store, called on her own insurer to add the new Covid shots to its formulary.

Persons: Sarah Lindsey, it's Organizations: Pfizer, Moderna, Medicare, Medicaid Services, CVS, U.S, CNBC Locations: U.S, Florida

☆ UAW will strike at additional U.S. auto plants if 'serious progress' isn't made by noon Friday
▼ + stars: | 2023-09-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Blue Cross Blue Shield employees show their support to members of the United Auto Workers (UAW) union as they march through the streets of downtown Detroit following a rally on the first day of the UAW strike in Detroit, Michigan, on September 15, 2023. Matthew Hatcher | AFP | Getty ImagesDETROIT – The United Auto Workers union will announce additional strikes at General Motors , Ford Motor and Stellantis plants if the sides don't make "serious progress" in negotiations by noon ET Friday, UAW President Shawn Fain announced Monday night. The announcement follows the union meeting with each of the automakers since the targeted strikes began Friday. The union selected the plants as part of targeted strike plans, as Fain and UAW leaders unconventionally negotiate with all three automakers at once. It's calling the work stoppages "stand-up strikes," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Matthew Hatcher, Shawn Fain, We're, Fain Organizations: United Auto Workers, UAW, AFP, Getty, DETROIT, General Motors, Ford Motor, Detroit Locations: Detroit, Detroit , Michigan, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio

☆ Wolfe Research think this pharma stock can bounce back and deliver long-term earnings growth
▼ + stars: | 2023-09-12 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The firm upgraded the stock to outperform from "peer perform," noting it has an "attractive" risk-reward ratio. Analyst Justin Lake raised his price target to $80, implying 16.4% upside from Monday's close of $68.75, which was the firm's previous price target. The analyst said he sees potential for CVS to more conservatively set expectations for earnings growth in 2025 and beyond in the high single-digit range. The stock has gained 5.5% so far this month, however, and rose 4.4% during Monday's trading session. Combined, Lake said these efforts should effectively allow CVS to "reinvest for future growth."

Persons: Justin Lake, Lake, Brian Kane, — CNBC's Michael Bloom Organizations: CVS, Wolf Research, Blue, Aetna, CNBC Locations: California

Sept 6 (Reuters) - Bristol Myers Squibb (BMY.N) has been accused in a new lawsuit of using fraudulent patents and other illegal tactics to maintain its monopoly on blockbuster blood cancer drug Pomalyst for years after it should have faced generic competition. A spokesperson for Bristol Myers did not immediately respond to a request for comment. Pomalyst is a top seller for Bristol Myers, bringing in nearly $3.5 billion out of $46.16 billion of its total revenue last year. The drug was developed by Celgene, a company acquired by Bristol Myers in 2019. The generic companies, which are also named as defendants in the lawsuit, did not immediately respond to requests for comment.

Persons: Pomalyst, Bristol Myers, Celgene, Brendan Pierson, Alexia Garamfalvi, Bill Berkrot Organizations: Bristol Myers Squibb, Louisiana, Pomalyst, Bristol, Celgene, U.S . Patent, Teva Pharmaceutical Industries, Aurobindo Pharma, Breckeridge Pharmaceutical, Natco Pharma, Thomson Locations: Manhattan, New York

☆ CVS Health is among the most oversold stocks in the S&P 500. Here are the others
▼ + stars: | 2023-09-02 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

After losing nearly 30% this year, shares of CVS Health could see a comeback according to one popular metric. Conversely, a reading lower than 30 typically means that a stock is oversold and could be a signal of a possible buying opportunity. CVS Health is another one of the most oversold companies in the S & P 500. Competitor pharmacy chain Walgreens Boots Alliance was also on the oversold list, with just 5.9% of analysts rating the stock a buy. Chipmaker and artificial-intelligence leader Nvidia , Mastercard , and Cisco Systems are also among the most overbought companies in the S & P 500.

Persons: Mills Organizations: CVS, Dow Jones Industrial, Nasdaq, CNBC Pro, Alaska Air Group, CVS Health, Wall Street, Walgreens Boots Alliance, Citi, Digital Realty Trust, Telecommunications, Verizon, Wall, Companies, Jefferies, Nvidia, Mastercard, Cisco Systems

☆ Devon Energy, CVS and more: CNBC's 'Halftime Report' traders answer your questions
▼ + stars: | 2023-08-31 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

On Thursday's "Ask Halftime," traders answered questions from CNBC Pro subscribers about which stocks and commodities to buy, hold or sell right now. Jenny Harrington of Gilman Hill Asset Management discussed why Devon Energy 's stock is better to hold on to for the long term rather than trading it on a seasonal basis. Odyssey Capital Advisors' Jason Snipe reviewed the negative effect the Blue Cross Blue Shield deal with Amazon pharmacy could have on CVS ' shares. Finally, Shannon Saccocia of Neuberger Berman Private Wealth said there are many potential tailwinds for gold in the near future.

Persons: Jenny Harrington, Jason Snipe, Shannon Saccocia, Neuberger Berman, Wealth Organizations: CNBC Pro, Management, Devon Energy, Odyssey Capital, Amazon, CVS Locations: Devon

☆ CVS pushes into making cheaper versions of complex drugs with new discount Humira
▼ + stars: | 2023-08-23 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

CVS Health is partnering with drugmaker Sandoz to produce a near identical version of the blockbuster arthritis treatment Humira that will sell for 80% below the price of the brand-named drug. The move is part of the company's new venture focused on securing, and in some cases co-producing, biosimilar drugs, which are the equivalent of generic versions of complex gene or protein-based therapies known as biologics. CVS is already one of the leading players when it comes to sourcing generic drugs through Red Oak, its joint venture with Cardinal Health . Abbvie reported more than $4 billion in Humira sales in its most recent quarter, which was slightly better than expected. Correction: CVS Health subsidiary Cordavis will partner with Sandoz on biosimilar drugs.

Persons: drugmaker Sandoz, We've, it'll, Prem Shah, drugmaker, Amgen's Amjevita, Murdo Gordon, Abbvie, Cuban's, John Ransom, Raymond James, Ransom, Sandoz Organizations: CVS Health, CVS, Cardinal Health, Novartis Pharmaceuticals, Sandoz, Novartis, FDA, Blue, Drug Company, Amazon Pharmacy Locations: U.S, Red, California

☆ Here are Friday's biggest analyst calls: CVS, Hawaiian Electric, Peloton, Aflac and more
▼ + stars: | 2023-08-18 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Here are Friday's biggest calls on Wall Street: Edward Jones downgrades CVS to hold from buy Edward Jones expressed concern over the company losing part of its Blue Shield of California pharmacy benefit manager contract. TD Cowen initiates Dynatrace at outperform TD Cowen said checks were strong and there's reasons to be excited about the tech company. TD Cowen initiates Datadog at outperform TD Cowen said the software company has strong management and ways to differentiate itself from competitors. Bank of America reiterates Peloton as buy Bank of America kept its bullish rating ahead of the fitness stock's earnings report. Morgan Stanley downgrades Aflac to equal weight from overweight Morgan Stanley said the insurance stock's strong earnings and capital have been hampered by challenges within sales and persistence.

Persons: Edward Jones, TD Cowen, Cowen, Wells, Wells Fargo, Morgan Stanley downgrades Aflac, Morgan Stanley, Riley, there's Organizations: CVS, JPMorgan, Bank of America, Barclays downgrades Keysight Technologies, Barclays, Citi, Materials, Riley Securities, Marvell Technology, MRVL Locations: California

CVS Health logo is seen displayed in this illustration taken, May 3, 2022. The regional health insurance provider will still retain CVS Caremark for managing specialty drugs, which are costly medications used to treat complex conditions like cancer and rheumatoid arthritis. Other analysts highlighted difficulties in shifting to a different model than the one offered by companies like CVS - which provide other services including home drug delivery and reimburse pharmacies for patients' prescriptions. Amazon Pharmacy will provide at-home delivery of prescription drugs as well as upfront pricing, while Mark Cuban Cost Plus Drug Company will provide access to generic drugs, Blue Shield said. Blue Shield of California's other partners include privately held Abarca for processing claims related to prescription drugs, while smaller PBM Prime Therapeutics will work to negotiate savings with drugmakers.

Persons: Dado Ruvic, Cigna, UnitedHealth, Mark, Elizabeth Anderson, J.P, Morgan, Lisa Gill, Gill, Blue, Manas Mishra, Mariam Sunny, Bhanvi, Shweta Agarwal, Pooja Desai, Krishna Chandra Eluri, Frances Kerry Organizations: CVS, REUTERS, Amazon, Cigna, UnitedHealth, Evercore ISI, Mark Cuban, Plus, Thomson Locations: Bengaluru

Search resuls for: "Blue Shield"

25 mentions found