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Top related persons:
Goldman Sachs - 1 Tim Noel - 1 UnitedHealth - 1 Julie Utterback - 1 Cigna Corp's - 1 Leroy Leo - 1 Shinjini - 1
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UnitedHealth - 1 Goldman - 1 CVS Health Corp - 1 Humana Inc - 1 Elevance - 1 CVS Health - 1 Thomson - 1

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4 mentions found


☆ UnitedHealth falls on warning of higher medical costs, drags down rivals
  + stars: | 2023-06-14 | by ( Leroy Leo | ) www.reuters.com   time to read: +2 min
The warning also dragged down shares of rival health insurers that largely benefited from delayed non-urgent surgeries such as hip and knee replacements and hospital staffing shortages that had further led to fewer procedures. UnitedHealth, at a Goldman Sachs healthcare conference, highlighted elevated demand for outpatient medical procedures, particularly related to knees and hips, from patients in Medicare health plans meant for those aged 65 and above. UnitedHealth also expects its full-year medical loss ratio at the upper end of its forecast. UnitedHealth's 18.51 forward 12-month price-to-earnings ratio - a common benchmark for valuing stocks - is higher than rival Cigna Corp's (CI.N) 10.29 and CVS Health Corp (CVS.N) 8.26. Shares of Humana Inc (HUM.N) fell 7%, while Elevance Health and CVS Health Corp's (CVS.N) fell more than 3% each in premarket trading.
Persons: Goldman Sachs, Tim Noel, UnitedHealth, Julie Utterback, Cigna Corp's, Leroy Leo, Shinjini Organizations: UnitedHealth, Goldman, CVS Health Corp, Humana Inc, Elevance, CVS Health, Thomson Locations: Bengaluru
☆ CVS names new pharmacy services, consumer product chiefs
  + stars: | 2023-01-23 | by ( ) www.reuters.com   time to read: +1 min
Jan 23 (Reuters) - CVS Health Corp (CVS.N) said on Monday that David Joyner would return to head the U.S. diversified healthcare company's pharmacy services and tapped former Cigna Corp (CI.N) executive Amy Bricker as its chief product officer for consumer business. Joyner will become the chief of the pharmacy services segment, which also includes the company's pharmacy benefits management business Caremark, effective Jan. 30. Bricker will start in the newly created role in February after serving as president of Express Scripts, rival Cigna Corp's pharmacy benefits unit. Its largest health insurance plan for Medicare recipients received a lower performance rating from the U.S. Centers for Medicare and Medicaid Services in October. The lower rating could affect payments from the government for 2024, the company said.
☆ California lawsuit accuses drugmakers, pharmacy benefit managers of insulin overcharging
  + stars: | 2023-01-12 | by ( Brendan Pierson | Thomson Reuters | Brendan Pierson Reports On Product Liability Litigation | ) www.reuters.com   time to read: +2 min
The lawsuit, filed in California Superior Court in Los Angeles, targets Eli Lilly and Co , Novo Nordisk A/S (NOVOb.CO) and Sanofi SA (SASY.PA), which together make more than 90% of the insulin drugs sold globally. Insulin drugs are used to control blood sugar in patients with diabetes. Eli Lilly and Sanofi both previously announced that they would cap the cost of a 30-day supply of insulin at $35 for uninsured patients. California said that the companies' dominance in the market has allowed them to hike insulin prices at patients' expense, violating the state's Unfair Competition Law. Prices of top-selling insulin drugs have soared in recent years.
☆ Walgreens-backed VillageMD to buy Summit Health in $9 billion deal
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +2 min
Nov 7 (Reuters) - Primary care provider VillageMD, which is backed by Walgreens Boots Alliance Inc (WBA.O), is buying urgent care provider Summit Health in a deal valued at nearly $9 billion, as the No. Private equity firm Warburg Pincus-backed Summit Health runs an independent physician-run medical groups, and also operates CityMD, which acts as alternatives to hospital emergency department visits. Walgreens also raised its fiscal year 2025 sales goal for U.S. healthcare business to $14.5 billion to $16.0 billion, from $11.0 billion to $12.0 billion previously to account for the deal. Together, VillageMD and Summit Health will have a presence in more than 680 locations. Summit Health and CityMD had merged in August 2019, with the company now having over 13,000 employees and operating in over 370 locations.
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