Morning Briefing
Summaries of health policy coverage from major news organizations
As CVS Nears Closing On Deal With Aetna, Sales At Prescription Counter Rise 9.2 Percent, Top Expectations
Bloomberg: CVS Stock (CVS) Up As Same-Store Sales Defy Threats
CVS Health Corp.’s same-store sales grew 6.7 percent in the third quarter, driven by strong performance at the prescription counter and front-of-the-store retail revenue that rose slightly despite continued pressure from online sellers. Adjusted earnings per share were $1.73, beating the $1.71 average of analysts’ estimates. The company reaffirmed its forecast for 2018 earnings. (Langreth, 11/6)
The Associated Press: CVS Health Tops 3Q Earnings Forecasts, Backs 2018 Outlook
More prescriptions and lower taxes pushed CVS Health past third-quarter expectations as the pharmacy giant closed in on a deal it will use to change how millions of people manage their health. CVS Health said Tuesday that it expects to complete its $69 billion acquisition of the nation’s third-largest health insurer, Aetna, before Thanksgiving. (Murphy, 11/6)
CNBC: CVS To Test Stores With More Health Services After Aetna Deal Closes
Consumers will soon start to see CVS Health's vision for the future of health care. CVS expects its roughly $69 billion acquisitionof health insurer Aetna to close before Thanksgiving, the company said Tuesday when announcing third-quarter financial results. The combined company has pledged to improve health services and outcomes and lower costs. CVS plans to open its first concept stores early next year, CEO Larry Merlo told Wall Street analysts Tuesday. (LaVito, 11/6)
Reuters: CVS Quarterly Profit Beats; Expects To Close Aetna Deal This Month
CVS, which last month won U.S. Department of Justice approval to buy Aetna, said it reached agreement with the state of California on the acquisition and expects to finalize terms over the coming days. The deal is expected to close before the Thanksgiving holiday, which falls on Nov. 22, CVS said. The combination is expected to reshape the healthcare sector as it brings together one of the largest PBMs and one of the nation’s oldest health insurers. (Mishra, 11/6)
The Wall Street Journal: CVS Lays Out Vision For Future As Aetna Merger Looms
CVS Health Corp. executives gave investors a window into its strategy after closing the acquisition of health insurer Aetna Inc., with an eye on becoming a one-stop shop for patients. ... CVS and Aetna operate in largely different businesses, with their most direct overlap coming in selling plans under the Medicare prescription-drug program, known as Part D. (Al-Muslim, 11/6)
