The Cigna Group - CI STOCK NEWS

Express Scripts, a part of Evernorth and The Cigna Group (NYSE: CI), launched the IndependentRx Initiative on April 20, 2023, aiming to enhance healthcare access in rural communities through partnerships with independent pharmacies. The initiative includes increased reimbursement rates for pharmacies and expanded healthcare services such as vaccinations and health screenings. Key features include establishing the industry's first Independent Pharmacy Advisory Committee to promote best practices and collaboration among pharmacies. With one in five Americans living in rural areas, this initiative addresses critical care gaps and supports the clinical roles of independent pharmacists, ultimately driving better health outcomes and reducing costs.

The Cigna Group (NYSE:CI) announced that its CFO, Brian Evanko, will present at the BofA Securities 2023 Health Care Conference on May 10, 2023, at approximately 12:20 p.m. ET in Las Vegas, NV. A live webcast of the presentation will be available through the Investor Relations section of The Cigna Group's website. The company emphasizes its commitment to improving health outcomes, leveraging its global presence across more than 30 countries, with around 190 million customer relationships worldwide. This presentation offers an opportunity for investors to gain insights into the company’s strategies and initiatives in the health sector.

On April 13, 2023, Express Scripts, a subsidiary of The Cigna Group (NYSE: CI), announced new initiatives aimed at enhancing affordability and transparency in pharmacy benefits management. The new Copay Assurance™ plan caps consumer out-of-pocket costs for prescription drugs, with a maximum of $5 for generics, $25 for preferred brand drugs, and $45 for preferred specialty brand drugs. Additionally, Express Scripts introduced ClearCareRx™, a transparent pricing model where clients pay exactly what Express Scripts pays for medications. The company also committed to enhanced disclosures about its business model and financial practices. These initiatives aim to improve access to medications for over 100 million Americans and drive accountability in the pharmaceutical supply chain.

The Cigna Group (NYSE:CI) plans to release its first quarter 2023 financial results on May 5, 2023, at 6:30 a.m. ET. A conference call to discuss these results will occur at 8:30 a.m. ET. Participants can join the live call by dialing (888) 455-5036 domestically or (773) 799-3981 internationally, with a passcode of 5052023. A replay will be available later the same day from 12:30 p.m. ET until 11:59 p.m. ET on May 19, 2023. Investors can access the live webcast via The Cigna Group's Investor Relations website. The Cigna Group serves approximately 190 million customers globally, providing health solutions through its various subsidiaries.

On March 30, 2023, HonorHealth, Cigna Healthcare, and Goodwill of Central and Northern Arizona launched the Blue Zones Project in Scottsdale, Arizona, aimed at enhancing community health and well-being. This initiative focuses on creating sustainable environments by making healthy choices more accessible. Cigna's Commercial Market President, Kim Shepard, highlighted the project's potential to improve health at the community level. The program has demonstrated success in other communities with significant reductions in obesity and smoking rates while also enhancing economic vitality. Local implementation will begin in May 2023.

AM Best has assigned a Long-Term Issue Credit Rating of “bbb” to $700 million and $800 million senior unsecured notes issued by Cigna, with positive outlook. Cigna plans to utilize proceeds for debt repayments and general corporate purposes, facing nearly $3 billion in debt maturities in 2023. Financial leverage is reported at 40.9%, expected to stabilize post-debt issuance. Cigna's earnings before interest and taxes improved to 8.2 times in 2022, with a 13% increase in healthcare earnings. The company's liquidity remains robust with $5.5 billion from the divestiture of its Asia-Pacific operations.

The Cigna Group, previously known as Cigna Corporation (NYSE: CI), unveils three distinct brands: Cigna Healthcare, a health benefits provider; Evernorth Health Services, offering pharmacy and care solutions; and The Cigna Group as the global health company itself. This branding evolution reflects its extensive portfolio and commitment to enhancing health across more than 30 countries. With over 70,000 employees and 190 million customer relationships, this shift marks a significant milestone in the company's 230-year history, aiming to better serve its customers and clients.

Cigna Corporation (NYSE:CI) announced that CFO Brian Evanko will present at the 43rd Annual Cowen Health Care Conference on March 6, 2023, at 2:50 p.m. ET in Boston, MA. A live webcast of the presentation will be available on Cigna's Investor Relations website. Cigna focuses on improving health and well-being globally, providing a range of integrated health services across approximately 30 countries, with around 190 million customer relationships. The company's offerings include medical, dental, behavioral health, pharmacy, and vision services.

Cigna Corporation (NYSE: CI) reported a strong financial performance for 2022, with total revenues of $180.5 billion and shareholders' net income increasing 24% to $6.7 billion or $21.30 per share. Adjusted income from operations rose to $7.3 billion or $23.27 per share. The board announced a 10% increase in the quarterly dividend to $1.23 per share, payable on March 23, 2023. For 2023, Cigna projects adjusted income from operations to reach at least $7.33 billion or $24.60 per share. Customer growth also showed positive trends, with a 5% increase in medical customers compared to 2021.