The Cigna Group - CI STOCK NEWS

The Cigna Group's 2024 Vitality In America Report reveals a 2% increase in high vitality among Americans, the first improvement since 2022. Key findings include:

1. Gen Z adults show the lowest vitality but significant improvements in autonomy and competence.
2. Sleep quality is strongly linked to vitality, with high vitality individuals 5x more likely to feel well-rested.
3. High vitality workers demonstrate greater job satisfaction and performance.
4. Manager relationships significantly impact worker mental health and vitality.
5. Prolonged sitting during work hours negatively affects vitality.

The report suggests opportunities for employers to enhance workforce vitality through improved workplace connections, manager-employee discussions, and promotion of health benefits.

Express Scripts, a subsidiary of The Cigna Group (NYSE: CI), has responded to the Federal Trade Commission's (FTC) recent action on insulin. Andrea Nelson, Chief Legal Officer of The Cigna Group, criticized the FTC's move as part of a pattern of unsubstantiated attacks on pharmacy benefit managers. Express Scripts argues that the FTC's action, if successful, could drive drug prices higher by forcing PBMs to include drugs on formularies regardless of cost or clinical necessity.

The company intends to vigorously defend itself to protect its ability to lower drug costs for clients and consumers. Express Scripts highlighted its 2019 initiative to cap out-of-pocket costs for insulin at $25 for a 30-day supply, predating government action. The company also referenced its recent lawsuit against the FTC, demanding the retraction of what it calls a flawed report on pharmacy benefit managers.

The Cigna Group (NYSE:CI) and Business Roundtable hosted a Workforce Mental Health Summit in Washington, bringing together business executives, policymakers, and community leaders. The event, part of the Business Roundtable Mental Health Initiative, aimed to address the mental health crisis affecting employees across America.

Key highlights include:

• David M. Cordani, Chairman and CEO of The Cigna Group, emphasized the importance of employers in supporting worker mental health
• U.S. Senators Chris Murphy and Pete Ricketts discussed policy recommendations for addressing mental health challenges
• CEOs from Accenture, USAA, and Rockwell Automation shared insights on mental health's impact on businesses

The summit underscored the critical need for collaboration between public and private sectors to tackle mental health issues, which affect over 20% of U.S. adults and cost the economy an estimated $47.6 billion annually in lost productivity due to depression alone.

Express Scripts, a subsidiary of The Cigna Group (NYSE: CI), has filed a lawsuit against the Federal Trade Commission (FTC) in federal court in Missouri. The company demands the retraction of the FTC's July 2024 report on the pharmacy benefit management (PBM) industry, claiming it contains false and misleading information. Express Scripts argues that the report ignores evidence provided by PBMs, shows ideological bias, and could lead to higher drug prices for consumers.

The company states it has cooperated with the FTC study for over two years, providing extensive data and information. However, Express Scripts contends that the FTC disregarded this input, resulting in a report with inaccuracies. The lawsuit claims the report violates the Commission's duty to follow due process and serve the public interest.

The Cigna Group (NYSE:CI), a global health company, has announced that Matt Perlberg, President of the Evernorth Health Services pharmacy and care delivery businesses, will present at the Bernstein Healthcare 1:1 Forum on September 24, 2024, in New York, NY. The presentation is scheduled to begin at approximately 9:00 a.m. ET.

A live webcast of the presentation will be available on The Cigna Group's website in the Investor Relations section. Interested parties can access the webcast at https://investors.thecignagroup.com/events-and-presentations/default.aspx. It is recommended to visit the website at least 15 minutes before the presentation to download and install any necessary audio software.

Cigna Healthcare has launched an E-Treatment option through MDLIVE by Evernorth, offering U.S. customers quick access to urgent care without direct interaction. This service, available to those with coverage through the individual marketplace or their employer, typically delivers diagnoses and treatment plans within one hour for common, lower-risk conditions.

Customers can submit a virtual clinical interview through the MDLIVE portal, which usually takes 8-10 minutes to complete. The service has shown high patient satisfaction, with 99% of patients happy with their experience. Many Cigna Healthcare customers can access this service with a $0 co-pay, along with other virtual care options like primary care, behavioral health, and dermatology.

Evernorth Health Services has announced plans to offer a Stelara biosimilar at $0 out-of-pocket cost for eligible Accredo patients starting in early 2025. This initiative is expected to save patients an average of $4,000 annually. The biosimilar, produced by Quallent Pharmaceuticals, will be priced over 80% lower than Stelara's list price, offering significant savings for health plan sponsors.

Accredo, Evernorth's specialty pharmacy, currently serves over 30,000 Stelara patients and provides specialized support through its Therapeutic Resource Centers. This move follows Evernorth's successful introduction of a Humira biosimilar in June, which has already seen a 25% adoption rate among eligible patients.

The Cigna Group (NYSE:CI), a global health company, has announced that its Chairman and CEO, David Cordani, will be presenting at the Morgan Stanley 22nd Annual Global Healthcare Conference on September 5, 2024, in New York, NY. The presentation is scheduled to begin at approximately 10:45 a.m. ET.

Investors and interested parties can access a live webcast of the presentation through The Cigna Group's Investor Relations website. To ensure a smooth viewing experience, it is recommended to visit the website at least 15 minutes before the presentation starts to download and install any necessary audio software.

The Cigna Group Foundation has launched a $9 million grant program to improve mental health and well-being of military veterans, with a first-year focus on housing stability. This initiative addresses the increased risk of homelessness among veterans, with an estimated 40,000 veterans without shelter on any given night. The program aims to provide stable housing, a key social determinant of health, to reduce mental distress disorders among veterans.

The Foundation is now accepting grant applications from nonprofit organizations in select states until August 28, 2024. The program goals include increasing permanent housing for veterans, improving housing affordability, and enhancing wraparound services for veterans transitioning from shelters. Habitat for Humanity International is among the first grantees, receiving $250,000 to support increased homeownership opportunities for veterans through its HUD-VASH initiative.