Welcome to our dedicated page for CVS HEALTH CORPORATION news (Ticker: CVS), a resource for investors and traders seeking the latest updates and insights on CVS HEALTH CORPORATION stock.
CVS Health Corporation (NYSE: CVS) is an American healthcare conglomerate that encompasses CVS Pharmacy, a widespread retail pharmacy chain, CVS Caremark, a premier pharmacy benefits manager (PBM), and Aetna, a leading health insurance provider. With over 9,000 retail locations across the U.S., CVS Health offers a diverse range of healthcare services aimed at enhancing accessibility and affordability.
Operations and Services
CVS Health's core activities revolve around its retail pharmacy operations, which include prescription services and an array of health and wellness products. It processes approximately 2 billion adjusted claims annually through CVS Caremark, ensuring efficient PBM services. Aetna, serving about 26 million medical members, complements CVS with comprehensive health insurance plans.
Recent Developments
In recent news, CVS Health has achieved significant milestones:
- Financial Results: The company reported strong fourth-quarter and full-year financial results for 2023, reflecting its robust position in the healthcare market.
- Affordable Housing Initiatives: CVS Health has invested nearly $35 million in equity investments to develop affordable housing in Hawaii, addressing urgent community needs post-natural disasters.
- Medicaid Services: Aetna Better Health of Michigan, part of CVS Health, has been recommended to continue serving Medicaid and CHIP beneficiaries under Michigan’s new Comprehensive Health Care Program (CHCP).
Strategic Acquisitions
CVS Health's acquisition of Oak Street Health adds primary care services to its offering, fostering synergies across its business lines. This strategic move aligns with its mission to provide seamless healthcare solutions, emphasizing convenience and comprehensive care.
Community Impact
CVS Health is committed to enhancing community health through local presence and digital channels. Its investments in affordable housing and educational programs in Hawaii exemplify its dedication to addressing social determinants of health.
Upcoming Events
The company will hold a conference call on May 1st, 2024, to discuss the first-quarter financial results of 2024, offering insights into its ongoing strategies and performance.
With over 300,000 dedicated professionals, including 40,000+ healthcare providers, CVS Health continues to be a trusted partner in health, improving lives with every significant moment of care.
CVS Health (NYSE: CVS) has announced it will host a conference call with analysts and investors on Wednesday, February 12th, 2025, at 8:00 a.m. ET. The call will discuss the company's fourth quarter and full year 2024 financial results. The event will be accessible via audio webcast on the Investor Relations section of CVS Health's website at investors.cvshealth.com, where it will remain archived for one year.
CVS Health (NYSE: CVS) has implemented comprehensive measures to support communities affected by California wildfires. CVS Pharmacy stores are reopening where safe, with pharmacy lines rerouted to nearby locations to ensure prescription access. The company is enabling one-time emergency 30-day medication refills through CVS Caremark for plan members in impacted areas.
CVS Specialty is actively contacting patients to arrange alternate delivery arrangements and medication access. Aetna has expanded its clinical response teams for Medicare and Commercial members, allowing emergency care access anywhere needed. The company has also extended its Resources For Living (RFL) services, offering mental health support and community resources through a dedicated crisis support line at 1-833-327-AETNA.
Zydus Lifesciences has announced an agreement with CVS Caremark to include its diabetes medications Zituvio™, Zituvimet™, and Zituvimet™ XR in CVS's template formulary starting January 1, 2025. These products, containing sitagliptin and metformin hydrochloride, are approved by the FDA through the 505(b)(2) route for improving glycemic control in adults with type 2 diabetes mellitus.
The medications work through DPP-4 inhibition and as biguanides, serving as an adjunct to diet and exercise. According to IQVIA™ data (MAT Aug-2023), the U.S. market for DPP-IV inhibitors and their combinations is valued at US$ 10 billion. This partnership represents a significant opportunity for Zydus to expand its presence in the U.S. market with its differentiated product portfolio.
CVS Health has announced that all commercial prescriptions at CVS Pharmacy will now be reimbursed through their new CVS CostVantage model starting this year. This innovative reimbursement approach uses a transparent formula based on drug acquisition cost, a set markup, and a service fee reflecting pharmacy service quality.
The model aims to transform pharmacy reimbursement by removing market reliance on cross-subsidization and providing greater clarity in pricing. According to recent survey data, 81% of consumers trust their local pharmacist, and 88% view pharmacists as their most accessible healthcare providers, with nearly 1 in 3 Americans visiting pharmacies weekly—twice as often as physician visits.
The initiative represents a strategic shift towards more sustainable retail pharmacy services, with plans to eventually expand to Medicare and Medicaid managed prescriptions. This new approach helps reduce the need for higher rates on some medicines to subsidize losses on others, while providing enhanced transparency for PBMs and payors.
CVS Health (NYSE: CVS) has announced its board of directors has approved a quarterly dividend of $0.665 per share on the Common Stock. The dividend will be paid on February 3, 2025, to shareholders of record as of January 23, 2025.
Varo Bank has announced a collaboration with Green Dot and CVS Health to enable zero-fee cash deposits for its customers at over 7,500 participating CVS Pharmacy locations nationwide. This service could save customers who regularly deposit cash approximately $120 or more annually.
The initiative leverages Green Dot's embedded finance platform (Arc) and money movement network. As the first all-digital nationally chartered bank in the U.S., Varo offers various fee-free banking services including no monthly fees, minimum balance requirements, transfer fees, or overdraft fees. Additional benefits include free withdrawals at 40,000+ Allpoint® ATMs, 2-day early payday with direct deposits, automatic cash back rewards, and eligibility for Varo Advance and Line of Credit services.
Aetna, a CVS Health company, has enhanced its Aetna Health app with Spanish language capabilities, making it accessible to all eligible health plan members. The update includes Spanish translations for identity cards, benefit details, deductibles, claims, cost estimates, and healthcare provider information.
The initiative aims to improve navigation, health literacy, and care access for Spanish-speaking members. Aetna also provides Spanish-speaking care managers and customer service representatives, while conducting community outreach through events and broadcast interviews to share public health information in Spanish.
The company plans to explore expanding language capabilities further to serve its diverse member population.
CVS Health has announced the pricing details of its Maximum Tender Offer for multiple series of Senior Notes, with a maximum purchase price of $1,774,423,242.62. The tender offer includes various series of notes with maturities ranging from 2030 to 2050. Notes tendered by the Early Tender Date of December 13, 2024, will receive the Total Consideration, which includes the Early Tender Payment of $30 per $1,000 principal amount.
The settlement date for notes validly tendered by the Early Tender Date is expected to be December 18, 2024. Due to oversubscription at the Early Tender Date, no notes tendered after this date are expected to be accepted for purchase. The 2.700% Senior Notes due 2040, 3.875% Senior Notes due 2047, and 4.250% Senior Notes due 2050 will be accepted at 100% proration, while the 4.125% Senior Notes due 2040 will be accepted at 57.5% proration.
CVS Health announced early results of its cash tender offer for multiple series of senior notes, with a maximum purchase price of $1.77 billion. The tender offer includes ten different series of notes with various interest rates and maturities ranging from 2030 to 2050. As of December 13, 2024, significant portions of various notes have been tendered, with participation rates ranging from 14.56% to 70.61%.
The company will settle the tender offer early on December 18, 2024. The total consideration will be calculated based on U.S. Treasury yields plus fixed spreads, and includes an early tender payment of $30 per $1,000 principal amount. Due to reaching the maximum tender amount, no additional notes will be purchased after the early settlement date.
CVS Health announced the results of its cash tender offer for its 4.100% Senior Notes due 2025. As of December 6, 2024, $225,979,000 in principal amount was validly tendered, with an additional $5,000 tendered under guaranteed delivery procedures. The settlement date is expected to be December 11, 2024.
The company plans to fund the purchase using proceeds from its newly issued 7.000% Series A Junior Subordinated Notes due 2055 and 6.750% Series B Junior Subordinated Notes due 2054. CVS Health expects to accept all validly tendered notes for purchase.
This tender offer is part of a larger initiative that includes a Maximum Tender Offer with a maximum purchase price of $2,000,000,000, less the amount paid for the Any and All Notes.